Louis Rasminsky, (February 1, 1908 – September 15, 1998) was the third

Governor A governor is an administrative leader and head of a polity or political region, ranking under the head of state and in some cases, such as governors-general, as the head of state's official representative. Depending on the type of political ...

of the Bank of Canada from 1961 to 1973, succeeding James Coyne. He was succeeded by Gerald Bouey. Born in

Montreal Montreal ( ; officially Montréal, ) is the second-most populous city in Canada and most populous city in the Canadian province of Quebec. Founded in 1642 as '' Ville-Marie'', or "City of Mary", it is named after Mount Royal, the triple ...

, he was raised in

Toronto Toronto ( ; or ) is the capital city of the Canadian province of Ontario. With a recorded population of 2,794,356 in 2021, it is the most populous city in Canada and the fourth most populous city in North America. The city is the anch ...

, graduated at

Harbord Collegiate Institute Harbord Collegiate Institute (HCI or Harbord) is a public secondary school located in downtown Toronto, Ontario, Canada. The school is located in the Palmerston-Little Italy-Annex neighbourhood, situated on the north side of Harbord Street, betwe ...

, educated at the

University of Toronto The University of Toronto (UToronto or U of T) is a public university, public research university in Toronto, Ontario, Canada, located on the grounds that surround Queen's Park (Toronto), Queen's Park. It was founded by royal charter in 1827 ...

and the

London School of Economics The London School of Economics and Political Science (LSE) is a public university, public research university located in London, England and a constituent college of the federal University of London. Founded in 1895 by Fabian Society members Sidn ...

. In 1930, he started at the

League of Nations The League of Nations (french: link=no, Société des Nations ) was the first worldwide intergovernmental organisation whose principal mission was to maintain world peace. It was founded on 10 January 1920 by the Paris Peace Conference that ...

as a specialist in monetary and banking issues. He joined the Bank of Canada in 1940, becoming executive assistant to the Governors of the Bank from 1943 to 1954 and Deputy Governor in 1955. He served as Canada's executive director at the

International Monetary Fund The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster glo ...

from 1946 until 1962. He was also executive director at the International Bank for Reconstruction and Development from 1950 to 1962. In 1968, he was made a Companion of the

Order of Canada The Order of Canada (french: Ordre du Canada; abbreviated as OC) is a Canadian state order and the second-highest honour for merit in the system of orders, decorations, and medals of Canada, after the Order of Merit. To coincide with the cen ...

, Canada's highest civilian honour, "for his services to Canada and a life-long career in the fields of international economic affairs and central banking". In 1968, he was awarded the Outstanding Achievement Award, the highest honour in the Public Service of Canada. He was the first Canadian to receive an honorary degree from

Yeshiva University Yeshiva University is a private Orthodox Jewish university with four campuses in New York City."About YU
on the Yeshiva Universi ...

. He also received honorary degrees from

Carleton University Carleton University is an English-language public research university in Ottawa, Ontario, Canada. Founded in 1942 as Carleton College, the institution originally operated as a private, non-denominational evening college to serve returning Wo ...

Trent University Trent University is a public liberal arts university in Peterborough, Ontario, with a satellite campus in Oshawa, which serves the Regional Municipality of Durham. Trent is known for its Oxbridge college system and small class sizes.

, the

University of British Columbia The University of British Columbia (UBC) is a public research university with campuses near Vancouver and in Kelowna, British Columbia. Established in 1908, it is British Columbia's oldest university. The university ranks among the top thre ...

and Concordia University (1975). In the 1960s, the distinguished

Rideau Club The Rideau Club is a private social club in Ottawa, Ontario. The club was founded in 1865 by Sir John A. Macdonald and Sir George-Étienne Cariter as a gentlemen's club, but since 1979 has been mixed-sex. For much of its history the club was pop ...

in Ottawa declined to admit Rasminsky on account of the fact that he was Jewish. It succumbed to pressure from Prime Minister

Lester B. Pearson Lester Bowles "Mike" Pearson (23 April 1897 – 27 December 1972) was a Canadian scholar, statesman, diplomat, and politician who served as the 14th prime minister of Canada from 1963 to 1968. Born in Newtonbrook, Ontario (now part of ...

, among others.https://ottawacitizen.com/opinion/columnists/stain+Canada+tolerant+history/7710997/story.html Canadian historian Bruce Muirhead received the Joseph and Fay Tanenbaum Award for Canadian Jewish History for his biography of Rasminsky, ''Against the Odds: The Public Life and Times of Louis Rasminsky'' (University of Toronto Press, 1999). His daughter, Lola Rasminsky, is the Founder and Director of the Avenue Road Arts School in Toronto. His son, Dr. Michael Rasminsky, practices neurology at the

Montreal General Hospital The Montreal General Hospital (MGH) (french: Hôpital Général de Montréal) is a hospital in Montreal, Quebec, Canada established in the years 1818-1820. The hospital received its charter in 1823. It is currently part of the McGill University ...

References

External links

Order of Canada Citation

Louis Rasminsky
at

The Canadian Encyclopedia ''The Canadian Encyclopedia'' (TCE; french: L'Encyclopédie canadienne) is the national encyclopedia of Canada, published online by the Toronto-based historical organization Historica Canada, with the support of Canadian Heritage. Available f ...

{{DEFAULTSORT:Rasminsky, Louis 1908 births 1998 deaths People from Montreal Canadian Jews Alumni of the London School of Economics Canadian Commanders of the Order of the British Empire Governors of the Bank of Canada Companions of the Order of Canada University of Toronto alumni