United States Secretary of the Treasury

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Secretary of the Treasury of the United States of America
US-DeptOfTheTreasury-Seal.svg
Seal of the Department of the Treasury
Flag of the United States Secretary of the Treasury.png
Flag of the Secretary of the Treasury
Jacob Lew official portrait.jpg
Incumbent
Jacob Lew

since February 28, 2013
United States Department of the Treasury
FormationSeptember 11, 1789
First holderAlexander Hamilton
SuccessionFifth
DeputyDeputy Secretary of the Treasury[1]
SalaryExecutive Schedule, Level 1[2]
Websitewww.Treasury.gov
 
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Not to be confused with Treasurer of the United States.
Secretary of the Treasury of the United States of America
US-DeptOfTheTreasury-Seal.svg
Seal of the Department of the Treasury
Flag of the United States Secretary of the Treasury.png
Flag of the Secretary of the Treasury
Jacob Lew official portrait.jpg
Incumbent
Jacob Lew

since February 28, 2013
United States Department of the Treasury
FormationSeptember 11, 1789
First holderAlexander Hamilton
SuccessionFifth
DeputyDeputy Secretary of the Treasury[1]
SalaryExecutive Schedule, Level 1[2]
Websitewww.Treasury.gov

The Secretary of the Treasury is the head of the United States Department of the Treasury,[3] which is concerned with financial and monetary matters, and, until 2003, also included several federal law enforcement agencies. This position in the Federal Government of the United States is analogous to the Minister of Finance in many other countries.

The Secretary of the Treasury is a member of the President's Cabinet, and since the Clinton Administration, has been a non-statutory member of the U.S. National Security Council. The Secretary of the Treasury, the Secretary of State, the Attorney General, and the Secretary of Defense are generally regarded as the four most important cabinet officials because of the importance of their departments.[4] The Secretary of the Treasury is fifth in the United States presidential line of succession.

The current and 76th Secretary of the Treasury is Jacob Lew, a former White House Chief of Staff who was confirmed by the United States Senate on February 27, 2013.

Powers and functions[edit]

The Secretary along with the Treasurer must sign Federal Reserve notes before they can become legal tender.[citation needed] The Secretary also manages the United States Emergency Economic Stabilization fund.

Most of the Department's law enforcement agencies such as the U.S. Customs Service, the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), and the U.S. Secret Service were reassigned to other Departments in 2003 in conjunction with the creation of the Department of Homeland Security

The Secretary of the Treasury earns $191,300 per year.

List[edit]

Parties

      No party       Federalist       Democratic-Republican       Democratic       Whig       Republican

