FREDERICK L. DEMING:

An Inventory of His Papers at the Minnesota Historical Society

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BIOGRAPHY OF FREDERICK L. DEMING

Frederick Lewis Deming was born in Des Moines, Iowa on September 12, 1912. He was the son of Fred Kemp and Erva Pearl (Smyres) Deming. He spent most of his youth in St. Louis, Missouri. He attended Grover Cleveland High School in St. Louis, and Washington University, St. Louis, where he earned B.A. (1934) and M.A. (1935) degrees in history and a Ph.D in economics (1941).

He began his working career in 1941 at the Federal Reserve Bank of St. Louis as assistant manager in the Research Department. He left in 1957 as first vice-president to accept the position of president of the Federal Reserve Bank of Minneapolis, a position he held from April 1957 through January 1965. Deming left the bank to serve as Undersecretary for Monetary Affairs in the United States Treasury Department, a position he held from 1965 to 1969. After leaving government service he was a general partner in Lazard Freres & Company, a New York investment firm (1969-1971). He was also president of National City Bancorp, Minneapolis (1971-1982).

Deming served on a number of corporate and nonprofit boards. He was a director of National City Bancorp (until 1993); the Boise Cascade Corporation (1970-1982); Northwestern National Life Insurance Company (1971-1979); St. Paul Securities Company (1972-1977); and the Pitcairn Company (1983-1988). He became a trustee of Macalester College in 1959 and was elected to the Washington University Board of Trustees in 1965. He was apparently also a trustee of Abbott Hospital and Westminster Presbyterian Church, both Minneapolis.

Frederick Deming married (Corinne) Inez Wilson on Febrary 4, 1935. The couple had two children: Frederick Wilson Deming ("Fif") and Richard Louis Deming. In their retirement years the couple made their home in Sanibel, Florida. Deming died on August 21, 2003 at Fort Myers, Florida.

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SCOPE AND CONTENTS OF THE COLLECTION

The papers primarily date from, and relate to, Deming's years at the Federal Reserve banks of St. Louis and Minneapolis, as well as his activities as a member of the Macalester College board of trustees. There is also some information about his years at the Treasury Department. Much of the collection focuses on federal monetary and fiscal policy. Some of the material is related to Deming's travels as president of the Federal Reserve Bank of Minneapolis to such places as Honduras, Tawian, and the Philippines.

The collection contains a variety of miscellaneous printed items including pamphlets, brochures, university commencement programs, and copies of Deming's speeches and writings. There are minutes of Macalester College trustees' meetings, and of meetings of the executive committee of the United Fund of Hennepin County. There are invitations received by the Demings to official dinners and other social functions; Christmas cards; and a folder of photographs. Other items of interest include copies of Deming's master's thesis (1935) on explorer William Clark and his doctoral dissertation (1941) on the Boatman's National Bank (St. Louis).

There are six folders of personal correspondence and papers. This correspondence concerns such things as Deming's purchase of his home in Minneapolis (1957); his membership in private clubs in St. Louis and in Minneapolis; travels; and various family matters. There are letters containing genealogical data, and letters of consolation received upon the deaths of his father (1959) and his mother (1962). Correspondents include Federal Reserve executives and colleagues; members of the Federal Reserve Board of Governors; bank executives; officials of Washington University, Macalester College, and the University of Minnesota; Minneapolis business leaders; a few politicians and government officials; and family and friends.

There is a file of information about University of Minnesota economist Walter Heller. The file consists primarily of correspondence between Heller, Senator Hubert Humphrey, Minnesota Governor Orville L. Freeman, Joseph Pechman, and Deming about monetary policy and other economic matters.

Oversize materials include four scrapbooks, one of which contains newspaper clippings about, and memorabilia from, the inauguration of President Lyndon Johnson (1965). The scrapbooks also include photographs of and information about a variety of individuals, including Minneapolis businessman Atherton Bean, Vice President Hubert H. Humphrey, and Minnesota Senator Walter Mondale.

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DETAILED DESCRIPTION OF THE COLLECTION

Note to Researchers: To request materials, please note both the location and box numbers shown below.

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