Virtual Museum of Art | Virtual Museum of History | Virtual Public Library | Virtual Science Center | Virtual Museum of Natural History | Virtual War Museum
   You are in: Museum of History >> Hall of North and South Americans >> Hugh McCulloch





American’s Four United Republics: Discovery-Based Curriculum

For more information go to Historic.us

 

Appleton's Cyclopedia of American Biography, edited by James Grant Wilson, John Fiske and Stanley L. Klos. Six volumes, New York: D. Appleton and Company, 1887-1889 and 1999. Virtualology.com warns that these 19th Century biographies contain errors and bias. We rely on volunteers to edit the historic biographies on a continual basis. If you would like to edit this biography please submit a rewritten biography in text form . If acceptable, the new biography will be published above the 19th Century Appleton's Cyclopedia Biography citing the volunteer editor





Virtual American Biographies

Over 30,000 personalities with thousands of 19th Century illustrations, signatures, and exceptional life stories. Virtualology.com welcomes editing and additions to the biographies. To become this site's editor or a contributor Click Here or e-mail Virtualology here.



A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

 





Click on an image to view full-sized

Hugh McCulloch

McCULLOCH, Hugh, secretary of the treasury, born in Kennebunk, Maine, 7 December, 1808. He entered Bow(loin in 1824, but leaving, on account of illness, in 1826, taught until 1829, and then studied law in Kennebunk and Boston. In 1833 he went to the west, and settled in Fort Wayne, hid. In 1835 he was elected cashier and manager of the branch at Fort Wayne of the State bank of Indiana, and at the expiration of its , ***!: charter in 1856 he became the president of the Bank of the state of Indiana, which post he held until May, 1868 He then resigned to accept the office of comptroller of the currency, which was tendered to him by See. Salmon P. Chase, undertaking the organization of the newly created bureau and the putting into operation of the national banking system. His own reputation for conservatism influenced the managers of the large state banks, and promoted the conversion of the leading credit institutions of the commercial cities into national banks. In March, 1865, on the resignation of William P. Fessenden, Mr. McCulloeh was appointed by President Lincoln secretary of the treasury, at which time the government was in great financial embarrassment. It was still incurring enormous expenses, and heavy demands were pressing upon a nearly empty treasury. His first and most important duty, therefore, was to raise by further loans what was needed to pay the large amount due to 500,000 soldiers and sailors, whose services the government was in a condition to dispense with, and meet other demands. This was successfully accomplished, and in less than six months from the time of his appointment all the matured obligations of the government were paid, and the reduction of the debt was begun. The next most important work was the conversion of more than $1,000,000,000 of short-time obligations into a funded debt. This was quietly effected, and in a little more than two years the whole debt of the country was put into a satisfactory shape. In his annual reports he advocated a steady reduction of the national debt, the retirement of the legal-tender notes, and a speedy return to specie payments, urging that a permanent public debt might be dangerous to Republican institutions, he believed, also, that it was not the business of the government to furnish the people with a paper currency, that it had no power under the constitution to make its own notes lawful money, and that the paper currency of the country should be furnished by the banks. His views upon the subject of the debt were sustained by congress, as were also for a short time those in regard to the legal-tender notes. See***. McCulloch held office till 4 March, 1869. From 1871 till 1878 he was engaged in banking in London. In October, 1884, on the resignation of Walter Q. Gresham, he was again appointed secretary of the treasury, and continued in office until the expiration of President Arthur's term, 4 March, 1885, being the only man that has held that office twice. Since his retirement he has resided in Washington, D. C., and on his farm in Maryland. Mr. McCulloch has contributed articles on financial and economical questions to the magazines and public journals. A series of letters written by him in London for the New York "Tribune" in 1875 were extensively copied, and were used by the Republicans in Ohio in 1875 for political purposes.

Edited Appletons Encyclopedia, Copyright © 2001 VirtualologyTM

Start your search on Hugh McCulloch.


 

 


 


Unauthorized Site: This site and its contents are not affiliated, connected, associated with or authorized by the individual, family, friends, or trademarked entities utilizing any part or the subject's entire name. Any official or affiliated sites that are related to this subject will be hyper linked below upon submission and Evisum, Inc. review.

