Katherine D. Ortega
Katherine Ortega | |
---|---|
38th Treasurer of the United States | |
In office September 26, 1983 – July 1, 1989 | |
President | Ronald Reagan George H. W. Bush |
Preceded by | Bay Buchanan |
Succeeded by | Cathi Vásquez Villalpando |
Personal details | |
Born | Tularosa, New Mexico, U.S. | July 16, 1934
Political party | Republican |
Spouse | Lloyd Derrickson |
Education | Eastern New Mexico University (BA) |
Signature | |
Katherine Dávalos Ortega (born July 16, 1934) is a former politician who was the 38th Treasurer of the United States. She served from September 26, 1983 to July 1, 1989 under Presidents Ronald Reagan and then George H. W. Bush. Ortega also has the distinction of being the first female bank president in the state of California.
Early life
Ortega was born in Tularosa, New Mexico to Donaciano Ortega and Catarina Dávalos. She was one of nine children. Her family had originally come to New Mexico when the area still comprised a territory. Ortega's paternal grandfather arrived from Texas in the 1880s while on her mother's side, her great-grandfather Luciano had been one of the original settlers of Tularosa in 1862.[1][2]
Ortega's father, a former Justice of the Peace in nearby Bent,[3] opened a blacksmith shop in Tularosa in 1928. By the 1940s, he owned a small restaurant with a dance hall attached in which the entire family worked. Ortega began to work in the restaurant at age 10, operating the cash register. Originally, Ortega grew up speaking only Spanish. She later learned English when she entered the local elementary school.[1][4]
As a teenager, Ortega worked as a teller at
Banking career
In 1968, Ortega moved to Los Angeles where she became a CPA and joined the firm of Peat, Marwick, Mitchell & Company as a tax supervisor. She also worked as a cashier at Pan American National Bank, a financial institution founded in 1963 by Romana Acosta Bañuelos. Ortega became vice president of the bank in 1971 the same year that Bañuelos was sworn-in as U.S. Treasurer. Finally, in 1975, Ortega became president of Santa Ana State Bank, the first woman chief executive of a bank in the state.[5][6]
Ortega returned to New Mexico in 1977 in order to help run the family accounting firm. Under her stewardship, the company grew into the Otero Savings and Loan Association and, by 1983, had assets of $20 million. During this time, Ortega garnered numerous academic and business accolades for her efforts.[5]
Political appointments
Ortega was involved in Republican Party politics from an early age. "I was born a Republican," she has been quoted on several occasions.[5][7][8] She often credited her father, a lifelong Republican, with her decision to join the Party.[1]
Ortega worked for Republicans at local and state levels initially as a type of low-key liaison to women and Hispanic groups in New Mexico. After her return to her home state, she became involved in the 1978 re-election campaign of Sen. Pete Domenici.[5] In time, the senator became something of a political benefactor.
In April 1982, Ortega was named to a 10-person Presidential Advisory Committee on Small and Minority Business Ownership by President
U.S. Treasurer
Ortega was sworn in on October 3, 1983 (however, she is listed by the Treasury Department as having begun her term on September 26).
While Treasurer, Ortega oversaw a $220 million budget, raised $40 million toward the restoration of the Statue of Liberty, and helped to design a new currency to aid in preventing counterfeiting. She also spearheaded the effort to have the West Point Bullion Depository designated as an official United States Mint.[citation needed]
Although soft-spoken in personal conversation, Ortega became known for her rhetorical speaking skills in public. "Her low-key authenticity works magic with an audience," one
As the highest-ranking Hispanic (until the appointment of
In 1986, Ortega conducted a study that rejected the idea of changing the colors of $50 and $100 denomination bills in order to frustrate counterfeiters and drug lords with large amounts of such type of cash. This idea would later be partially incorporated into U.S. currency during subsequent administrations.[11]
After Reagan left office, Ortega was retained by the George H. W. Bush administration and reappointed to her post on January 20, 1989.[9] She retired from the office in July and returned to her family firm in New Mexico.
Post-Treasurer years
While Ortega returned to the private sector and business activities, she still maintained a low profile in political circles. In 1990, she was appointed by President Bush to serve as an Alternate Representative to the United Nations General Assembly for the duration of his administration. She also worked in an advisory capacity for the National Park Service and the non-profit organization, Executive Women in Government.[4]
Ortega served on the Boards of a number of large corporations:
Sicpa investigation
Ortega's years as Treasurer came partially under scrutiny in 1992 when Sen.
In 2002, Ortega's achievements from humble beginnings were recognized by the Horatio Alger Association of Distinguished Americans when she received the organization's Horatio Alger Award.[13][14]
Family life
Ortega has cited her family upbringing as her chief inspiration in life:
I am the product of a heritage that teaches strong family devotion, a commitment to earning a livelihood by hard work, patience, determination and preseverance [sic].[7]
She has often singled out her father in particular, saying that "[he] taught me we were as good as anybody else, that we could accomplish anything we wanted ..."[1]
Ortega was married briefly when she returned to New Mexico in the late 1970s. In interviews, she has declined to elaborate on that part of her life, insisting only that she be referred to as "Mrs. Ortega". She has no children.
Notes
- ^ a b c d e f g h Susan Rasky, "I Was Born a Republican," The New York Times (August 21, 1984): A20.
- ^ a b St. Joseph Mission, New Interior Entryway Finished! The Burden Basket (May 2007): 2.
- ^ Map of Bent, Mapquest.com. Accessed on June 22, 2009.
- ^ a b c d e f "Katherine Davalos Ortega," Encyclopedia of World Biography (via Answers.com). Accessed on June 22, 2009.
- ^ a b c d e Robert McFadden, "Choice for Treasurer: Katherine Davalos Ortega," The New York Times (September 13, 1983): A1.
- ^ Vicki Ruíz and Virginia Sánchez Korrol, "Latina U.S. Treasurers," Latinas in the United States: A Historical Encyclopedia, Volume I (Bloomington, IN: Indiana University Press, 2006), 374-375.
- ^ a b Francis X. Clines, "Reagan Names Hispanic Woman as Treasurer of the United States," The New York Times (September 13, 1983): B14.
- ^ a b "Remarks at the Swearing-in Ceremony for Katherine D. Ortega as Treasurer of the United States, October 3, 1983," Ronald Reagan Presidential Library, University of Texas web site (archived). Accessed on June 21, 2009.
- ^ a b United States Department of the Treasury, "Treasurers of the U.S.," Archived 2009-07-27 at the Wayback Machine History the Treasury. Accessed on June 28, 2009.
- ^ Abigail Trafford, et al., "She's come a long way- or has she? (women's equality)," U.S. News & World Report, (August 6, 1984).
- ^ Editorial staff, "A New Drug War Weapon," Albany Times Union (September 27, 1989).
- ^ "Katherine D. Ortega," NNDB, Soylent Communications. Accessed on June 22, 2009.
- ^ "Outstanding Americans to Receive Horatio Alger Award;...", U.S. Newswire (November 28, 2001).
- ^ "George Graziadio, Jr. Receives Horatio Alger Award," The Italian Voice (May 5, 2002).
- ^ Chuck Conconi, "Personalities," The Washington Post (March 29, 1989), Washington Post Newsweek Interactive Co. 1989.
- ^ "Company- Board Members: Lloyd J. Derrickson," Archived 2009-08-06 at the Wayback Machine World Cell. Accessed on June 28, 2009.