Status
  Denotes acting Secretary of the Treasury
No.PortraitNameState of ResidenceTook OfficeLeft OfficePresident(s)
1
HAMILTON, Alexander-Treasury (BEP engraved portrait).jpg
Alexander HamiltonNew YorkSeptember 11, 1789January 31, 1795George Washington
2
WOLCOTT, Oliver-Treasury (BEP engraved portrait).jpg
Oliver Wolcott, Jr.ConnecticutFebruary 3, 1795December 31, 1800
John Adams
3
DEXTER, Samuel-Treasury (BEP engraved portrait).jpg
Samuel DexterMassachusettsJanuary 1, 1801May 13, 1801
Thomas Jefferson
4
GALLATIN, Albert-Treasury (BEP engraved portrait).jpg
Albert GallatinPennsylvaniaMay 14, 1801February 8, 1814
James Madison
5
CAMPBELL, George W-Treasury (BEP engraved portrait).jpg
George W. CampbellTennesseeFebruary 9, 1814October 5, 1814
6
DALLAS, Alexander J-Treasury (BEP engraved portrait).jpg
Alexander J. DallasPennsylvaniaOctober 6, 1814October 21, 1816
-William-Jones.jpgWilliam Jones[1]
(acting)
PennsylvaniaOctober 21, 1816October 22, 1816
7
CRAWFORD, William H-Treasury (BEP engraved portrait).jpg
William H. CrawfordGeorgiaOctober 22, 1816March 6, 1825
James Monroe
8
RUSH, Richard-BEP069-Treasury (BEP engraved portrait).jpg
Richard RushPennsylvaniaMarch 7, 1825March 5, 1829John Quincy Adams
9
INGHAM, Samuel D-Treasury (BEP engraved portrait).jpg
Samuel D. InghamPennsylvaniaMarch 6, 1829June 20, 1831Andrew Jackson
10
McLANE, Louis-Treasury (BEP engraved portrait).jpg
Louis McLaneDelawareAugust 8, 1831May 28, 1833
11
DUANE, William J-Treasury (BEP engraved portrait).jpg
William J. DuanePennsylvaniaMay 29, 1833September 22, 1833
12
TANEY, Roger B-Treasury (BEP engraved portrait).jpg
Roger B. TaneyMarylandSeptember 23, 1833June 25, 1834
13
WOODBURY, Levi-Treasury (BEP engraved portrait).jpg
Levi WoodburyNew HampshireJuly 1, 1834March 3, 1841
Martin Van Buren
14
EWING, Thomas-Treasury (BEP engraved portrait).jpg
Thomas EwingOhioMarch 4, 1841September 11, 1841William Henry Harrison
John Tyler
15
FORWARD, Walter-Treasury (BEP engraved portrait).jpg
Walter ForwardPennsylvaniaSeptember 13, 1841March 1, 1843
16
SPENCER, John C-Treasury (BEP engraved portrait).jpg
John C. SpencerNew YorkMarch 8, 1843May 2, 1844
17
BIBB, George M-Treasury (BEP engraved portrait).jpg
George M. BibbKentuckyJuly 4, 1844March 7, 1845
18
WALKER, Robert J-Treasury (BEP engraved portrait).jpg
Robert J. WalkerMississippiMarch 8, 1845March 5, 1849James K. Polk
19
MEREDITH, William M-Treasury (BEP engraved portrait).jpg
William M. MeredithPennsylvaniaMarch 8, 1849July 22, 1850Zachary Taylor
20
CORWIN, Thomas-Treasury (BEP engraved portrait).jpg
Thomas CorwinOhioJuly 23, 1850March 6, 1853Millard Fillmore
21
GUTHRIE, James-Treasury (BEP engraved portrait).jpg
James GuthrieKentuckyMarch 7, 1853March 6, 1857Franklin Pierce
22
COBB, Howell-Treasury (BEP engraved portrait).jpg
Howell CobbGeorgiaMarch 7, 1857December 8, 1860James Buchanan
23
THOMAS, Philip F-Treasury (BEP engraved portrait).jpg
Philip F. ThomasMarylandDecember 12, 1860January 14, 1861
24
DIX, John A-Treasury (BEP engraved portrait).jpg
John A. DixNew YorkJanuary 15, 1861March 6, 1861
25
CHASE, Samuel P-Treasury (BEP engraved portrait).jpg
Salmon P. ChaseOhioMarch 7, 1861June 30, 1864Abraham Lincoln
26
FESSENDEN, William P-Treasury (BEP engraved portrait).jpg
William P. FessendenMaineJuly 5, 1864March 3, 1865
27
McCULLOCH, Hugh-Treasury (BEP engraved portrait).jpg
Hugh McCullochIndianaMarch 9, 1865March 3, 1869
Andrew Johnson
28
BOUTWELL, George S-Treasury (BEP engraved portrait).jpg
George S. BoutwellMassachusettsMarch 12, 1869March 16, 1873Ulysses S. Grant
29
RICHARDSON, William A-Treasury (BEP engraved portrait).jpg
William A. RichardsonMassachusettsMarch 17, 1873June 3, 1874
30
BRISTOW, Benjamin H-Treasury (BEP engraved portrait).jpg
Benjamin H. BristowKentuckyJune 4, 1874June 20, 1876
31
MORRILL, Lot M-Treasury (BEP engraved portrait).jpg
Lot M. MorrillMaineJuly 7, 1876March 9, 1877
32
SHERMAN, John-Treasury (BEP engraved portrait).jpg
John ShermanOhioMarch 10, 1877March 3, 1881Rutherford B. Hayes
33
WINDOM, William-Treasury (BEP engraved portrait).jpg
William WindomMinnesotaMarch 8, 1881November 13, 1881James A. Garfield
Chester A. Arthur
34
FOLGER, Charles J-Treasury (BEP engraved portrait).jpg
Charles J. FolgerNew YorkNovember 14, 1881September 4, 1884
35
GRESHAM, Walter Q-Treasury (BEP engraved portrait).jpg
Walter Q. GreshamIndianaSeptember 5, 1884October 30, 1884
36
McCULLOCH, Hugh-Treasury (BEP engraved portrait).jpg
