Raymond Saulnier

Raymond Joseph “Steve” Saulnier “, age 100, of Chestertown, Maryland, died on April 30, 2009, at Heron Point in Chestertown, Maryland. He was born September 20, 1908 in South Hamilton, Massachusetts, the son of Philip and Mary McArdle Saulnier. The first of his family to pursue higher education, he earned his BA at Middlebury College, his MA at Tufts University, and his PhD in economics at Columbia University. His thesis was titled “Contemporary Monetary Theory”. He remained at Columbia and subsequently at Barnard College to teach economics. Throughout his professional career he held numerous posts related to the field of economic study and research. Three that gave him great satisfaction were Director of Financial Research for the National Bureau of Economic Research, lecturer at the School of Military Government (located during WWII at Columbia) and Chairman of the Council of Economic Advisors under President Dwight D. Eisenhower. Despite the general liberal, Democratic climate at Columbia in the years from 1932 to 1952, he was a consistent Republican and a voice for the distinct minority in the community. During the early 1950’s, he was a leader in raising support for Eisenhower for President and that sentiment was so unusual that the New York Times gave them coverage on the front page. During the eight years of Eisenhower’s Presidency he consulted for, was a member of and, in 1956, became Chairman of the President’s Council of Economic Advisors. He remained Chairman until 1961, and oversaw five Economic Reports of the President. His association with Eisenhower and the privilege to serve under him remained for “Steve” the highlight of a long and very active career. At the end of the Eisenhower Administration, he returned to New York City with his wife, Estelle Sydney, and settled into teaching, consulting, serving as a Board member on a number of corporations and enjoying the cultural life of the city. He was an economic advisor to ITT in the 1960s and 1970s. He also published periodically during each year a newsletter entitled “Notes on the Economy,” a witty analysis of economic developments and their implications for economic growth, interest rates and stocks. In 1992, he and Estelle moved to Heron Point in Chestertown, Maryland. Until 2001, he maintained an office in Chestertown and enjoyed again the life of a small town. His wife Estelle, of over sixty years, died in 1996. He is survived by a son, Mark Saulnier of Summit, New Jersey, a daughter, Alice Ritchie, of Chestertown, five grandchildren, Sarah, Peter, Renny, Kyra and Hope, and seven great grand children, William, Marina, Emily C., Emily S., Amelia, John and Mattie, and his good friend Beth Meree. Memorial donations may be made to Heron Point Benevolent Fund, 501 E. Campus Ave, Chestertown, MD 21620 or Sacred Heart Church, 508 High St. Chestertown, MD 21620. Arrangements by Fellows, Helfenbein & Newnam Funeral Home, 130 Speer Rd. Chestertown, MD 21620. www.fhnfuneralhome.com

Raymond Saulnier

September 20, 1908 - April 30, 2009