Ronald Ransom became a member of the Board of Governors of the Federal Reserve System on February 1, 1936. He was appointed vice chairman of the Board of Governors on August 6, 1936, and served in this role until his death in 1947.
Ransom was born in Columbia, South Carolina, in 1882. He graduated from the University of Georgia in 1903 with a law degree. That same year, he was admitted to the Georgia bar and practiced law in Atlanta until 1922. Ransom served as first lieutenant, Chemical Warfare Service, in the US Army in 1918. He also served the southern division of the American Red Cross in 1918.
From 1922 until 1936, Ransom worked for the Fulton National Bank of Atlanta, serving as vice president (1922–33) and executive vice president (1933–36).
Ransom was also active in a number of community and professional organizations. He was president of the Atlanta Clearing House Association in 1929. From 1932 to 1933, he was a member of the Special Relief Commission of Atlanta and chairman of the Georgia Relief Commission in 1933. He was a member of the Georgia Bankers Association (1931-32) and served on several committees of the American Bankers Association between 1932 and 1934. He also was a member of Sigma Alpha Epsilon and Beta Gamma Sigma.
Ransom was married and had a daughter.
Written by the Board of Governors of the Federal Reserve System. See disclaimer.