David F. Houston
Encyclopedia
David Franklin Houston was an American
academic, businessman and politician.
, he graduated from the University of South Carolina
in 1887 and went on to do graduate work at Harvard University
, where he received a M.A. in political science
in 1892.
at University of Texas
. He became an adjunct member of the faculty in 1894 and was named dean of the faculty in 1899. He then became president of the Agricultural and Mechanical College of Texas
(now Texas A&M University
) from 1902 until 1905. In 1905 he returned to UT to become that institution's president, serving until 1908. During his tenure at UT Austin, the school opened a doctoral program and a law school.
Houston left Texas to serve as chancellor of Washington University in St. Louis
, a position he held from 1908 to 1913. During his tenure he established the School of Architecture and strengthened the Medical School through partnerships with Children's
and Barnes
hospitals. He left the University to become the U.S. Secretary of Agriculture
.
Under President
William McKinley
he was on the board of visitors of the United States Military Academy
at West Point. Later in life, he was an overseer of Harvard University and on the Columbia University
board of trustees.
Woodrow Wilson
as United States Secretary of Agriculture
from 1913 to 1920 when he became United States Secretary of the Treasury
until 1921.
During his time as Agriculture Secretary many important agricultural laws were passed by the U.S. Congress, including the Smith-Lever Act, the Farm Loan Act, the Warehouse Act, and the Federal Aid Road Act.
Houston came to the Treasury Department
as World War I
was ending and his brief tenure was marked by stormy controversies over federal monetary policies
. As ex officio Chairman of the Federal Reserve Board, he issued severe warnings and, increased rediscount rates in order to prevent the inflation
that the Europe
an allies were experiencing. Houston predicted a fall in U.S. prices, particularly of farm products, after the optimism of the Armistice wore off. He pushed for easier credit for farmers and urged them to produce less.
But when prices fell more dramatically than expected in 1920, farm spokesmen unfairly accused Houston of deliberately wrecking agrarian prosperity. Abroad, England
and France
were pushing to cancel their war debts. Houston, the U.S. Congress and the President, against cancellation, converted the short-term debts to long-term loans. Houston resigned at the end of Wilson's term, after only a year in office.
, Houston became President of Bell Telephone Securities and a vice president at AT&T
. Houston also served as a director of the AT&T, the Guaranty Trust Company and the United States Steel Corporation. He was president of the Mutual Life Insurance Company of New York for 10 years.
.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
academic, businessman and politician.
Biography
Born in Monroe, North CarolinaMonroe, North Carolina
Monroe is a city in Union County, North Carolina, United States. The population was 36,397 as of the 2010 census. It is the seat of government of Union County and is also part of the Charlotte-Gastonia-Rock Hill, NC-SC Metropolitan area.-Geography:...
, he graduated from the University of South Carolina
University of South Carolina
The University of South Carolina is a public, co-educational research university located in Columbia, South Carolina, United States, with 7 surrounding satellite campuses. Its historic campus covers over in downtown Columbia not far from the South Carolina State House...
in 1887 and went on to do graduate work at Harvard University
Harvard University
Harvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...
, where he received a M.A. in political science
Political science
Political Science is a social science discipline concerned with the study of the state, government and politics. Aristotle defined it as the study of the state. It deals extensively with the theory and practice of politics, and the analysis of political systems and political behavior...
in 1892.
Higher education
Houston taught political sciencePolitical science
Political Science is a social science discipline concerned with the study of the state, government and politics. Aristotle defined it as the study of the state. It deals extensively with the theory and practice of politics, and the analysis of political systems and political behavior...
at University of Texas
University of Texas at Austin
The University of Texas at Austin is a state research university located in Austin, Texas, USA, and is the flagship institution of the The University of Texas System. Founded in 1883, its campus is located approximately from the Texas State Capitol in Austin...
. He became an adjunct member of the faculty in 1894 and was named dean of the faculty in 1899. He then became president of the Agricultural and Mechanical College of Texas
Texas A&M University
Texas A&M University is a coeducational public research university located in College Station, Texas . It is the flagship institution of the Texas A&M University System. The sixth-largest university in the United States, A&M's enrollment for Fall 2011 was over 50,000 for the first time in school...
(now Texas A&M University
Texas A&M University
Texas A&M University is a coeducational public research university located in College Station, Texas . It is the flagship institution of the Texas A&M University System. The sixth-largest university in the United States, A&M's enrollment for Fall 2011 was over 50,000 for the first time in school...
) from 1902 until 1905. In 1905 he returned to UT to become that institution's president, serving until 1908. During his tenure at UT Austin, the school opened a doctoral program and a law school.
Houston left Texas to serve as chancellor of Washington University in St. Louis
Washington University in St. Louis
Washington University in St. Louis is a private research university located in suburban St. Louis, Missouri. Founded in 1853, and named for George Washington, the university has students and faculty from all fifty U.S. states and more than 110 nations...
, a position he held from 1908 to 1913. During his tenure he established the School of Architecture and strengthened the Medical School through partnerships with Children's
St. Louis Children's Hospital
St. Louis Children's Hospital is an academic pediatric hospital providing tertiary level care in St. Louis, Missouri. SLCH is the pediatric teaching hospital for Washington University School of Medicine. It is the seventh oldest children's hospital in the United States and the first children's...
and Barnes
Barnes-Jewish Hospital
Barnes-Jewish Hospital is the largest hospital in the U.S. state of Missouri. It is the adult teaching hospital for Washington University School of Medicine, and is located in St. Louis, Missouri. It is consistently rated one of the top hospitals in the United States by U.S. News & World Report...
hospitals. He left the University to become the U.S. Secretary of Agriculture
United States Secretary of Agriculture
The United States Secretary of Agriculture is the head of the United States Department of Agriculture. The current secretary is Tom Vilsack, who was confirmed by the U.S. Senate on 20 January 2009. The position carries similar responsibilities to those of agriculture ministers in other...
