Ratchford, Benjamin Ulysses, 1902-1977

Benjamin Ulysses Ratchford graduated from Davidson College in 1926. In 1927, he received his M.A. in economics from Duke University and his Ph. D. in 1932, the first awarded by Duke in economics. He remained on the faculty at Duke until 1960, and spent time in Europe after World War II, studying and reporting on the economy. He received the Medal of Freedom, given by the War Department to civilians who performed meritorious service in the war, for his work in Berlin. Ratchford left Duke University in 1960 to head the research department at the Federal Reserve Bank in Richmond, until his retirement in 1967. He died in 1977.

From the description of Collection, 1932-1967. (American Museum of Natural History). WorldCat record id: 722090285

Benjamin U. Ratchford (1902-1977) served as professor of economics at Duke University from 1928-1960. An expert in public finance, Ratchford was involved a number of economic policy projects, including the reconstruction of Germany after World War II.

From the description of Benjamin U. Ratchford Papers, 1924-1980. (Duke University Library). WorldCat record id: 55635830

Benjamin Ulysses Ratchford was born in Gastonia, N.C. on Sept. 7, 1902, to Joseph F. and Marietta Ratchford. He earned a B.S. from Davidson College (1926), and earned the first doctorate in economics awarded by Duke University in 1932. After serving briefly as an economics instructor at Cornell University (1927-1928), Ratchford returned to Duke and joined the faculty of the Economics Department in 1928. While at Duke, Ratchford authored several books, such as American State Debts (1941), Berlin Reparations Assignment (with W. D. Ross, 1947), The Impact of Federal Policies on the Economy of the South (with Calvin B. Hoover, 1949), Economic Resources and Policies of the South (with Calvin B. Hoover, 1951), The Economy of Turkey (with others, 1951), and Public Expenditures in Australia (1959), as well as numerous articles in professional journals.

He also served in a number of official positions, including Raleigh District Price Officer for the Office of Price Administration (1942-1943), Instructor in the Army Finance School (1943-1944), Economic Advisor for Level of Industry in the Office of Military Government for Germany in Berlin (1945-1946), Deputy Chief of the Office of Program Review for the Economic Cooperation Administration in Paris (1948), and Chief Economist for the International Bank Reconstruction and Development Mission to Turkey (1950). Ratchford received the Medal of Freedom in 1946 for his work on German reparations, awarded by the War Department to civilians performing meritorious service overseas during World War II. Davidson College awarded him a Citation of Merit in 1948, an honor made on the basis of a national poll of Davidson alumni.

Ratchford was also a member of the board of editors of the Southern Economic Journal (1941-1945) and of the American Economic Review (1946-1949), and he directed research for the National Planning Association's Committee of the South. He was a member of the American Finance Association, the National Tax Association, the American Economic Association, and the Southern Economic Association (President, 1952-1953).

In 1960, Ratchford left Duke to become vice president of the Federal Reserve Bank in Richmond, Va. He retired from that position in 1967, and returned to Durham, N.C.

He married Laura B. Deaton in 1932; they had two children. Benjamin U. Ratchford died Jan. 20, 1977.

From the guide to the Benjamin U. Ratchford Papers, ., 1924 - 1980, (University Archives, Duke University)