Honorary Degree Citation - Louis Rasminsky*

by James G. Finnie, June 1975

Mr. Chancellor

I have the honour to present to you Mr. Louis Rasminsky, a Canadian, internationally recognized as an authority in the disciplines of Economics and Finance.

Born in this city of Montreal, in 1908, Mr. Rasminsky obtained his secondary education at the University of Toronto, the London School of Economics, and has devoted his entire career to the areas of International Economic Affairs and Central Banking. At the age of 22 years he joined the staff of the LEAGUE OF NATIONS serving as a specialist in Monetary and Banking matters, and in 1940 he joined the Bank of Canada, organized the Research and 'Statistical Section of Canada's Foreign Exchange Control Board, while in 1942 he became the Board's Alternate Chairman and Chief Executive Officer. From 1943 to 1954 Mr. Rasminsky became Executive Assistant to the GOVERNORS of the BANK OF CANADA, was appointed DEPUTY-GOVERNOR of the Bank of Canada in 1955, GOVERNOR in 1961, and was reappointed to a second term as GOVERNOR in 1968.

During these many years he has continued to serve his country to the best of his ability; he is Governor for Canada of the International Monetary Fund, of which he was an original Executive Director, and served in this capacity until 1962. He was Chairman of the Drafting Committee at the Bretton Woods Conference which approved the International Monetary Fund Articles of Agreement, and was an Executive Director of the International Bank for Reconstruction and Development from 1950 1962.

Since 1953 Mr. Rasminsky has been awarded Honorary recognition from several Institutions of Higher Learning, was granted the Outstanding Achievement Award of the Public Service of Canada, and made a Companion of the Order of Canada in 1968.

Mr. Chancellor, on behalf of the University Senate, and by authority of the Board of Governors, I am honoured to present to you Mr. Louis Rasminsky, that you may confer upon him the degree of DOCTOR OF LAWS, honoris causa.

* deceased