Ogden L. Mills

Ogden Livingston Mills (August 23 1884 – October 11 1937) was an American lawyer and businessman who served as the United States Secretary of the Treasury from 1932 to 1933 under President Herbert Hoover. Prior to his cabinet appointment, Mills had a long career in public service that included terms in the New York State Senate, the U.S. House of Representatives, and a position as Undersecretary of the Treasury during the administration of President Calvin Coolidge. After leaving federal office he remained active in business circles and published two books expressing his views on economic policy.

Early life and career

Mills was born in Newport, Rhode Island, to Ogden Mills, a financier and racehorse owner, and Ruth T. Livingston, granddaughter of Maturin Livingston. He grew up in a family that combined financial acumen with social prominence; his twin sisters were Beatrice Mills Forbes and Gladys Mills Phipps, both of whom would later be notable figures in their own right. His grandfather, banker Darius Ogden Mills, further anchored the family's legacy in American finance.

He pursued higher education at Harvard University, graduating in 1904, and then attended Harvard Law School, completing his degree in 1907. After admission to the bar in 1908, he began a legal practice that would serve as a foundation for his later public roles.

Mills’s early career also involved significant business interests. Together with sister Gladys, he owned Wheatley Stable, a horse racing and breeding operation that produced notable thoroughbreds such as Seabiscuit and Bold Ruler. The stable also bred Kantar, the winner of the 1928 Prix de l'Arc de Triomphe. Following his father's death in 1929, Mills inherited a substantial portion of the family estate—$12,197,034—which he shared with his sisters.

His entry into politics began at the state level. Mills served as a delegate to the Republican National Conventions in 1912, 1916, and 1920. From 1915 to 1917 he represented New York in the State Senate, sitting in the 138th through 140th legislatures. In 1917 he chaired the Committee on Affairs of New York City. That same year, Mills resigned his senate seat on July 31 to enlist in the United States Army as a captain; he served until the end of World War I.

After the war, Mills became president of the New York State Tax Association, a role that reflected his growing interest in fiscal matters. In 1921 he was elected to the U.S. House of Representatives from New York’s 17th congressional district, serving three consecutive terms (67th–69th Congresses) until March 3, 1927. During this period he participated in national legislative processes and developed a reputation as an advocate for fiscal responsibility.

In 1926 Mills sought the governorship of New York on the Republican ticket but was defeated by incumbent Democrat Al Smith. His statewide campaign, however, expanded his visibility and positioned him for future federal appointments.

Cabinet tenure

Mills’s first federal appointment came in 1927 when President Calvin Coolidge named him Undersecretary of the Treasury. He served under Secretary Andrew W. Mellon, contributing to the administration’s fiscal policies during a period of relative economic stability.

In 1932, amid the deepening crisis of the Great Depression, President Herbert Hoover appointed Mills as Secretary of the Treasury. The Senate confirmed his nomination, and he assumed office on March 4, 1932. As secretary, Mills advocated for tax increases and spending cuts, promoting austerity measures that were intended to restore fiscal balance but also contributed to a worsening economic downturn. He served in this capacity until March 3, 1933, when the administration was succeeded by President Franklin D. Roosevelt.

During his tenure, Mills acted as an adviser to Hoover and played an active role in the president’s reelection campaign. He traveled extensively—visiting cities such as Detroit, St. Louis, Los Angeles, San Francisco, Chicago, and Minneapolis—to support Hoover’s bid for a second term. His campaigning efforts underscored his commitment to the administration’s economic philosophy.

After leaving the Treasury Department, Mills remained critical of the policies pursued by the incoming Roosevelt administration. He continued to engage in public discourse through written works and business leadership roles.

Legacy

Mills’s legacy is multifaceted, encompassing contributions to fiscal policy, political life, and business leadership. As Secretary of the Treasury during a pivotal moment in American economic history, he championed measures that reflected a belief in limited government intervention and balanced budgets. His advocacy for tax increases and spending reductions has been noted by scholars as part of the broader debate over appropriate responses to economic crises.

Beyond his cabinet service, Mills maintained an active presence in the private sector. He served on the boards of several major companies, including Lackawanna Steel Company, Atchison, Topeka and Santa Fe Railway, Virginia & Truckee Railroad, Mergenthaler Linotype Company, and Shredded Wheat Company. These positions allowed him to influence corporate governance and industrial strategy during a period marked by significant economic transformation.

Mills also contributed to public intellectual life through his publications. In 1935 he released *What of Tomorrow*, followed in 1937 by *The Seventeen Million*. Both works articulated his perspectives on economic policy, offering critiques of the New Deal and proposing alternative approaches to fiscal management.

His personal life intersected with prominent social circles. He married Margaret Stuyvesant Rutherfurd in 1911; their marriage ended in divorce in 1919. In 1924 he wed Dorothy Randolph Fell, a former wife of banker John R. Fell. Mills had no biological children but became the stepfather to three children from his second wife's previous marriage.

Mills died of heart disease on October 11 1937 in Manhattan, New York. He was interred at St. James Churchyard in Hyde Park, New York. His death marked the end of a career that bridged law, politics, business, and public service during some of the most turbulent decades of early twentieth‑century America.