.
Under President
President of the United States
The President of the United States of America is the head of state and head of government of the United States. The president leads the executive branch of the federal government and is the commander-in-chief of the United States Armed Forces....
William McKinley
William McKinley
William McKinley, Jr. was the 25th President of the United States . He is best known for winning fiercely fought elections, while supporting the gold standard and high tariffs; he succeeded in forging a Republican coalition that for the most part dominated national politics until the 1930s...
he was on the board of visitors of the United States Military Academy
United States Military Academy
The United States Military Academy at West Point is a four-year coeducational federal service academy located at West Point, New York. The academy sits on scenic high ground overlooking the Hudson River, north of New York City...
at West Point. Later in life, he was an overseer of Harvard University and on the Columbia University
Columbia University
Columbia University in the City of New York is a private, Ivy League university in Manhattan, New York City. Columbia is the oldest institution of higher learning in the state of New York, the fifth oldest in the United States, and one of the country's nine Colonial Colleges founded before the...
board of trustees.
Politics
Houston served PresidentPresident of the United States
The President of the United States of America is the head of state and head of government of the United States. The president leads the executive branch of the federal government and is the commander-in-chief of the United States Armed Forces....
Woodrow Wilson
Woodrow Wilson
Thomas Woodrow Wilson was the 28th President of the United States, from 1913 to 1921. A leader of the Progressive Movement, he served as President of Princeton University from 1902 to 1910, and then as the Governor of New Jersey from 1911 to 1913...
as United States Secretary of Agriculture
United States Secretary of Agriculture
The United States Secretary of Agriculture is the head of the United States Department of Agriculture. The current secretary is Tom Vilsack, who was confirmed by the U.S. Senate on 20 January 2009. The position carries similar responsibilities to those of agriculture ministers in other...
from 1913 to 1920 when he became United States Secretary of the Treasury
United States Secretary of the Treasury
The Secretary of the Treasury of the United States is the head of the United States Department of the Treasury, which is concerned with financial and monetary matters, and, until 2003, also with some issues of national security and defense. This position in the Federal Government of the United...
until 1921.
During his time as Agriculture Secretary many important agricultural laws were passed by the U.S. Congress, including the Smith-Lever Act, the Farm Loan Act, the Warehouse Act, and the Federal Aid Road Act.
Houston came to the Treasury Department
United States Department of the Treasury
The Department of the Treasury is an executive department and the treasury of the United States federal government. It was established by an Act of Congress in 1789 to manage government revenue...
as World War I
World War I
World War I , which was predominantly called the World War or the Great War from its occurrence until 1939, and the First World War or World War I thereafter, was a major war centred in Europe that began on 28 July 1914 and lasted until 11 November 1918...
was ending and his brief tenure was marked by stormy controversies over federal monetary policies
Monetary policy
Monetary policy is the process by which the monetary authority of a country controls the supply of money, often targeting a rate of interest for the purpose of promoting economic growth and stability. The official goals usually include relatively stable prices and low unemployment...
. As ex officio Chairman of the Federal Reserve Board, he issued severe warnings and, increased rediscount rates in order to prevent the inflation
Inflation
In economics, inflation is a rise in the general level of prices of goods and services in an economy over a period of time.When the general price level rises, each unit of currency buys fewer goods and services. Consequently, inflation also reflects an erosion in the purchasing power of money – a...
that the Europe
Europe
Europe is, by convention, one of the world's seven continents. Comprising the westernmost peninsula of Eurasia, Europe is generally 'divided' from Asia to its east by the watershed divides of the Ural and Caucasus Mountains, the Ural River, the Caspian and Black Seas, and the waterways connecting...
an allies were experiencing. Houston predicted a fall in U.S. prices, particularly of farm products, after the optimism of the Armistice wore off. He pushed for easier credit for farmers and urged them to produce less.
But when prices fell more dramatically than expected in 1920, farm spokesmen unfairly accused Houston of deliberately wrecking agrarian prosperity. Abroad, England
England
England is a country that is part of the United Kingdom. It shares land borders with Scotland to the north and Wales to the west; the Irish Sea is to the north west, the Celtic Sea to the south west, with the North Sea to the east and the English Channel to the south separating it from continental...
and France
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
were pushing to cancel their war debts. Houston, the U.S. Congress and the President, against cancellation, converted the short-term debts to long-term loans. Houston resigned at the end of Wilson's term, after only a year in office.
Business
After leaving the U.S. federal governmentFederal government of the United States
The federal government of the United States is the national government of the constitutional republic of fifty states that is the United States of America. The federal government comprises three distinct branches of government: a legislative, an executive and a judiciary. These branches and...
, Houston became President of Bell Telephone Securities and a vice president at AT&T
AT&T
AT&T Inc. is an American multinational telecommunications corporation headquartered in Whitacre Tower, Dallas, Texas, United States. It is the largest provider of mobile telephony and fixed telephony in the United States, and is also a provider of broadband and subscription television services...
. Houston also served as a director of the AT&T, the Guaranty Trust Company and the United States Steel Corporation. He was president of the Mutual Life Insurance Company of New York for 10 years.
Death
He died on September 2, 1940 of a heart attack at Columbia Presbyterian Medical Center in New York CityNew York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
.