Upon the recommendation of Treasury Secretary Andrew W. Mellon, President Coolidge appointed Ogden L. Mills (1884-1937) Undersecretary of the Treasury in 1927. To Mills fell much of the responsibility for representing the Treasury Department before Congress. Mills continued as Undersecretary in President Hoover's administration, during which the dominant issues were the post World War I reconstruction of Europe and the German American Debt Funding Agreement (1930) which arranged German payment to the United States for costs suffered by the American army and citizens during World War I.
Toward the end of his term Secretary Mellon spent much of his time overseas, and President Hoover grew to rely greatly on Mills, who served as Acting Secretary during Mellon's absence. Hoover promoted Mills to Secretary when Mellon vacated the position in 1932. As Secretary, Mills continued the policies of his predecessor, recommending a drastic reduction in government spending and a tax increase, in order to balance the budget by 1934. Congress also imposed a general manufacturer's excise tax but neither of these policies helped alleviate the Depression. Mills resigned at the end of Hoover's term in 1933.
- 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.
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.
