Louis Rasminsky facts for kids
Quick facts for kids
Louis Rasminsky
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Rasminsky, c. 1964
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| 3rd Governor of the Bank of Canada | |
| In office July 1961 – February 1, 1973 |
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| Appointed by | Diefenbaker Ministry |
| Preceded by | James Coyne |
| Succeeded by | Gerald Bouey |
| Personal details | |
| Born | February 1, 1908 Montreal, Quebec |
| Died | September 15, 1998 (aged 90) Ottawa, Ontario |
| Alma mater | London School of Economics |
Louis Rasminsky (February 1, 1908 – September 15, 1998) was a very important Canadian. He was the third Governor of the Bank of Canada. He held this top position from 1961 to 1973. He helped guide Canada's money system for many years.
Contents
Early Life and Education
Louis Rasminsky was born in Montreal, Quebec, in 1908. He grew up in Toronto, Ontario. He went to Harbord Collegiate Institute for high school.
He continued his studies at the University of Toronto. Later, he studied at the London School of Economics in England. He was a very smart student.
A Career in Finance
After finishing his education, Louis Rasminsky started working in 1930. He joined the Economic and Financial Organization of the League of Nations. This group worked on money and banking issues around the world. He became an expert in these areas.
In 1940, he joined the Bank of Canada. This is Canada's central bank. It helps manage the country's money and economy. He quickly moved up in the bank. From 1943 to 1954, he was an executive assistant to the Governors. In 1955, he became the Deputy Governor.
Louis Rasminsky also worked with important international groups. From 1946 to 1962, he was Canada's executive director at the International Monetary Fund. This fund helps countries with their money problems. He also served as executive director at the International Bank for Reconstruction and Development from 1950 to 1962. This bank helps countries rebuild and develop.
Governor of the Bank of Canada
In July 1961, Louis Rasminsky became the Governor of the Bank of Canada. He took over from James Coyne. He led the bank for over a decade. He retired from this role on February 1, 1973. Gerald Bouey became the next Governor.
Awards and Recognition
Louis Rasminsky received many honors for his work. In 1968, he was made a Companion of the Order of Canada. This is the highest award a civilian can receive in Canada. He earned it for his great service to Canada. It also recognized his long career in international money matters and central banking.
Also in 1968, he received the Outstanding Achievement Award. This is the highest honor for someone working in Canada's public service. He was the first Canadian to get an honorary degree from Yeshiva University. He also received honorary degrees from other universities. These included Carleton University, Trent University, the University of British Columbia, and Concordia University.
Standing Up for Fairness
In the 1960s, a private club in Ottawa called the Rideau Club did not want to admit Rasminsky. This was because he was Jewish. However, Prime Minister Lester B. Pearson and others put pressure on the club. Because of this, the club changed its rules and admitted Rasminsky. This showed a step towards greater fairness.
Family Life
Louis Rasminsky had a daughter named Lola Rasminsky. She started and directs the Avenue Road Arts School in Toronto. His son, Dr. Michael Rasminsky, is a neurologist. He practices medicine at the Montreal General Hospital.
