Hugh McCulloch

Hugh McCulloch
27th and 36th United States Secretary of the Treasury
In office
October 31, 1884 – March 7, 1885
PresidentChester A. Arthur
Preceded byWalter Q. Gresham
Succeeded byDaniel Manning
In office
March 9, 1865 – March 3, 1869
PresidentAbraham Lincoln
Andrew Johnson
Preceded byWilliam P. Fessenden
Succeeded byGeorge S. Boutwell
Comptroller of the Currency
In office
February 25, 1863 – March 9, 1865
PresidentAbraham Lincoln
Preceded byPosition established
Succeeded byFreeman Clarke
Personal details
Born(1808-12-07)December 7, 1808
Kennebunk, Maine, U.S.
DiedMay 24, 1895(1895-05-24) (aged 86)
Prince George's County, Maryland, U.S.
Political partyRepublican
ResidenceHugh McCulloch House
EducationBowdoin College
Signature

Hugh McCulloch (December 7, 1808 – May 24, 1895) was an American financier who played a central role in financing the American Civil War. He served two non-consecutive terms as U.S. Treasury Secretary under three presidents. He was originally opposed to the creation of a system of national banks, but his reputation as head of the Bank of Indiana from 1857 to 1863 persuaded the Treasury to bring him in to supervise the new system as Comptroller of the Currency 1863–1865. As Secretary of the Treasury 1865–1869 he reduced and funded the gigantic Civil War debt of the union, and reestablished the federal taxation system across the former Confederate States of America. He tried but failed to make a rapid return to the gold standard.

He was the last surviving member of the Lincoln Cabinet.