Statement on the Death of Arthur F. Burns

June 26, 1987

Nancy and I are saddened to learn of the passing of Dr. Arthur F. Burns. Dr. Burns was among the most brilliant economists of his generation. He had an enduring belief in the strength of individual enterprise and the wisdom of a free people.

For 35 years Arthur Burns helped guide the economic policies of our country. As Chairman of the Federal Reserve Board in the 1970's, he contributed to the shaping of American monetary policy during a difficult and critical period. As Chairman of the Council of Economic Advisers during President Eisenhower's first term, he helped return stability and growth to the American economy of the early fifties. During the first 4\1/2\ years of my administration, Dr. Burns served with great distinction as Ambassador to the Federal Republic of Germany. There he proved a wise and skillful diplomat as well as a trusted adviser. He was also a friend to the West German people and their leaders.

America has lost one of its most dedicated and able public servants, a man of great gifts who gave those gifts freely to the Nation he loved. Nancy and I send our sympathies to his wife, Helen, and to their entire family, who are in our prayers.