Adolph Caspar Miller (January 7, 1866 - February 11, 1953) was an American economist who served as a member of the

Federal Reserve Board of Governors The Board of Governors of the Federal Reserve System, commonly known as the Federal Reserve Board, is the main governing body of the Federal Reserve System. It is charged with overseeing the Federal Reserve Banks and with helping implement the mon ...

from 1914 to 1936. Miller was a notable benefactor of the

University of California, Berkeley The University of California, Berkeley (UC Berkeley, Berkeley, Cal, or California) is a public land-grant research university in Berkeley, California. Established in 1868 as the University of California, it is the state's first land-grant u ...

, of which he was a graduate and professor of economics.

Early life

Miller was born in San Francisco on January 7, 1866. After receiving his degree from the University of California, he studied abroad in Paris and Munich Miller served as an instructor at

Harvard University Harvard University is a private Ivy League research university in Cambridge, Massachusetts. Founded in 1636 as Harvard College and named for its first benefactor, the Puritan clergyman John Harvard, it is the oldest institution of higher le ...

, and then spent one year each as an assistant professor at his alma mater and at

Cornell University Cornell University is a private statutory land-grant research university based in Ithaca, New York. It is a member of the Ivy League. Founded in 1865 by Ezra Cornell and Andrew Dickson White, Cornell was founded with the intention to teach an ...

before being hired as a full professor of finance at the

University of Chicago The University of Chicago (UChicago, Chicago, U of C, or UChi) is a private research university in Chicago, Illinois. Its main campus is located in Chicago's Hyde Park neighborhood. The University of Chicago is consistently ranked among the b ...

. While in Chicago, in 1895, Miller married Mary Sprague, daughter of a prominent Chicago businessman.

University and political career

In 1902,

Benjamin Wheeler Benjamin Ide Wheeler (July 15, 1854– May 2, 1927) was a professor of Greek and comparative philology at Cornell University, writer, and President of the University of California from 1899 to 1919. Life and career Early years Benjamin ...

, President of the University of California, persuaded Miller to return to Berkeley as Flood Professor of Finance, and to take charge of the College of Commerce, predecessor of today's

Haas School of Business The Walter A. Haas School of Business, also known as Berkeley Haas, is the business school of the University of California, Berkeley, a public research university in Berkeley, California. It was the first business school at a public university i ...

. Miller remained there until 1913. In that year, Miller's classmate and friend,

Franklin Knight Lane Franklin Knight Lane (July 15, 1864 – May 18, 1921) was an American progressive politician from California. A member of the Democratic Party, he served as United States Secretary of the Interior from 1913 to 1920. He also served as a comm ...

was appointed as Secretary of the Interior by

Woodrow Wilson Thomas Woodrow Wilson (December 28, 1856February 3, 1924) was an American politician and academic who served as the 28th president of the United States from 1913 to 1921. A member of the Democratic Party, Wilson served as the president of ...

, and Lane persuaded Miller to come to Washington to serve as Assistant Secretary. In May 1913, Miller was also appointed as Director of the Bureau of National Parks. In 1914, Miller was appointed one of the original governors of the Federal Reserve System, which had been established late the previous year. The terms of the initial governors were staggered, and Miller received the longest initial term, ten years. Miller was the sole economist on the Board during World War I, and he supported policies which would reduce spending by the public, principally through higher taxes. He served 22 years in that capacity before retiring in 1936. He remained a significant benefactor to the University of California, and its Miller Institute for Basic Research in Science was both endowed by money left to the University, and named for him. His house in the Kalorama neighborhood of

Washington DC ) , image_skyline = , image_caption = Clockwise from top left: the Washington Monument and Lincoln Memorial on the National Mall, United States Capitol, Logan Circle, Jefferson Memorial, White House, Adams Morgan, ...

, designed in 1924 by

Baltimore Baltimore ( , locally: or ) is the List of municipalities in Maryland, most populous city in the U.S. state of Maryland, fourth most populous city in the Mid-Atlantic (United States), Mid-Atlantic, and List of United States cities by popula ...

architect

Hall Pleasants Pennington In architecture, a hall is a relatively large space enclosed by a roof and walls. In the Iron Age and early Middle Ages in northern Europe, a mead hall was where a lord and his retainers ate and also slept. Later in the Middle Ages, the gr ...

, still stands at 2230 S Street NW.

References

Bibliography

External links

Statements and Speeches of Adolph C. Miller
{{DEFAULTSORT:Miller, Adolph C. 1866 births 1947 deaths Cornell University faculty Federal Reserve System governors Harvard University alumni People from Kalorama (Washington, D.C.) University of California, Berkeley alumni University of California, Berkeley faculty University of Chicago faculty Woodrow Wilson administration personnel Harding administration personnel Coolidge administration personnel Hoover administration personnel Franklin D. Roosevelt administration personnel Journal of Political Economy editors