Born in Scotland, George W. Campbell (1769-1848) moved with his family to North Carolina in 1772. When President Madison appointed him Secretary of the Treasury in 1814, he became to first cabinet member from a region west of the Appalachian Mountains. Campbell entered office during the War of 1812 and the state of the nation's finances was in serious disorder. Congress had failed to recharter the First Bank of the United States after its charter expired in 1811 and had not made appropriations to finance the War of 1812.
Campbell's most perplexing problem was convincing the American people to buy government bonds to pay for the war. Much of the nation's money was concentrated in New England, which was opposed to the war, and though Campbell put up bonds for sale and begged northern bankers to subscribe, he could not inspire their confidence. He was forced to meet to lenders terms, selling government bonds at exorbitant interest rates. In September 1814 the British occupied Washington and the credit of the government was lowered even further. Campbell was unsuccessful in his efforts to raise money through additional bond sales and he resigned that October after only eight months in office, disillusioned and in bad health.
- Text Courtesy of the Office
of the Curator
Forgotten Founders Historic Documents and Coins of Freedom - By Stanley
L. Klos - Last Exhbit at the 2008 GOP Convention:
http://www.pinellasrepublican.org/
Forgotten Founders Historic Documents and Coins of Freedom - By Stanley
L. Klos
Uncommon Sense: President Obama and
US China Trade 1784-2009
The United Colonies 1st
government began in a Philadelphia Tavern
and the United States 1st federal government ended in a
NYC Tavern!
The Founders convened the government in 11 different capitol buildings and
experienced 15 years of challenges that
included war,
hyper-inflation, a failed
constitution, judicial corruption, armed citizen and U.S. Army rebellions.
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