Ernest Baughman, 97

Advisor to Eisenhower

Share on Facebook
Share on Twitter
Print

Ernest T. Baughman, 97, of Oak Park died on Dec. 30, 2012 at Hospice of the Valley, Sherman House in Phoenix, Ariz. Born in Ackworth, Iowa in 1915, he grew up on a farm near Randall, Minn.. He graduated from the College of Agriculture at the University of Minnesota in 1939 with B.S. majors in Agricultural Economics, Animal Husbandry and in General Economics. He received his M.S. degree in 1941 in Agricultural Economics.

Following military service in WWII, he joined the Research Department of the Federal Reserve Bank of Chicago as an agricultural economist, was promoted to first vice-president of the bank in 1970 and appointed president of the Federal Reserve Bank of Dallas in 1974. He retired in 1980.

During these years he participated in numerous regional and national economic advisory committees, including the Federal Open Market Committee, the nation's primary monetary policy-making body. In 1955, he accepted a White House assignment in Washington D.C. as an economic consultant to President Eisenhower and as an advisor on the Foreign Disposal of Agricultural Surpluses.

Following his retirement, he lectured on finance and economics at the University of Texas in Dallas and Triton Junior College in River Grove. In his later retirement, he spent time playing tennis in Oak Park's Taylor Park with his 90-year-old buddies, whittling, writing short stories, and hosting numerous family gatherings loaded with oral histories, humorous anecdotes and insightful dialogue. His openness to learning and to all things educational was his hallmark.

Family members describe him as "a truly great father whose life serves as a model for us today."

Ernest Baughman is survived by his children, Carol (John) Dudzik, Dr. Verna Baughman, and Francine Baughman; his grandchildren, Dr. Melinda Davis (Ryan Burns) and Rebecca Davis; his great-grandchildren, Amelia and Kevin Burns; his brother, Edmund; and his late-life friend, Maryann Cox. He was preceded in death by his wife, Esther Bajari; his sister, Gertrude; and his brothers, Lewis, George, Allen, LeRoy and Charles.

Mr. Baughman donated his body for medical research. A written memorial is being created by his family and friends. You may send entries to fbaughman@gmail.com.

Memorials are suggested to the University of Minnesota and the Ernest T. Baughman Endowed Scholarship Fund, Department of Agriculture, College of Food, Agricultural and Natural Resource Sciences in St. Paul, Minn., and/or your favorite educational charity.

Reader Comments

No Comments - Add Your Comment

Comment Policy

Quick Links

Sign-up to get the latest news updates for Oak Park and River Forest.


            
SubscribeClassified
Photo storeContact us
Submit Letter To The Editor
Place a Classified Ad

Classified Ad

Latest Comments