Hugh McCullochIndianaOctober 31, 1884March 7, 1885
37
MANNING, Daniel-Treasury (BEP engraved portrait).jpg
Daniel ManningNew YorkMarch 8, 1885March 31, 1887Grover Cleveland
38
FAIRCHILD, Charles S-Treasury (BEP engraved portrait).jpg
Charles S. FairchildNew YorkApril 1, 1887March 6, 1889
39
WINDOM, William-Treasury (BEP engraved portrait).jpg
William WindomMinnesotaMarch 7, 1889January 29, 1891Benjamin Harrison
40
FOSTER, Charles-Treasury (BEP engraved portrait).jpg
Charles W. FosterOhioFebruary 25, 1891March 6, 1893
41
CARLISLE, John Griffin-Treasury (BEP engraved portrait).jpg
John G. CarlisleKentuckyMarch 7, 1893March 5, 1897Grover Cleveland
42
GAGE, Lyman J-Treasury (BEP engraved portrait).jpg
Lyman J. GageIllinoisMarch 6, 1897January 31, 1902William McKinley
Theodore Roosevelt
43Leslie Shaw, Bain photo portrait.jpgLeslie M. ShawIowaFebruary 1, 1902March 3, 1907
44Cortelyou-george-bruce.jpgGeorge B. CortelyouNew YorkMarch 4, 1907March 7, 1909
45Franklin MacVeagh, formal bw photo portrait, 1909.jpgFranklin MacVeaghIllinoisMarch 8, 1909March 5, 1913William Howard Taft
46William Gibbs McAdoo, formal photo portrait, 1914.jpgWilliam G. McAdooCaliforniaMarch 6, 1913December 15, 1918Woodrow Wilson
47CGlass.jpgCarter GlassVirginiaDecember 16, 1918February 1, 1920
48Picture of David F. Houston.jpgDavid F. HoustonMissouriFebruary 2, 1920March 3, 1921
49AWMellon.jpgAndrew W. MellonPennsylvaniaMarch 4, 1921February 12, 1932Warren G. Harding
Calvin Coolidge
Herbert Hoover
50Ogden Livingston Mills.jpgOgden L. MillsNew YorkFebruary 13, 1932March 4, 1933
51Woodin2.jpgWilliam H. WoodinNew YorkMarch 5, 1933December 31, 1933Franklin D. Roosevelt
52Henry Morgenthau, Jr..jpgHenry Morgenthau, Jr.New YorkJanuary 1, 1934July 22, 1945
Harry S. Truman
53Frederick Vinson portrait.pngFred M. VinsonKentuckyJuly 23, 1945June 23, 1946
54Portrait of John W. Snyder.jpgJohn W. SnyderMissouriJune 25, 1946January 20, 1953
55George M Humphrey.jpgGeorge M. HumphreyOhioJanuary 21, 1953July 29, 1957Dwight D. Eisenhower
56Robert B Anderson.jpegRobert B. AndersonConnecticutJuly 29, 1957January 20, 1961
57C Douglas Dillon.jpgC. Douglas DillonNew JerseyJanuary 21, 1961April 1, 1965John F. Kennedy
Lyndon B. Johnson
58HFowler2.jpgHenry H. FowlerVirginiaApril 1, 1965December 20, 1968
59Joseph W Barr.jpgJoseph W. BarrIndianaDecember 21, 1968January 20, 1969
60David M Kennedy.jpgDavid M. KennedyUtahJanuary 22, 1969February 10, 1971Richard Nixon
61Portrait of John Connally.jpgJohn B. Connally, Jr.TexasFebruary 11, 1971June 12, 1972
62GPShultz.jpegGeorge P. ShultzIllinoisJune 12, 1972May 8, 1974
63William E Simon.jpgWilliam E. SimonNew JerseyMay 8, 1974January 20, 1977
Gerald Ford
64Portrait of W. Michael Blumenthal.jpgW. Michael BlumenthalMichiganJanuary 23, 1977August 4, 1979Jimmy Carter
65Portrait of G. William Miller.jpgG. William MillerRhode IslandAugust 7, 1979January 20, 1981
66Donald Thomas Regan.jpgDonald T. ReganNew JerseyJanuary 22, 1981February 1, 1985Ronald Reagan
67JamesBaker.jpegJames A. BakerTexasFebruary 4, 1985August 17, 1988
-M. Peter McPherson[2]
(acting)
MichiganAugust 17, 1988September 15, 1988
68Nicholas Frederick Brady.jpgNicholas F. BradyNew JerseySeptember 15, 1988January 17, 1993
George H. W. Bush
69LloydBentsen.jpgLloyd M. Bentsen, Jr.TexasJanuary 20, 1993December 22, 1994Bill Clinton
-Frank N. Newman[3]
(acting)
MassachusettsDecember 22, 1994January 11, 1995
70Pr4262ls-treasury-rubin.jpgRobert E. RubinNew YorkJanuary 11, 1995July 2, 1999
71Lawrence Summers 2012.jpgLawrence H. SummersMassachusettsJuly 2, 1999January 20, 2001
72OneilllPaul.jpgPaul H. O'NeillPennsylvaniaJanuary 20, 2001December 31, 2002George W. Bush
-Kenneth Dam.jpgKenneth W. Dam[4]
(acting)
IllinoisDecember 31, 2002February 3, 2003
73John W. Snow.jpgJohn W. SnowVirginiaFebruary 3, 2003June 30, 2006
-Robert Kimmitt, official Treasury photo.jpgRobert M. Kimmitt[5]
(acting)
VirginiaJune 30, 2006July 10, 2006
74Henry Paulson official Treasury photo, 2006.jpgHenry M. PaulsonIllinoisJuly 10, 2006January 20, 2009
-Stuart Levey.jpgStuart A. Levey[6]
(acting)
OhioJanuary 20, 2009January 26, 2009Barack Obama
75Timothy Geithner official portrait.jpgTimothy F. GeithnerNew YorkJanuary 26, 2009January 25, 2013
-Neal S. Wolin official portrait.jpgNeal Wolin[7]
(acting)
IllinoisJanuary 25, 2013February 28, 2013
76Jacob Lew official portrait.jpgJack LewNew YorkFebruary 28, 2013Incumbent

