Adding information to whyun's reply; the standardization of dimension lumber sizes was achieved by the development and adoption of the National Grade Rule for Softwood Dimension Lumber. My 1998 Western Wood Products grade rule book indicates that the NGR was developed concurrently with PS 20-70. PS 20 is a voluntary product standard for the manufacture of soft wood lumber.
If you compare the dimension lumber grade rules published by WWPA, WCLB, SPIB and NLGA, you will see that they are identical.