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Secretary of the Treasury of the
United States
""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
""Steven Mnuchin official portrait.jpg
Incumbent
"Steven Mnuchin

since February 13, 2017
"United States Department of the Treasury
"Style Mr. Secretary
Member of The "Cabinet
Reports to The "President
"Seat "Washington, D.C.
Appointer The "President
with "Senate "advice and consent
"Term length No fixed term
Constituting instrument "31 U.S.C. § 301
Inaugural holder "Alexander Hamilton
Formation September 11, 1789; 228 years ago (1789-09-11)
Succession "Fifth[1]
Deputy "Deputy Secretary of the Treasury[2]
Salary "Executive Schedule, Level 1[3]
Website www.treasury.gov

The Secretary of the Treasury is the head of the "U.S. Department of the Treasury[4] 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 is nominated by the "President of the United States. Nominees for Secretary of the Treasury undergo a confirmation hearing before the "United States Senate Committee on Finance before being voted on by the "United States Senate.

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.[5] The Secretary of the Treasury is a non-statutory member of the "U.S. National Security Council and fifth in the "United States presidential line of succession.

Contents

Powers and functions[edit]

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.

— U.S. Department of the Treasury Web site[6]

The Secretary along with the "Treasurer of the United States must sign "Federal Reserve notes before they can become legal tender.["further explanation 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 salary of the Secretary of the Treasury is $205,700 annually.

List of Secretaries of the Treasury[edit]

Parties

  "No party (1)   "Federalist (4)   "Democratic-Republican (4)   "Democratic (29)   "Whig (5)   "Republican (34)

