sign in sign up
<<
Home , Albert Gallatin

U.S. Department of the Interior fir Friendship Hill National Historic Site

Secretary of the Treasury

The Secretary of the Treasury is a member of the Cabinet. The President appoints the individuals who serve in cabinet positions. The job of the Secretary of the Treasury is to advise the President on matters concerning the economy. The treasury secretary also helps plan the nation's budget and determines the amount of money apportioned to federal agencies. Albert Gallatin served as Secretary of the Treasury from 1801 until 1814. This thirteen year tenure is the longest that anyone has ever held that position. "Watchdog of Uie Treasury" Old Treasury Seal - Origin Unknown

Albert Gallatin's Albert Gallatin proved his All money spent by the government qualifications from the beginning of must be approved by Congress. All Qualifications his participation in the federal bills that propose spending money government. In 1794, start in the House. The Ways and selected Mr. Gallatin to represent the Means Committee is influential state in the . because it first hears a fiscal bill. One of his first acts as senator was to The House usually accepts this demand a statement of the federal committee's recommendation and government's current financial either passes or rejects a bill. situation. When was elected Gallatin was removed from the Senate President in 1800, he believed that on a technicality but was elected to Albert Gallatin was the only member the House of Representatives in 1795. of his party capable of serving as his As a member of the House, he Secretary of the Treasury. Gallatin's further proved his ability by creating ".. .persistent assaults on the financial '/fa/^~/ZMz^ and chairing the influential Ways and policy of the Federalists..." led Means Committee. This committee Jefferson to this conclusion. These determines what and how the opinions influenced Jefferson's choice government may spend federal of Albert Gallatin as Secretary of the money. Treasury.

The Jefferson administration had two During the first year of Gallatin's The National Debt main objectives in 1801: the term of office he succeeded in reduction of the national debt and the reducing the national debt by over reduction of direct taxes. Gallatin two million dollars. In 1803 the felt that "...the reduction of the public government increased its debt fifteen debt was certainly the principle in million dollars when the United States bringing me [Gallatin] into office...". purchased the Territory It was with this thought in mind that from . Still, this major he began his first year in office. expense did not alter Gallatin's plan for the nation's economy. He According to Mr. Gallatin, on continued to enforce his plan and by January 1, 1801, the United States January 1, 1812, Gallatin had was more than eighty million dollars succeeded in reducing the national in debt. Gallatin had a plan to reduce debt to just over forty-five million the debt. It called for the practice of dollars. economy within the government, par­ The debt during Gallatin's first years of office. ticularly in the military. The two Albert Gallatin left office in 1814. main sources of revenue for the Those who came after him continued reduction of the national debt were: to enforce the measures to reduce the capital gained through the sale of debt that he had started. In January, public lands and that revenue brought 1833 the federal government in through custom duties (import considered the national debt totally taxes). extinguished. The Louisiana In 1803 the United States bought the Albert Gallatin not only arranged for Louisiana Territory from France. the purchase of the This territory added over eight Territory, but he also arranged hundred thousand square miles to the financing for the exploration of the United States. The area purchased new lands. Gallatin consider-ed the covered much of what is now the sale of public lands the best way to western part of the country. The cost rid the nation of its debt. The of the territory was approximately Louisiana Territory provided the fifteen million dollars, about three country with the land to sell. Gallatin cents an acre. Albert Gallatin was funded expeditions through the able to manage the budget so the Louisiana Territory so the territory United States could pay France the could be described. He hoped this fifteen million dollars and still would increase the value of the maintain the budget. western lands. Among the explorers were Meriwether Lewis, William Gallatin felt that the acquisition of Clark, Thomas Freeman, and Peter this land was good for the country, Custis. Freeman and Custis explored especially the area around Friendship the area around the Red River in Hill. It provided the United States Louisiana. Lewis and Clark explored and with an the Basin. During ocean port, . Now, the their travels they found the residents of western Pennsylvania headwaters of the Missouri River. could easily ship their goods down Lewis and Clark found that the Louisiana Purchase Treaty river on keelboats to New Orleans. Missouri River began at the 1803 The port there also provided more confluence of three rivers. Lewis and customs duties, or import taxes, thus Clark named these rivers after three providing capital for the federal prominent individuals of their time: government. Jefferson, Madison, and Gallatin.

As early as 1802, Albert Gallatin It may be no coincidence that the The believed the United States needed to course of the National Road is not far improve its transportation routes. In from Gallatin's home in southwestern 1808 he delivered a report to Pennsylvania. The road proceeds Congress which listed specific through downtown Uniontown, . Among the approximately sixteen miles north of improvements Gallatin named were: Friendship Hill. The new National "Mr. Gallatin was roads and canals connecting the north Road would provide Gallatin with a the very first man and the south, roads allowing access better route between his home and the who ever suggested from the northern United States to the nation's capitol. Not only would the plan for making , and roads connecting construction of the National Road the Cumberland Road the eastern and western areas of the serve Gallatin's purpose, but it would (the National Road)." country. help his western Pennsylvania neighbors. The road provided them Andrew Stewart with a route to take their trade goods January 27, 1829 The east to west route suggested by Gallatin was the road that would to eastern markets. become known as the National Road. Construction of the National Road The road, once known as the National began in 1811. The cost of the road Pike, still exists today. US Route 40 averaged about thirteen thousand is the modern name given to the dollars per mile. Gallatin suggested National Road. The original National that the federal government construct Road ended near Vandalia, Illinois. the road. He also arranged the Today US Route 40 can be followed finances of the nation to allow the across the nation from sea to shining federal government to pay for the sea. road without falling deeper into debt. The National Road was opened from Cumberland, Maryland to Wheeling, West , as a transportation route in 1818.

Friendship Hill National Historic Site R.D. #1 Box 149-A Point Marion, PA 15474