Lawrence Clayton (March 1, 1891 – December 4, 1949) was an American banker and corporate executive 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 mo ...

from 1947 until his death in 1949. Clayton was a longtime assistant and ally to Chairman Marriner S. Eccles. Son of Nephi Willard Clayton and Sybella White, and grandson of William Clayton and Augusta Braddock Clayton. Had three children: Sybella White Clayton G'Schwend (March 12, 1922 – June 3, 2013), "Larry" Lawrence Clayton Jr (1924–1988), and Barbara Ruth Clayton Gookin (June 9, 1926 – December 15, 2013), all likely born in Ogden, Utah. Lawrence Jr was born in Washington D.C. Clayton received an A.B. from

Stanford University Leland Stanford Junior University, commonly referred to as Stanford University, is a Private university, private research university in Stanford, California, United States. It was founded in 1885 by railroad magnate Leland Stanford (the eighth ...

in 1914 and an

LL.B. A Bachelor of Laws (; LLB) is an undergraduate law degree offered in most common law countries as the primary law degree and serves as the first professional qualification for legal practitioners. This degree requires the study of core legal subje ...

from

Harvard Law School Harvard Law School (HLS) is the law school of Harvard University, a Private university, private research university in Cambridge, Massachusetts. Founded in 1817, Harvard Law School is the oldest law school in continuous operation in the United ...

in 1916. He served in the Field Artillery of the US Army in France during World War 1. President

Harry S. Truman Harry S. Truman (May 8, 1884December 26, 1972) was the 33rd president of the United States, serving from 1945 to 1953. As the 34th vice president in 1945, he assumed the presidency upon the death of Franklin D. Roosevelt that year. Subsequen ...

appointed Clayton as a governor of the

Federal Reserve System The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of ...

, effective February 14, 1947. Clayton died of a heart attack at home at the age of 58 while in office. Clayton is buried at

Arlington National Cemetery Arlington National Cemetery is the largest cemetery in the United States National Cemetery System, one of two maintained by the United States Army. More than 400,000 people are buried in its 639 acres (259 ha) in Arlington County, Virginia. ...

Section 8 Grave 539 with his wife Ruth Myrtle Dunn Clayton (September 26, 1896 – October 12, 1954).

References

External links

Works by and about Lawrence Clayton
on

FRASER Fraser may refer to: Places Antarctica * Fraser Point, South Orkney Islands Australia * Fraser, Australian Capital Territory, a suburb in the Canberra district of Belconnen * Division of Fraser (Australian Capital Territory), a former federal ...

Federal Reserve History Summary of Life
1891 births 1949 deaths 20th-century American businesspeople Federal Reserve System governors Harvard Law School alumni Businesspeople from Boston Stanford University alumni Truman administration personnel {{US-business-bio-1890s-stub