Preston Delano
Preston Delano (April 2, 1886 – August 31, 1961) was a United States Comptroller of the Currency from October, 1938 to 1953.[1] He inherited this Office from an Acting Comptroller of the Currency from April 1938 to September 1938 named Marshall R. Diggs.
Preston Delano | |
|---|---|
 | |
| Comptroller of the Currency | |
| In office October, 1938 – 1953 | |
| President | Franklin D. Roosevelt Harry S. Truman |
| Preceded by | J. F. T. O'Connor |
| Succeeded by | Ray M. Gidney |
| Personal details | |
| Born | April 2, 1886 Phoenix, Michigan |
| Died | August 31, 1961 (aged 75) Washington, D.C. |
| Nationality | American |
| Occupation | banker, businessman, investment counselor |
Preston Delano held office for 14 years, the longest term of any Comptroller. Delano was a businessman, investment counselor, and served as governor of the Home Loan Bank Board when appointed Comptroller by President Franklin D. Roosevelt.
He was responsible for preserving and stabilizing the national banks during the Second World War, which vastly increased the volume of money needed for war expenditures, subsequently causing government debt to rise substantially. Delano entered retirement after his resignation.
Delano was a "distant cousin" of President Roosevelt,[2] and part of the extended Delano family.
