Ralston won election to the United States Senate from Indiana, defeating Albert Beveridge in November 1922. The New York Times ran a lengthy story on his wife, referring to her as a "Chicken Farmer" because she was reluctant to move to Washington D.C., she did not want to leave her chickens unattended. He took up his Senate seat on March 4, 1923. In the senate he advocated the adoption of the Mellon tax plan, which was effectively a wealth redistribution plan.