Leslie Melville

Sir Leslie Melville
Born	Leslie Galfreid Melville (1902-03-26) 26 March 1902 Sydney, Australia
Died	30 April 2002(2002-04-30) (aged 100)
Occupation(s)	Economist, scholar, government official, academic
Years active	1920s–1974
Known for	Shaping Australia's central banking framework; Vice-Chancellor of Australian National University (1953–1960); Australian representative at Bretton Woods Conference

Sir Leslie Galfreid Melville (26 March 1902–30 April 2002) was a distinguished Australian economist, scholar, and government official. He played a crucial role in shaping Australia's central banking framework and acted as the nation's representative at major international economic gatherings following the Second World War. Additionally, Melville was instrumental in advancing the Australian National University, holding the office of Vice-Chancellor from 1953 until 1960.

Early life and origins

Born in Sydney in 1902, Leslie Melville was the son of Richard Ernest Melville, who had Irish ancestry, and Lillian Evelyn née Thatcher, of English heritage. The family endured financial difficulties after his father lost his bank manager position during World War I and a subsequent unsuccessful investment worsened their situation. These experiences influenced Leslie’s economic perspective. He secured a scholarship to Sydney Church of England Grammar School (Shore), where he excelled in mathematics, earning the nickname "Isaac Newton of Shore."

Initially enrolling in engineering at the University of Sydney, Melville transitioned to actuarial science and began working with the NSW Superannuation Fund. Balancing full-time employment with evening classes, he eventually shifted his focus to economics.

Professional journey in economics

At just 22 years old, Melville was appointed Public Actuary for South Australia, providing economic advice to the government. In 1928 and 1929, he presented testimony before Royal Commissions concerning Australian constitutional and financial issues. By 1929, at age 27, he was named Foundation Professor of Economics at the University of Adelaide. The following year, he assumed the role of Chief Economic Adviser to the Commonwealth Bank, a post he held for 23 years during which he significantly influenced Australia's strategy for managing the Great Depression.

Melville represented Australia at the 1932 Ottawa Imperial Trade Conference and participated in the 1933 World Economic Conference held in London. A prolific author on economic matters, he frequently challenged established opinions, notably promoting exchange rate flexibility at the 1936-37 Royal Commission on Banking and Monetary Systems. During World War II, he contributed to formulating Australia's wartime economic policies.

In 1944, Melville led Australia’s delegation to the Bretton Woods Conference, where foundational agreements for the World Bank and the International Monetary Fund (IMF) were established. His clear communication, persuasive advocacy, and diplomatic finesse earned praise from John Maynard Keynes.

By 1950, Melville was appointed as Australia’s Executive Director to both the World Bank and IMF.

Academic leadership

Between 1953 and 1960, Melville served as Vice-Chancellor of the Australian National University (ANU). Following his retirement from this role, he continued his association with academia as an honorary fellow within the Department of Economics at the Research School of Pacific and Asian Studies (RSPAS).

Roles within government

Despite H. C. Coombs recognizing Melville as an exceptional candidate who was passed over for Governor of the Reserve Bank of Australia, Melville completed three terms as a Board Member. Upon his retirement, Coombs commended his unparalleled contributions to central banking theory and its practical application.

In 1960, Melville took on the Chairmanship of the Tariff Board but stepped down in 1962 due to disagreements with Trade Minister John McEwen. Later, in 1966, he was appointed Chairman of the Commonwealth Grants Commission, a position he retained until 1974.

Personal life

In 1925, Melville wed Mary Scales, and together they had two sons named Galfrid (known as Tig) and Anthony. He marked his centennial birthday in March 2002 at Canberra's Commonwealth Club, an institution he played a role in establishing, before passing away a month later. Upon his death, he was survived by his son Anthony, along with three grandchildren and five great-grandchildren.

Tragically, his close associate Professor Heinz Arndt, who was scheduled to deliver Melville's eulogy, lost his life in a car accident while traveling to the funeral.

Honours

Melville received the appointment of Commander of the Order of the British Empire (CBE) in the 1953 New Year's Honours for his contributions to the Commonwealth Bank. Four years later, in 1957, he was promoted to Knight Commander (KBE).

The Australian National University honors his contributions through the annual Sir Leslie Melville Lecture series, first launched in March 2002 by then Reserve Bank Governor Ian Macfarlane. Additionally, Melville Hall and Melville Place at ANU bear his name as a tribute.