Contributed by Brick Store Museum
Description
Hugh McCulloch was born in 1808 in Kennebunk. He attended Bowdoin College, taught in Boston, studied law, and was admitted to the Massachusetts state bar in 1833. He then moved to Indiana and established a law practice.
In 1862 McCulloch went to Washington, D.C., as a lobbyist for state banks against the proposed legislation creating a national banking system. Despite his efforts the law was passed in 1863. It was intended to help finance the Civil War and provide a uniform, stable national currency.
Secretary of the Treasury Salmon P. Chase, impressed by McCulloch's abilities, asked him to help put the new system into effect as comptroller of the currency. Deciding that the new system was better than the old, McCulloch accepted the job. He persuaded existing state banks to apply for Federal charters, and more than any other single person he was responsible for the successful inauguration of the national banking network.
In March 1865 President Abraham Lincoln appointed McCulloch secretary of the Treasury. During his tenure, McCulloch maintained a policy of reducing the federal war debt and the careful reintroduction of federal taxation in the South.
About This Item
- Title: Hugh McCulloch house, Kennebunk, ca. 1900
- Creator: Charles Kelley
- Creation Date: circa 1900
- Subject Date: circa 1900
- Location: Kennebunk, York County, ME
- Media: Glass Negative
- Dimensions: 10 cm x 12 cm
- Local Code: 3600.6
- Collection: Mabel Kelley Collection
- Object Type: Image
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For more information about this item, contact:
Brick Store Museum117 Main Street, Kennebunk, ME 04043
(207) 985-4802
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