Famous New Jersey Mason
Clarence Douglas Dillon
Clarence Douglas Dillon was nominated by President John F. Kennedy to be the 57th Secretary of the Treasury. He served from January 21, 1961 to April 1, 1965.
He served as Under Secretary of State for President Eisenhower from June 12, 1959 until January 4, 1961, at the time of his appointment by President Kennedy to head the Treasury Department. In his position at the State Department, he was responsible for the economic policies and programs of the Department of State and for coordinating the Mutual Security Program, both in its military and nonmilitary aspects. These duties were in addition to the Under Secretary's traditional responsibilities. He directed the State Department's economic activities from March 1957, when he was appointed Deputy Under Secretary for Economic Affairs, a position that was elevated to the Under Secretary level by the Congress in 1958. While in the State Department, he attended several Foreign Ministers meetings and headed a number of U.S. delegations to international conferences. The latter include the meeting of the Committee of 21 of the Organization of American States which, in September 1960, concluded the Act of Bogota, and the Ministerial Meeting in Paris in December 1960, which put into final form the Convention for the Organization for Economic Cooperation and Development.
Dillon was not only well versed in the economic programs of the Government, but was one of the founders of the Inter-American Development Bank in 1959. It was established to promote the economic development of Latin America.
As Secretary of the Treasury, Dillon was the United States spokesman for the Kennedy Administration's program of aid for the economic development of Latin America under the Alliance for Progress Program in 1961. The work continued under President Johnson, who had pledged his support for continuing aid for the Alliance for Progress.
Mr. Dillon had a long career in the international field as an investment banker prior to entering Government Service. He was a member of the New York Stock Exchange from 1931 to 1936, and in 1936 became a Director and subsequently President of the United States and Foreign Securities Corporation. In 1938, he became a Vice President and Director of Dillon, Read and Company, being elected Chairman of the Board in 1946.
Mr. Dillion saw active service in the navy during World War II, receiving decorations for combat actions. In 1953, President Eisenhower appointed him Ambassador to France. He served in that position from February 27, 1953, until the President appointed him Under Secretary of State for Economic Affairs in 1959.
Dillon was born in Geneva, Switzerland, on August 21, 1909, the son of Clarence and
Ann Douglass Dillon. He gratuated from Groton in 1927 and Harvard in 1931 magna cum laude. He served both his schools, as a trustee of Groton School, and a member of
the Board of Overseers of Harvard University from 1952 until 1958. Mr. Dillon received
many honors for achievement in public affairs, government service, and creativity in
banking. He was awarded Honorary Degrees by Harvard, Columbia, New York University, Lafayette College, Williams College, Hartford College, Rutgers University,
Princeton University, and the University of Pennsylvania. In 1959, he was named "Outstanding Citizen of New Jersey." He also received the Lafayette Fellowship
Foundation Gold Medal.