Status
  Denotes "acting Secretary of the Treasury
No. Portrait Name State of Residence Took Office Left Office "President(s)
1
""Alexander Hamilton portrait by John Trumbull 1806.jpg
"Alexander Hamilton "New York September 11, 1789 January 31, 1795 "George Washington
2
""Oliver Wolcott Jr by Gilbert Stuart circa 1820.jpeg
"Oliver Wolcott, Jr. "Connecticut February 3, 1795 December 31, 1800
"John Adams
3
""Samuel Dexter.jpg
"Samuel Dexter "Massachusetts January 1, 1801 May 13, 1801
"Thomas Jefferson
4
""AlbertGallatin.jpeg
"Albert Gallatin "Pennsylvania May 14, 1801 February 8, 1814
"James Madison
5
""CAMPBELL, George W-Treasury (BEP engraved portrait).jpg
"George W. Campbell "Tennessee February 9, 1814 October 5, 1814
6
""Alexander J. Dallas.jpg
"Alexander J. Dallas "Pennsylvania October 6, 1814 October 21, 1816
""William-Jones.jpg "William Jones[1]
Acting
"Pennsylvania October 21, 1816 October 22, 1816
7
""WilliamHCrawford.png
"William H. Crawford "Georgia October 22, 1816 March 6, 1825
"James Monroe
8
""Richard Rush engraving.png
"Richard Rush "Pennsylvania March 7, 1825 March 5, 1829 "John Quincy Adams
9
""SIng.jpg
"Samuel D. Ingham "Pennsylvania March 6, 1829 June 20, 1831 "Andrew Jackson
10
""LMcLane.jpg
"Louis McLane "Delaware August 8, 1831 May 28, 1833
11
""DUANE, William J-Treasury (BEP engraved portrait).jpg
"William J. Duane "Pennsylvania May 29, 1833 September 22, 1833
12
""Roger B. Taney - Brady-Handy.jpg
"Roger B. Taney "Maryland September 23, 1833 June 25, 1834
13
""WOODBURY, Levi-Treasury (BEP engraved portrait).jpg
"Levi Woodbury "New Hampshire July 1, 1834 March 3, 1841
"Martin Van Buren
14
""EWING, Thomas-Treasury (BEP engraved portrait).jpg
"Thomas Ewing "Ohio March 4, 1841 September 11, 1841 "William Henry Harrison
"John Tyler
15
""FORWARD, Walter-Treasury (BEP engraved portrait).jpg
"Walter Forward "Pennsylvania September 13, 1841 March 1, 1843
16
""SPENCER, John C-Treasury (BEP engraved portrait).jpg
"John C. Spencer "New York March 8, 1843 May 2, 1844
17
""BIBB, George M-Treasury (BEP engraved portrait).jpg
"George M. Bibb "Kentucky July 4, 1844 March 7, 1845
18
""WALKER, Robert J-Treasury (BEP engraved portrait).jpg
"Robert J. Walker "Mississippi March 8, 1845 March 5, 1849 "James K. Polk
19
""MEREDITH, William M-Treasury (BEP engraved portrait).jpg
"William M. Meredith "Pennsylvania March 8, 1849 July 22, 1850 "Zachary Taylor
20
""CORWIN, Thomas-Treasury (BEP engraved portrait).jpg
"Thomas Corwin "Ohio July 23, 1850 March 6, 1853 "Millard Fillmore
21
""GUTHRIE, James-Treasury (BEP engraved portrait).jpg
"James Guthrie "Kentucky March 7, 1853 March 6, 1857 "Franklin Pierce
22
""COBB, Howell-Treasury (BEP engraved portrait).jpg
"Howell Cobb "Georgia March 7, 1857 December 8, 1860 "James Buchanan
23
""THOMAS, Philip F-Treasury (BEP engraved portrait).jpg
"Philip F. Thomas "Maryland December 12, 1860 January 14, 1861
24
""DIX, John A-Treasury (BEP engraved portrait).jpg
"John A. Dix "New York January 15, 1861 March 6, 1861
25
""CHASE, Samuel P-Treasury (BEP engraved portrait).jpg
"Salmon P. Chase "Ohio March 7, 1861 June 30, 1864 "Abraham Lincoln
26
""FESSENDEN, William P-Treasury (BEP engraved portrait).jpg
"William P. Fessenden "Maine July 5, 1864 March 3, 1865
27
""McCULLOCH, Hugh-Treasury (BEP engraved portrait).jpg
"Hugh McCulloch "Indiana March 9, 1865 March 3, 1869
"Andrew Johnson
28
""BOUTWELL, George S-Treasury (BEP engraved portrait).jpg
"George S. Boutwell "Massachusetts March 12, 1869 March 16, 1873 "Ulysses S. Grant
29
""RICHARDSON, William A-Treasury (BEP engraved portrait).jpg
"William A. Richardson "Massachusetts March 17, 1873 June 3, 1874
30
""BRISTOW, Benjamin H-Treasury (BEP engraved portrait).jpg
"Benjamin H. Bristow "Kentucky June 4, 1874 June 20, 1876
31
""MORRILL, Lot M-Treasury (BEP engraved portrait).jpg
"Lot M. Morrill "Maine July 7, 1876 March 9, 1877
32
""SHERMAN, John-Treasury (BEP engraved portrait).jpg
"John Sherman "Ohio March 10, 1877 March 3, 1881 "Rutherford B. Hayes
33
""WINDOM, William-Treasury (BEP engraved portrait).jpg
"William Windom "Minnesota March 8, 1881 November 13, 1881 "James A. Garfield
"Chester A. Arthur
34
""FOLGER, Charles J-Treasury (BEP engraved portrait).jpg
"Charles J. Folger "New York November 14, 1881 September 4, 1884
35
""GRESHAM, Walter Q-Treasury (BEP engraved portrait).jpg
"Walter Q. Gresham "Indiana September 5, 1884 October 30, 1884
36
""McCULLOCH, Hugh-Treasury (BEP engraved portrait).jpg
"Hugh McCulloch "Indiana October 31, 1884 March 7, 1885
37
""MANNING, Daniel-Treasury (BEP engraved portrait).jpg
"Daniel Manning "New York March 8, 1885 March 31, 1887 "Grover Cleveland
38
""FAIRCHILD, Charles S-Treasury (BEP engraved portrait).jpg
"Charles S. Fairchild "New York April 1, 1887 March 6, 1889
