Despain, Donald C.

Donald Cameron Despain was born in Plattsmouth, Nebraska, on August 19, 1881. He attended the University of Nebraska in the fall semester of 1902 where he studied law and political economy. After his time at the University he worked for the Nebraska Bureau of Statistics and advanced to the rank of commissioner. Leaving Nebraska, Despain moved to Chicago, Illinois, where he worked as an attorney specializing in management and labor relations. Despain believed in insuring bank deposits and worked towards making this a standard banking practice. According to Despain, his work resulted in the Federal Deposit Insurance Corporation (FDIC). Despain also believed that the use of agricultural products for alcohol based fuel or fuel-additives could assist American farms. In 1961 his book, The One and Only Solution to the Farm Problem, was published. Despain passed away on April 8, 1971.