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United States Secretary of the Treasury

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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.

United States Secretary of the Treasury
Seal of the United States Department of the Treasury.svg
Seal of the Department of the Treasury
Flag of the United States Secretary of the Treasury.svg
Flag of the Secretary of the Treasury
Secretary Janet Yellen portrait (cropped) 2.jpg
Incumbent
Janet Yellen
since January 26, 2021
United States Department of the Treasury
StyleMadam Secretary (informal)
The Honorable (formal)
Member ofCabinet
National Security Council
Reports toPresident of the United States
SeatWashington, D.C.
AppointerPresident of the United States
with Senate advice and consent
Term lengthAt the pleasure of the President
Constituting instrument31 U.S.C. § 301
FormationSeptember 11, 1789; 235 years ago (1789-09-11)
First holderAlexander Hamilton
SuccessionFifth[1]
DeputyUnited States Deputy Secretary of the Treasury[2]
SalaryExecutive Schedule, Level I[3]
Websitewww.treasury.gov

From the U.S. Department of the Treasury website Archived 2010-11-19 at the Wayback Machine:

"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

 
Peale portrait of Robert Morris

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. [1] Archived 2009-09-26 at the Wayback Machine

Parties

      No party (1)       Federalist (4)       Democratic-Republican (4)       Democratic (29) <span style="border:1px solid #AAAAAA; background-color:Lua error in package.lua at line 80: module 'Module:Political party/W' not found.; color:Lua error in package.lua at line 80: module 'Module:Political party/W' not found.;">      Whig (5)       Republican (34)

Status      Denotes acting Secretary of the Treasury     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
John Adams
3   Samuel Dexter Massachusetts January 1, 1801 May 13, 1801
Thomas Jefferson
4   Abraham Alfonse Albert Gallatin Pennsylvania May 14, 1801 February 8, 1814
James Madison
5   George W. Campbell Tennessee February 9, 1814 October 5, 1814
6   Alexander J. Dallas Pennsylvania October 6, 1814 October 21, 1816
–   William Jones[1]
Acting 		Pennsylvania October 21, 1816 October 22, 1816
7   William H. Crawford Georgia October 22, 1816 March 6, 1825
James Monroe
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
John Tyler
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
Andrew Johnson
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
Theodore Roosevelt
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
Calvin Coolidge
Herbert Hoover
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
Gerald Ford
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[2]
Acting 		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[3]
Acting 		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[4]
Acting 		Illinois December 31, 2002 February 3, 2003
73   John W. Snow Virginia February 3, 2003 June 30, 2006
–   Robert M. Kimmitt[5]
Acting 		Virginia June 30, 2006 July 10, 2006
74   Henry Paulson Illinois July 10, 2006 January 20, 2009
–   Stuart A. Levey[6]
Acting 		Ohio January 20, 2009 January 26, 2009 Barack Obama
75   Timothy Geithner New York January 26, 2009 January 25, 2013
–   Neal S. Wolin[7]
Acting 		Illinois January 25, 2013 February 28, 2013
76   Jack Lew New York February 28, 2013 January 20, 2017
–   Adam J. Szubin[8]
Acting


Washington, D.C. January 20, 2017 February 13, 2017 Donald Trump
77   Steven Mnuchin California February 13, 2017 January 20, 2021
–   Andy Baukol[8]
Acting
 Virginia January 20, 2021 January 25, 2021 Joe Biden
78   Janet Yellen California January 25, 2021 —
Nominee   Scott Bessent South Carolina TBD Donald Trump

1  William Jones served as acting secretary between the resignation of Alexander J. Dallas and appointment of William H. Crawford.

2  Deputy Secretary of the Treasury M. Peter McPherson served as acting secretary of the treasury from August 17, 1988, to September 15, 1988.

3  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.

4  Deputy Secretary of the Treasury Kenneth W. Dam served as acting secretary of the treasury from December 31, 2002, to February 3, 2003.

5  Deputy Secretary of the Treasury Robert M. Kimmitt served as acting secretary of the treasury from June 30, 2006, to July 9, 2006.

6  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.

7  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.

8  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

United States Secretary Of The Treasury Media

  • Alexander Hamilton, by John Trumbull, 1804.

  • Portrait of Connecticut politician and governor Oliver Wolcott, Jr., by the American artist Gilbert Stuart. Oil on canvas. 27 1/2 in. x 23 1/4 in. Courtesy of the Yale University Art Gallery, Yale University, New Haven, Conn.

  • Albert Gallatin

  • George W. Campbell U.S. Secretary of the Treasury

  • Engraved BEP portrait of U.S. Secretary of the Treasury Richard Rush

References

  1. ↑ "3 U.S. Code § 19 - Vacancy in offices of both President and Vice President; officers eligible to act". LII / Legal Information Institute.
  2. ↑ 31 U.S.C. § 301
  3. ↑ 5 U.S.C. § 5312
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