A Guide to the Lloyd M. Bentsen, Jr., Papers

Biographical Note

Lloyd Millard Bentsen, Jr., Secretary of the Treasury of the United States, U.S. Senator and Representative, businessman, Texas county judge, and decorated World War Two veteran, was born in Mission, Texas, on February 11, 1921. Growing up on a Rio Grande Valley farm, he learned to speak both English and Spanish. During his youth, the family's means were modest, but his father, Lloyd, Sr., and his uncle, Elmer, eventually developed vast ranching, farming, real estate, and banking enterprises in South Texas.

Lloyd M. Bentsen, Jr., completed his University of Texas at Austin (UT) law degree in June 1942, months after U.S. entry into World War Two. Twenty-one years old, he volunteered for the Army and received officer and combat intelligence training. In 1943, he attended flight school and married Beryl Ann (B.A.) Longino of Lufkin, whom he had met at UT. Bentsen commanded a B-24 bomber squadron based in Italy, and was responsible for six hundred men. He earned the Distinguished Flying Cross, the Air Medal with three oak clusters, and was promoted to Colonel in the Army Reserve.

After the war, Bentsen returned to the Rio Grande Valley and opened a law practice in McAllen. Soon he entered elective politics, winning the race for County Judge of Hidalgo County in 1946. Two years later, adapting the campaign literature of another young veteran, Representative John F. Kennedy, he won a seat in the U.S. House of Representatives as a Democrat. At twenty-seven years old, Bentsen was the youngest member of Congress in 1949. The Speaker of the House, Democrat Sam Rayburn of Texas, recognized Bentsen's potential for leadership and introduced him to many of the most powerful figures in Washington. Bentsen proved to be independent, occasionally opposing Rayburn and Democratic President Harry Truman.

After serving in the House for three terms, Bentsen decided not to run for reelection in 1954. Though Rayburn had told him that he might become Speaker himself in time, Bentsen wished to enter business and to provide for his family. He and B.A. had three children, Lloyd M., III; Lan; and Tina. With financial support from his father and uncle, Bentsen began the Consolidated American Life Insurance Company in Houston. Later, he bought out Lincoln Liberty Life Insurance of Nebraska and developed Lincoln Consolidated, a major holding company involved in such financial services as banks, savings and loans, and mutual funds. Bentsen continued as a significant advisor to and fundraiser for moderate Texas Democrats during his years in business.

In 1970, encouraged by former Governor John B. Connally, Bentsen returned to politics as a candidate. Despite polls showing that very few Texas voters recognized his name, he challenged Senator Ralph Yarborough in the Democratic primary. Yarborough, anticipating an autumn race against Republican George H. W. Bush, was unprepared for Bentsen's challenge. Bentsen won the hard-fought primary against the senator, united the party behind his campaign, and narrowly defeated Bush in November.

Bentsen, almost forty-nine years old, returned to Washington with fifteen years of experience in business and finance. As a senator, he valued bipartisanship, recognizing the necessity of compromise and strategy. He maintained one of Congress's largest and best-run offices, in order to be well informed and to provide services to his constituents. Known since his House days for his disciplined campaign organizations, Bentsen scrupulously separated his personal and election finances. Though he entered the Senate with a reputation as a fiscal conservative, his personal fairness and knowledge of finance and economic policy earned him the respect of both labor and management groups.

Bentsen's intellect and tactical brilliance also impressed Senate colleagues. As a freshman senator on the Commerce, Science and Transportation Committee, he successfully maneuvered the Employee Retirement Income Security Act (ERISA) a long-stalled pension reform bill, to passage. He served on the Armed Services Committee early in his career, then, in 1973, joined the Finance Committee. In 1975, before he had completed his first Senate term, he announced his candidacy for the presidency. Bentsen's campaign gained little momentum and Governor Jimmy Carter of Georgia won the Democratic nomination and the presidency, though Bentsen won reelection to the Senate over Republican nominee Alan Steelman. Bentsen supported President Carter's arms control efforts and provided a crucial vote for the Panama Canal Treaty. In 1979-1980, Bentsen chaired the Joint Economic Committee, which issued unusual unanimous reports in those years.

