|Name||Ogden L. Mills|
New York, New York , United States
|| August 23, 1884
|Died||October 11, 1937
|Last Modifed||Classical Liberal|
Feb 14, 2005 02:12pm
|Info||Ogden L. Mills was nominated by President Hoover to be the 50th Secretary of the Treasury. He served from February 13, 1932 until March 4, 1933. |
Mr. Mills become active in Republican Party affairs in 1911. Mr. Mills served until 1926 as Treasurer of the Republican County Committee of New York. He was an unsuccessful candidate for the United States Congress in 1912, but was elected to the New York State Senate in 1914 and was re-elected in 1916. In 1917, he served as a Captain with A.E.F. in France. Mr. Mills was elected to the United States Congress in 1921 as a Representative from New York, serving three terms.
In 1927, he was appointed by President Coolidge to be Under Secretary of the Treasury to Secretary Andrew W. Mellon. He served as Under Secretary for five years as an acknowledged expert on finance and taxation. He was appointed Secretary of the Treasury by President Hoover in February 1932 when Secretary Mellon resigned to become U.S. Ambassador to the Court of St. James.
A New York Times obituary notice called Mills "a tower of strength to his chief (President Hoover) in the dark days of '29 and the depression years which followed. With the election of Roosevelt in 1932, the two men left Washington as close friends, sharing the same ideas, fighting for the same principles, but hopelessly in the minority as the liberal tide ran full."
Mills, a conservative, believed in "sound money", the gold standard, and a balanced budget strictly adhered to. But Roosevelt espoused "easy money," not using gold to redeem pledges, and spending programs for social purposes and others whether the budget was balanced or not. Mills' proposals during his brief term as Secretary of the Treasury, encompassing the final thirteen months of the Hoover Administration, were unpopular with the citizens and the Congress, and he could accomplish little in that atmosphere.
After leaving the Treasury Department, Mills was highly critical of New deal policies. He continued to be active in business, and published his views in two books, What of Tomorrow in 1935 and The Seventeen Million in 1937. The latter was his attempt to provide guidance for those who voted against the New Deal in 1936.
Ogden Mills was born August 23, 1884, in Newport, Rhode Island. He was the son of Ogden and Ruth T. (Livingston) Mills and grandson of Darius O. Mills, who bequeathed to his son a fortune in excess of $40 million amassed in banking, railroad, and mining ventures on the Pacific Coast. Mr. Mills graduated from Harvard University and then Harvard Law School, received the A.B. degree in 1904 and the LL.B. degree in 1907. He was admitted to the New York bar in 1908 and practiced law with a prestigious firm.
He was director of such large corporations as the Lackawanna Steel Company, the Atcheson, Topeka, and Santa Fe Railroad, Mergenthaler Linotype Company, the Shredded Wheat Company, and many others. He married Mrs. Dorothy Randolph Fell in 1924. Ogden L. Mills died October 11, 1937, in New York City.