Hugh MacCulloch (1808-1895)

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Lawyer, Banker, US Secretary of the Treasury

Abraham Lincoln appointed Indiana banker Hugh McCulloch as his third Secretary of the Treasury with a little more than a month to live before his assassination at the Ford Theatre.

A native of Maine, Hugh McCulloch had started his career as a lawyer in Boston but moved to Indiana where he took up the banking profession. An advocate of the gold standard, he accepted a government post as Comptroller of Currency in March 1863 and was in charge of the new system of a national paper currency. He held this post for two years and when William P. Fessenden returned to the US Senate, McCulloch was named to suceed him on 6 March 1865. Remaining on after Lincoln's death, he served under the Andrew Johnson administration, finally giving up his portfolio on the inauguration of US Grant in 1869. McCulloch returned to his banking interest and again took up the cause of a gold standard. He served a second but short term as Secretary of the treasury in the final five months of Chester A. Arthur's presidency, October 1884 to March 1885.

Hugh McCulloch: Lawyer, Banker, US Secretary of the Treasury
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