[Congressional Record Volume 148, Number 23 (Wednesday, March 6, 2002)]
[Extensions of Remarks]
[Pages E280-E281]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                  HONORING THE LIFE OF DARRYL FRANCIS

                                 ______
                                 

                           HON. JOHN BOOZMAN

                               of arizona

                    in the house of representatives

                        Wednesday, March 6, 2002

  Mr. BOOZMAN. Mr. Speaker, I rise today to pay tribute to the memory 
of Mr. Darryl R. Francis of Fort Smith, Arkansas.
  Darryl Francis passed away Feb. 8, 2002 in the arms of his beloved 
wife, Sherrian. He was survived by a large group of family and friends 
who will miss his contributions to their lives dearly.
  Born in 1912, Darryl Francis grew up in Ridgeway, Mo. After receiving 
his bachelor's

[[Page E281]]

degree in agriculture at the University of Missouri College of 
Agriculture in 1936, he began a career in banking that led him to the 
position of President of the Memphis branch of the Federal Reserve Bank 
of St. Louis.
  In 1976, Mr. Francis moved to Fort Smith, Arkansas to be closer to 
his family. He took the position of President, CEO and chairman of the 
board of Merchants National Bank, from which he retired in 1982 to take 
care of his former wife, Loretta, who suffered from Alzheimer's 
disease.
  Mr. Francis was responsible for the modern reputation of the Federal 
Reserve Bank of St. Louis. He lead them to take revolutionary steps in 
emphasizing the importance of inflation as a national problem. He 
showed that money creation held the central role in the inflation 
process.
  In 1966 he was awarded the Golden Step Award of the Agri-Business 
Club of St. Louis in recognition of his achievements resulting in a 
major economic impact on the St. Louis area. He also received the 
Citation of Merit Award from the University of Missouri Agriculture 
Alumni Association. He was named to a special U.S. delegation to 
Honduras in the 1950's to help set up a new banking system. He was 
honored in 2000 by the Federal Reserve by their dedication of the 25th 
annual Economic Policy Conference to him. His contributions to the 
world of banking and the systems used by that world will not be 
forgotten.
  Mr. Speaker, thank you for giving me the opportunity to honor the 
memory of Mr. Darryl Francis.

                          ____________________