United States Secretary of the Treasury facts for kids
Quick facts for kidsUnited States Secretary of the Treasury
Flag of the Secretary of the Treasury
Seal of the Department of the Treasury
|United States Department of the Treasury|
|Style||Madam Secretary (informal)
The Honorable (formal)
National Security Council
|Reports to||President of the United States|
|Appointer||President of the United States
with Senate advice and consent
|Term length||At the pleasure of the President|
|Constituting instrument||31 U.S.C. § 301|
|Formation||September 11, 1789|
|First holder||Alexander Hamilton|
|Deputy||United States Deputy Secretary of the Treasury|
|Salary||Executive Schedule, Level I|
The United States Secretary of the Treasury is the head of the United States Department of the Treasury. The Secretary is concerned with finance and monetary matters, and, until 2003, some issues of national security and defense. This position in the Federal Government of the United States is similar to the finance ministers of other nations.
From the U.S. Department of the Treasury website:
- "The Secretary of the Treasury is the principal economic advisor to the President and plays a critical role in policy-making by bringing an economic and government financial policy perspective to issues facing the government. The Secretary is responsible for formulating and recommending domestic and international financial, economic, and tax policy, participating in the formulation of broad fiscal policies that have general significance for the economy, and managing the public debt. The Secretary oversees the activities of the Department in carrying out its major law enforcement responsibilities; in serving as the financial agent for the United States Government; and in manufacturing coins and currency.
- "The Chief Financial Officer of the government, the Secretary serves as Chairman Pro Tempore of the President's Economic Policy Council, Chairman of the Boards and Managing Trustee of the Social Security and Medicare Trust Funds, and as U.S. Governor of the International Monetary Fund, the International Bank for Reconstruction and Development, the Inter-American Development Bank, the Asian Development Bank, and the European Bank for Reconstruction and Development."
Secretaries of the Treasury
Note: Robert Morris was the first person appointed Secretary of the Treasury by George Washington, but Morris declined this office; thus the 1st Secretary of the Treasury was Alexander Hamilton - appointed at Morris's suggestion. Morris had held a similar position as Superintendent of Finance under the Continental Congress. From Morris's 1784 resignation until 1789, the young union's finances were overseen by a three-member Treasury Board. 
Status acting Secretary of the Treasury Denotes Nominee for Secretary of the Treasury
|No.||Portrait||Name||State of residence||Took office||Left office||President(s)|
|1||Alexander Hamilton||New York||September 11, 1789||January 31, 1795||George Washington|
|2||Oliver Wolcott, Jr.||Connecticut||February 3, 1795||December 31, 1800|
|3||Samuel Dexter||Massachusetts||January 1, 1801||May 13, 1801|
|4||Abraham Alfonse Albert Gallatin||Pennsylvania||May 14, 1801||February 8, 1814|
|5||George W. Campbell||Tennessee||February 9, 1814||October 5, 1814|
|6||Alexander J. Dallas||Pennsylvania||October 6, 1814||October 21, 1816|
|Pennsylvania||October 21, 1816||October 22, 1816|
|7||William H. Crawford||Georgia||October 22, 1816||March 6, 1825|
|8||Richard Rush||Pennsylvania||March 7, 1825||March 5, 1829||John Quincy Adams|
|9||Samuel D. Ingham||Pennsylvania||March 6, 1829||June 20, 1831||Andrew Jackson|
|10||Louis McLane||Delaware||August 8, 1831||May 28, 1833|
|11||William J. Duane||Pennsylvania||May 29, 1833||September 22, 1833|
|12||Roger B. Taney||Maryland||September 23, 1833||June 25, 1834|
