Collection context
Summary
- Creators:
- Sproul, Allan, 1896-
- Abstract:
- Allan Sproul's papers primarily concern his financial and banking activities and interests. Much of the collection consists of correspondence, both to and from other bankers and economists, largely discussing financial trends and policies. The collection also contains extensive files relating to his work with the Federal Reserve Bank of New York and with the Wells Fargo Bank of San Francisco. The collection holds a set of subject files primarily reflecting banking interests along with manuscripts of writings and talks by him and other bankers and economists. There are a few folders of personal information, clippings, awards, and a scrapbook kept by his wife, circa 1920-1938, containing clippings, photographs, programs, and telegrams.
- Extent:
- Number of containers: 10 boxes, 7 cartons Linear feet: 12.55
- Language:
- Collection materials are in English
Background
- Scope and content:
-
Allan Sproul's papers primarily concern his financial and banking activities and interests. Much of the collection consists of correspondence, both to and from other bankers and economists, largely discussing financial trends and policies. The collection also contains extensive files relating to his work with the Federal Reserve Bank of New York and with the Wells Fargo Bank of San Francisco. The collection holds a set of subject files primarily reflecting banking interests along with manuscripts of writings and talks by him and other bankers and economists. There are a few folders of personal information, clippings, awards, and a scrapbook kept by his wife, circa 1920-1938, containing clippings, photographs, programs, and telegrams.
- Biographical / historical:
-
Banker Allan Sproul, born in San Francisco on March 9, 1896, was educated in public schools and attended the University of California, Berkeley. He graduated in 1919, after serving in World War I as an army pilot for a year in 1918.
Sproul joined the Federal Reserve Bank of San Francisco on September 1, 1920, where he served as head of the bank's Division of Analysis and Research. Ten years later, in March 1930, he transferred to the New York branch as Assistant Deputy Governor and Secretary, dealing primarily with the bank's foreign operations. He was appointed First Vice President in March 1936 and continued to a large extent to supervise the bank's foreign transactions. He was in charge of the bank's open market activities and involved in formulating bank policy and overseeing the general administration of the bank. He was also manager of the System Open Market Account under the Federal Open Market Committee. On January 1, 1941, Mr. Sproul became president of the Federal Reserve Bank, a position he held until June 30, 1956 (shortly after his sixtieth birthday). During this time he was vice-chairman of the Federal Open Market Committee, directing the open market operations of all the Federal Reserve Banks.
After his retirement, Sproul returned to California, where he served on the Boards of Directors of Wells Fargo Bank in San Francisco and the Kaiser Aluminum and Chemical Corporation of Oakland, positions he held until shortly before his death in 1978.
Sproul also participated in several congressional committees, testifying on behalf of the Federal Reserve Banks. In early 1960, he visited India and Pakistan with a commission named by the International Bank for Reconstruction and Development to examine the two countries' economic conditions and plans. In 1961, as chairman of a committee named by President Kennedy, he reported on the balance of payments position of the United States and on the domestic economy. He was also appointed by Governor Edmund G. Brown in 1963-64 to chair a committee for the study of the future of banking in California, and published a report in 1965.
Sproul was a trustee and member of the Research and Policy Committee of the Committee for Economic Development. He also lectured to professional and university groups, and wrote articles for various journals and banking periodicals.
- Acquisition information:
- The Allan Sproul Papers were given to the Bancroft Library by Allan Sproul, Jr. in October 1978.
- Physical location:
- Many of the Bancroft Library collections are stored offsite and advance notice may be required for use. For current information on the location of these materials, please consult the Library's online catalog.
- Rules or conventions:
- Finding aid prepared using Describing Archives: a Content Standard
Access and use
- Location of this collection:
-
University of California, Berkeley, The Bancroft LibraryBerkeley, CA 94720-6000, US
- Contact:
- 510-642-6481