Not since Jackie Kennedy in the 1960s was there a more style-conscious first lady. Well acquainted with elite fashion designers before the 1981 inauguration of her husband, former actress Nancy Reagan's expensive taste and conservative style made fashion headlines throughout the decade. She was known for her trim suits, simple linear gowns, and her signature color, red. While some were outraged by the extravagance of her $25,000 inaugural-ball wardrobe (a price she denies), she had fans among American fashion designers and the fashion industry. Designers for whom Nancy Reagan showed enthusiasm, such as Bill Blass and James Galanos, were keenly aware of her valuable fashion influence, and they offered her expensive dresses and suits free of charge. In an era of haves and have-nots, this practice caused disapproval among those who were accustomed to paying for their wardrobes. (In 1982 she promised not to accept the designers'...