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.

The former flag of the U.S. Secretary of the Treasury, originating from the 19th century.

If both the Secretary and the Deputy Secretary of the Treasury are unable to carry out the duties of the office of Secretary of the Treasury, then whichever Treasury official of Under Secretary rank sworn in earliest assumes the role of Acting Secretary. Positions listed on the Department of the Treasury website include the Under Secretary for Domestic Finance, the Under Secretary for International Affairs, and the Under Secretary for Terrorism and Financial Intelligence.

Living former Secretaries of the Treasury[edit]

As of October 2014, there are ten living former Secretaries of the Treasury, the oldest being George P. Shultz (1972-1974, born 1920). The most recent Secretary of the Treasury to pass away was Lloyd M. Bentsen, Jr. (1993–1994), on May 23, 2006.

NameTerm of officeDate of birth
George P. Shultz1972–1974(1920-12-13) December 13, 1920 (age 94)
W. Michael Blumenthal1977–1979(1926-01-03) January 3, 1926 (age 89)
James A. Baker1985–1988(1930-04-28) April 28, 1930 (age 84)
Nicholas F. Brady1988–1993(1930-04-11) April 11, 1930 (age 84)
Robert Rubin1995–1999(1938-08-29) August 29, 1938 (age 76)
Lawrence H. Summers1999-2001(1954-11-30) November 30, 1954 (age 60)
Paul O'Neill2001–2002(1935-12-04) December 4, 1935 (age 79)
John W. Snow2003–2006(1939-08-02) August 2, 1939 (age 75)
Henry Paulson2006–2009(1946-03-28) March 28, 1946 (age 68)
Timothy F. Geithner2009–2013(1961-08-18) August 18, 1961 (age 53)

See also[edit]

Notes[edit]

  1. ^ 31 U.S.C. § 301
  2. ^ 5 U.S.C. § 5312
  3. ^ 31 U.S.C. § 301
  4. ^ Cabinets and Counselors: The President and the Executive Branch (1997). Congressional Quarterly. p. 87.
  5. ^ "Duties & Functions: Secretaries of the Treasury". United States Department of the Treasury. Archived from the original on November 19, 2010. Retrieved November 30, 2012. 

References[edit]

External links[edit]

United States presidential line of succession
Preceded by
Secretary of State
John Kerry
5th in lineSucceeded by
Secretary of Defense
Chuck Hagel