C. Douglas Dillon, President Kennedy's Economic Envoy*

Abstract

ABSTRACT This article focuses on President John F. Kennedy's Secretary of the Treasury, C. Douglas Dillon and contends that he played an important part in sustaining the political cooperation that underpinned the Bretton-Woods system during one of its first crisis points. Rather than focusing solely on structural, economic trends, the article suggests that individual actors mattered as well. As a bipartisan figure that was well regarded in Europe, Dillon was able to act effectively as an envoy to the private sector, principally Wall Street, and to France, which both threatened the stability of the dollar. The article explores Dillon's role in shaping Kennedy's economic policies in a more conservative direction than his successor, Lyndon B. Johnson, and in his external efforts to garner support for the Democratic administration.