Bentsen's stature in the Democratic Party continued to grow during the presidency of Ronald Reagan (1981-1989). In 1982, when he ran for reelection against Representative James Collins, his organization assisted other Texas Democrats' campaigns, resulting in success for the party at all levels. Bentsen led the Democratic Senatorial Campaign Committee for the national party in 1982-1984, and was a prospective vice-presidential nominee in 1984. In 1987, he became Chairman of the Finance Committee. Continuing to advocate policies of fiscal responsibility, tax reform, and workers' rights, Bentsen had become increasingly interested in trade policy and expanding the United States' foreign markets.

In 1988, Governor Michael S. Dukakis of Massachusetts, Democratic nominee for the Presidency, selected Bentsen to be his vice-presidential running mate. The two faced the Republican ticket of Vice-President George H. W. Bush and Senator Dan Quayle. Though the Bush-Quayle ticket won the election, Bentsen earned widespread admiration for his campaigning and debating skills, and was reelected to the Senate by Texans that year over Republican nominee Beau Boulter. Nationally known and chairman of an important committee, he was widely recognized as one of the most powerful members of the Senate.

Disappointing many in his party, Bentsen decided not to run for president in 1992. Governor Bill Clinton of Arkansas won the nomination and the office. President-elect Clinton, whom Bentsen knew from their work together on the centrist Democratic Leadership Council, invited the senator to serve as his Secretary of the Treasury. Bentsen resigned from the Senate and took the position in January 1993, when he was nearly seventy-two years old. As Treasury Secretary, Bentsen accomplished many goals he had been working toward in the Senate, including increasing American trade markets through the passage of the North American Free Trade Agreement (NAFTA) and General Agreement on Tariffs and Trade (GATT) measures. He helped President Clinton to secure major legislation lowering the federal deficit while increasing spending on education and training. Secretary Bentsen also served Clinton as an advisor and legislative strategist on non-fiscal issues.

Bentsen served as Treasury Secretary through what would have been the end of his fourth Senate term, stepping down in December 1994 and returning to Houston. Though he and B.A. had several grandchildren and enjoyed a variety of hobbies, notably tennis, he continued to work as a partner in the Verner, Liipfert, Bernhard, McPherson and Hand law firm, as an advisor to the Beacon Group, an investment bank, and as a member of several corporate boards. Bentsen kept up a full schedule until 1998, when he retired after a decline in his health.

In 1999, President Clinton awarded Bentsen the United States' highest civilian honor, the Presidential Medal of Freedom. "A man of courage, wisdom, and civility, Lloyd Bentsen has set the highest standard for public service," stated the citation.

Scope and Contents

Correspondence, printed material, creative works, legal documents, financial documents, minutes, photographic materials, sound recordings, and works of art make up the papers of Senator Lloyd M. Bentsen, Jr. (1930-1994, bulk 1971-1993). Bentsen and his staff created the bulk of the material during his term as United States Senator from Texas (1971-1993), though the papers also contain records from Bentsen's term as United States Secretary of the Treasury (1993-1994). A limited amount of the material documents Bentsen's career in business and his private life. Few records exist from his term in the United States House of Representatives (1948-1955).

The material is organized in ten subgroups. The first seven subgroups consist of records from Bentsen's Senate offices.

Restrictions

Use Restrictions

Some material stored offsite; advance notice required for retrieval. Use of some materials restricted due to special formats. See Subgroup Scope and Content Notes.

Administrative Information

Preferred Citation

Lloyd M. Bentsen, Jr., Papers, 1921-1998, Center for American History, The University of Texas at Austin

Other Finding Aid

Organization of the Lloyd M. Bentsen, Jr., Papers

See other electronic finding aids for complete subgroup descriptions and inventories.