Copyright© 2000 by Evisum Inc.TM. All rights reserved.
Evisum Inc.TM Privacy Policy

Search:

About Us

 

 

Image Use

Please join us in our mission to incorporate America's Four United Republics discovery-based curriculum into the classroom of every primary and secondary school in the United States of America by July 2, 2026, the nation’s 250th birthday. , the United States of America: We The People Click Here

 

Childhood & Family

Click Here

 

Historic Documents

Articles of Association

Articles of Confederation 1775

Articles of Confederation

Article the First

Coin Act

Declaration of Independence

Declaration of Independence

Emancipation Proclamation

Gettysburg Address

Monroe Doctrine

Northwest Ordinance

No Taxation Without Representation

Thanksgiving Proclamations

Mayflower Compact

Treaty of Paris 1763

Treaty of Paris 1783

Treaty of Versailles

United Nations Charter

United States In Congress Assembled

US Bill of Rights

United States Constitution

US Continental Congress

US Constitution of 1777

US Constitution of 1787

Virginia Declaration of Rights

 

Historic Events

Battle of New Orleans

Battle of Yorktown

Cabinet Room

Civil Rights Movement

Federalist Papers

Fort Duquesne

Fort Necessity

Fort Pitt

French and Indian War

Jumonville Glen

Manhattan Project

Stamp Act Congress

Underground Railroad

US Hospitality

US Presidency

Vietnam War

War of 1812

West Virginia Statehood

Woman Suffrage

World War I

World War II

 

Is it Real?



Declaration of
Independence

Digital Authentication
Click Here

 

America’s Four Republics
The More or Less United States

 
Continental Congress
U.C. Presidents

Peyton Randolph

Henry Middleton

Peyton Randolph

John Hancock

  

Continental Congress
U.S. Presidents

John Hancock

Henry Laurens

John Jay

Samuel Huntington

  

Constitution of 1777
U.S. Presidents

Samuel Huntington

Samuel Johnston
Elected but declined the office

Thomas McKean

John Hanson

Elias Boudinot

Thomas Mifflin

Richard Henry Lee

John Hancock
[
Chairman David Ramsay]

Nathaniel Gorham

Arthur St. Clair

Cyrus Griffin

  

Constitution of 1787
U.S. Presidents

George Washington 

John Adams
Federalist Party


Thomas Jefferson
Republican* Party

James Madison 
Republican* Party

James Monroe
Republican* Party

John Quincy Adams
Republican* Party
Whig Party

Andrew Jackson
Republican* Party
Democratic Party


Martin Van Buren
Democratic Party

William H. Harrison
Whig Party

John Tyler
Whig Party

James K. Polk
Democratic Party

David Atchison**
Democratic Party

Zachary Taylor
Whig Party

Millard Fillmore
Whig Party

Franklin Pierce
Democratic Party

James Buchanan
Democratic Party


Abraham Lincoln 
Republican Party

Jefferson Davis***
Democratic Party

Andrew Johnson
Republican Party

Ulysses S. Grant 
Republican Party

Rutherford B. Hayes
Republican Party

James A. Garfield
Republican Party

Chester Arthur 
Republican Party

Grover Cleveland
Democratic Party

Benjamin Harrison
Republican Party

Grover Cleveland 
Democratic Party

William McKinley
Republican Party

Theodore Roosevelt
Republican Party

William H. Taft 
Republican Party

Woodrow Wilson
Democratic Party

Warren G. Harding 
Republican Party

Calvin Coolidge
Republican Party

Herbert C. Hoover
Republican Party

Franklin D. Roosevelt
Democratic Party

Harry S. Truman
Democratic Party

Dwight D. Eisenhower
Republican Party

John F. Kennedy
Democratic Party

Lyndon B. Johnson 
Democratic Party 

Richard M. Nixon 
Republican Party

Gerald R. Ford 
Republican Party

James Earl Carter, Jr. 
Democratic Party

Ronald Wilson Reagan 
Republican Party

George H. W. Bush
Republican Party 

William Jefferson Clinton
Democratic Party

George W. Bush 
Republican Party

Barack H. Obama
Democratic Party

Please Visit

Forgotten Founders
Norwich, CT

Annapolis Continental
Congress Society


U.S. Presidency
& Hospitality

© Stan Klos

 

 

 

 


Virtual Museum of Art | Virtual Museum of History | Virtual Public Library | Virtual Science Center | Virtual Museum of Natural History | Virtual War Museum