|13||Levi Woodbury||New Hampshire||July 1, 1834||March 3, 1841|
|Martin Van Buren|
|14||Thomas Ewing||Ohio||March 4, 1841||September 11, 1841||William Henry Harrison|
|15||Walter Forward||Pennsylvania||September 13, 1841||March 1, 1843|
|16||John C. Spencer||New York||March 8, 1843||May 2, 1844|
|17||George M. Bibb||Kentucky||July 4, 1844||March 7, 1845|
|18||Robert J. Walker||Mississippi||March 8, 1845||March 5, 1849||James K. Polk|
|19||William M. Meredith||Pennsylvania||March 8, 1849||July 22, 1850||Zachary Taylor|
|20||Thomas Corwin||Ohio||July 23, 1850||March 6, 1853||Millard Fillmore|
|21||James Guthrie||Kentucky||March 7, 1853||March 6, 1857||Franklin Pierce|
|22||Howell Cobb||Georgia||March 7, 1857||December 8, 1860||James Buchanan|
|23||Philip Francis Thomas||Maryland||December 12, 1860||January 14, 1861|
|24||John Adams Dix||New York||January 15, 1861||March 6, 1861|
|25||Salmon P. Chase||Ohio||March 7, 1861||June 30, 1864||Abraham Lincoln|
|26||William P. Fessenden||Maine||July 5, 1864||March 3, 1865|
|27||Hugh McCulloch||Indiana||March 9, 1865||March 3, 1869|
|28||George S. Boutwell||Massachusetts||March 12, 1869||March 16, 1873||Ulysses S. Grant|
|29||William Adams Richardson||Massachusetts||March 17, 1873||June 3, 1874|
|30||Benjamin Bristow||Kentucky||June 4, 1874||June 20, 1876|
|31||Lot M. Morrill||Maine||July 7, 1876||March 9, 1877|
|32||John Sherman||Ohio||March 10, 1877||March 3, 1881||Rutherford B. Hayes|
|33||William Windom||Minnesota||March 8, 1881||November 13, 1881||James A. Garfield|
|Chester A. Arthur|
|34||Charles J. Folger||New York||November 14, 1881||September 4, 1884|
|35||Walter Q. Gresham||Indiana||September 5, 1884||October 30, 1884|
|36||Hugh McCulloch||Indiana||October 31, 1884||March 7, 1885|
|37||Daniel Manning||New York||March 8, 1885||March 31, 1887||Grover Cleveland|
|38||Charles S. Fairchild||New York||April 1, 1887||March 6, 1889|
|39||William Windom||Minnesota||March 7, 1889||January 29, 1891||Benjamin Harrison|
|40||Charles Foster||Ohio||February 25, 1891||March 6, 1893|
|41||John G. Carlisle||Kentucky||March 7, 1893||March 5, 1897||Grover Cleveland|
|42||Lyman J. Gage||Illinois||March 6, 1897||January 31, 1902||William McKinley|
|43||L. M. Shaw||Iowa||February 1, 1902||March 3, 1907|
|44||George B. Cortelyou||New York||March 4, 1907||March 7, 1909|
|45||Franklin MacVeagh||Illinois||March 8, 1909||March 5, 1913||William Howard Taft|
|46||William G. McAdoo||New York||March 6, 1913||December 15, 1918||Woodrow Wilson|
|47||Carter Glass||Virginia||December 16, 1918||February 1, 1920|
|48||David F. Houston||Missouri||February 2, 1920||March 3, 1921|
|49||Andrew W. Mellon||Pennsylvania||March 4, 1921||February 12, 1932||Warren G. Harding|
|50||Ogden L. Mills||New York||February 13, 1932||March 4, 1933|
|51||William H. Woodin||New York||March 5, 1933||December 31, 1933||Franklin D. Roosevelt|
|52||Henry Morgenthau, Jr.||New York||January 1, 1934||July 22, 1945|
|53||Fred M. Vinson||Kentucky||July 23, 1945||June 23, 1946||Harry S. Truman|
|54||John Wesley Snyder||Missouri||June 25, 1946||January 20, 1953|
|55||George M. Humphrey||Ohio||January 21, 1953||July 29, 1957||Dwight D. Eisenhower|
|56||Robert B. Anderson||Connecticut||July 29, 1957||January 20, 1961|
|57||C. Douglas Dillon||New Jersey||January 21, 1961||April 1, 1965||John F. Kennedy|
|Lyndon B. Johnson|
|58||Henry H. Fowler||Virginia||April 1, 1965||December 20, 1968|
|59||Joseph W. Barr||Indiana||December 21, 1968||January 20, 1969|
|60||David M. Kennedy||Utah||January 22, 1969||February 10, 1971||Richard Nixon|
|61||John Connally||Texas||February 11, 1971||June 12, 1972|
|62||George P. Shultz||Illinois||June 12, 1972||May 8, 1974|
|63||William E. Simon||New Jersey||May 8, 1974||January 20, 1977|
|64||W. Michael Blumenthal||Michigan||January 23, 1977||August 4, 1979||Jimmy Carter|
