Beginning in 1789, Oliver Wolcott Jr. (b.1760-1833) played an important role in the organization of the nascent Treasury Department. First, as Auditor, he established its clerical forms and methods, and two years later, as Comptroller, he was instrumental in establishing the branches of Secretary Alexander Hamilton's First Bank of the United States. In 1800 Wolcott was appointed by President Washington to be Hamilton's successor, continuing as Secretary under President John Adams. Charged with the task of raising revenue for the rapidly growing federal government, Wolcott constantly sought and received Hamilton's advice. As Hamilton's ally he faced difficulties in Congress, where Hamilton's opponent Albert Gallatin sought more congressional control of Treasury's financial policy.
Wolcott resigned in 1800 under a storm of criticism from Jeffersonians in Congress. In reaction he invited a congressional investigation of the Treasury Department in 1801, which cleared his name.
- 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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