|65||G. William Miller||Rhode Island||August 7, 1979||January 20, 1981|
|66||Donald Regan||New Jersey||January 22, 1981||February 1, 1985||Ronald Reagan|
|67||James Baker||Texas||February 4, 1985||August 17, 1988|
|–||M. Peter McPherson
|Michigan||August 17, 1988||September 15, 1988|
|68||Nicholas F. Brady||New Jersey||September 15, 1988||January 17, 1993|
|George H. W. Bush|
|69||Lloyd Bentsen||Texas||January 20, 1993||December 22, 1994||Bill Clinton|
|–||Frank N. Newman
|Massachusetts||December 22, 1994||January 11, 1995|
|70||Robert Rubin||New York||January 11, 1995||July 2, 1999|
|71||Lawrence Summers||Massachusetts||July 2, 1999||January 20, 2001|
|72||Paul H. O'Neill||Pennsylvania||January 20, 2001||December 31, 2002||George W. Bush|
|–||Kenneth W. Dam
|Illinois||December 31, 2002||February 3, 2003|
|73||John W. Snow||Virginia||February 3, 2003||June 30, 2006|
|–||Robert M. Kimmitt
|Virginia||June 30, 2006||July 10, 2006|
|74||Henry Paulson||Illinois||July 10, 2006||January 20, 2009|
|–||Stuart A. Levey
|Ohio||January 20, 2009||January 26, 2009||Barack Obama|
|75||Timothy Geithner||New York||January 26, 2009||January 25, 2013|
|–||Neal S. Wolin
|Illinois||January 25, 2013||February 28, 2013|
|76||Jack Lew||New York||February 28, 2013||January 20, 2017|
|–||Adam J. Szubin
|Washington, D.C.||January 20, 2017||February 13, 2017||Donald Trump|
|77||Steven Mnuchin||California||February 13, 2017||January 20, 2021|
|Virginia||January 20, 2021||January 25, 2021||Joe Biden|
|78||Janet Yellen||California||January 25, 2021||—|
William Jones served as acting secretary between the resignation of Alexander J. Dallas and appointment of William H. Crawford.
Deputy Secretary of the Treasury M. Peter McPherson served as acting secretary of the treasury from August 17, 1988, to September 15, 1988.
Because of the resignation of Deputy Secretary of the Treasury Roger Altman in August 1994, Under Secretary of Treasury for Domestic Finance Frank N. Newman served from December 22, 1994, to January 11, 1995, as acting secretary of the treasury.
Deputy Secretary of the Treasury Kenneth W. Dam served as acting secretary of the treasury from December 31, 2002, to February 3, 2003.
Deputy Secretary of the Treasury Robert M. Kimmitt served as acting secretary of the treasury from June 30, 2006, to July 9, 2006.
Under Secretary for Terrorism and Financial Intelligence Stuart A. Levey served as acting secretary of the treasury from January 20, 2009, until the confirmation of Timothy Geithner, which occurred January 26, 2009.
Deputy Secretary of the Treasury Neal Wolin served as acting secretary of the treasury from January 25, 2013, until the confirmation of Jack Lew which occurred February 28, 2013.
Acting Under Secretary for Terrorism and Financial Intelligence Adam J. Szubin served as acting secretary of the treasury from January 20, 2017, until the confirmation of Steven Mnuchin which occurred February 13, 2017.
Acting Secretaries of the Treasury
- William Jones served as acting secretary between the resignation of Alexander J. Dallas and appointment of William H. Crawford.
- Because of the resignation of Deputy Secretary of Treasury Roger Altman in August 1994, Under Secretary of Treasury for Domestic Finance Frank Newman served from December 22, 1994 to January 11, 1995 as Acting Secretary of Treasury.
- Deputy Secretary of Treasury Kenneth W. Dam served as Acting Secretary of Treasury from December 31, 2002 to February 3, 2003.
- Deputy Secretary of Treasury Robert Kimmitt served as Acting Secretary of Treasury from June 30, 2006 to July 9, 2006.
- Deputy Secretary of Treasury Neal Wolin served as Acting Secretary of Treasury from January 25, 2013 to February 28, 2013.
United States Secretary of the Treasury Facts for Kids. Kiddle Encyclopedia.