39
""WINDOM, William-Treasury (BEP engraved portrait).jpg
"William Windom "Minnesota March 7, 1889 January 29, 1891 "Benjamin Harrison
40
""FOSTER, Charles-Treasury (BEP engraved portrait).jpg
"Charles W. Foster "Ohio February 25, 1891 March 6, 1893
41
""CARLISLE, John Griffin-Treasury (BEP engraved portrait).jpg
"John G. Carlisle "Kentucky March 7, 1893 March 5, 1897 "Grover Cleveland
42
""GAGE, Lyman J-Treasury (BEP engraved portrait).jpg
"Lyman J. Gage "Illinois March 6, 1897 January 31, 1902 "William McKinley
"Theodore Roosevelt
43 ""Leslie Shaw, Bain photo portrait.jpg "Leslie M. Shaw "Iowa February 1, 1902 March 3, 1907
44 ""Cortelyou-george-bruce.jpg "George B. Cortelyou "New York March 4, 1907 March 7, 1909
45 ""Franklin MacVeagh, formal bw photo portrait, 1909.jpg "Franklin MacVeagh "Illinois March 8, 1909 March 5, 1913 "William Howard Taft
46 ""William Gibbs McAdoo, formal photo portrait, 1914.jpg "William G. McAdoo "California March 6, 1913 December 15, 1918 "Woodrow Wilson
47 ""CGlass.jpg "Carter Glass "Virginia December 16, 1918 February 1, 1920
48 ""Picture of David F. Houston.jpg "David F. Houston "Missouri February 2, 1920 March 3, 1921
49 ""AWMellon.jpg "Andrew W. Mellon "Pennsylvania March 4, 1921 February 12, 1932 "Warren G. Harding
"Calvin Coolidge
"Herbert Hoover
50 ""Ogden Livingston Mills.jpg "Ogden L. Mills "New York February 13, 1932 March 4, 1933
51 ""Woodin2.jpg "William H. Woodin "New York March 5, 1933 December 31, 1933 "Franklin D. Roosevelt
52 ""Henry Morgenthau, Jr..jpg "Henry Morgenthau, Jr. "New York January 1, 1934 July 22, 1945
"Harry S. Truman
53 ""Frederick Vinson portrait.png "Fred M. Vinson "Kentucky July 23, 1945 June 23, 1946
54 ""Portrait of John W. Snyder.jpg "John W. Snyder "Missouri June 25, 1946 January 20, 1953
55 ""George M Humphrey.jpg "George M. Humphrey "Ohio January 21, 1953 July 29, 1957 "Dwight D. Eisenhower
56 ""Robert B Anderson.jpeg "Robert B. Anderson "Connecticut July 29, 1957 January 20, 1961
57 ""C Douglas Dillon.jpg "C. Douglas Dillon "New Jersey January 21, 1961 April 1, 1965 "John F. Kennedy
"Lyndon B. Johnson
58 ""HFowler2.jpg "Henry H. Fowler "Virginia April 1, 1965 December 20, 1968
59 ""Joseph W Barr.jpg "Joseph W. Barr "Indiana December 21, 1968 January 20, 1969
60 ""David M Kennedy.jpg "David M. Kennedy "Utah January 22, 1969 February 10, 1971 "Richard Nixon
61 ""Portrait of John Connally.jpg "John B. Connally, Jr. "Texas February 11, 1971 June 12, 1972
62 ""George Pratt Shultz.jpg "George P. Shultz "Illinois June 12, 1972 May 8, 1974
63 ""William E Simon.jpg "William E. Simon "New Jersey May 8, 1974 January 20, 1977
"Gerald Ford
64 ""Portrait of W. Michael Blumenthal.jpg "W. Michael Blumenthal "Michigan January 23, 1977 August 4, 1979 "Jimmy Carter
65 ""Portrait of G. William Miller.jpg "G. William Miller "Rhode Island August 7, 1979 January 20, 1981
66 ""Donald Thomas Regan.jpg "Donald T. Regan "New Jersey January 22, 1981 February 1, 1985 "Ronald Reagan
67 ""JamesBaker.jpeg "James A. Baker III "Texas February 4, 1985 August 17, 1988
""M Peter McPherson at lectern in 1981.jpg "M. Peter McPherson[2]
Acting
"Michigan August 17, 1988 September 15, 1988
68 ""Nicholas Frederick Brady.jpg "Nicholas F. Brady "New Jersey September 15, 1988 January 17, 1993
"George H. W. Bush
69 ""LloydBentsen.jpg "Lloyd Bentsen "Texas January 20, 1993 December 22, 1994 "Bill Clinton
"Frank N. Newman[3]
Acting
"Massachusetts December 22, 1994 January 11, 1995
70 ""Pr4262ls-treasury-rubin.jpg "Robert E. Rubin "New York January 11, 1995 July 2, 1999
71 ""Lawrence Summers Treasury portrait.jpg "Lawrence H. Summers "Massachusetts July 2, 1999 January 20, 2001
72 ""OneilllPaul.jpg "Paul H. O'Neill "Pennsylvania January 20, 2001 December 31, 2002 "George W. Bush
""Kenneth Dam.jpg "Kenneth W. Dam[4]
Acting
"Illinois December 31, 2002 February 3, 2003
73 ""John W. Snow.jpg "John W. Snow "Virginia February 3, 2003 June 30, 2006
""Robert Kimmitt, official Treasury photo.jpg "Robert M. Kimmitt[5]
Acting
"Virginia June 30, 2006 July 10, 2006
74 ""Henry Paulson official Treasury photo, 2006.jpg "Henry M. Paulson, Jr. "Illinois July 10, 2006 January 20, 2009
""Stuart Levey.jpg "Stuart A. Levey[6]
Acting
"Ohio January 20, 2009 January 26, 2009 "Barack Obama
75 ""Timothy Geithner official portrait.jpg "Timothy F. Geithner "New York January 26, 2009 January 25, 2013
""Neal S. Wolin official portrait.jpg "Neal S. Wolin[7]
Acting
"Illinois January 25, 2013 February 28, 2013
76 ""Jacob Lew official portrait.jpg "Jack Lew "New York February 28, 2013 January 20, 2017
""Adam Szubin.jpg "Adam Szubin[8]
Acting
"Washington, D.C. January 20, 2017 February 13, 2017 "Donald Trump
77 ""Steven Mnuchin official portrait.jpg "Steven Mnuchin "California February 13, 2017 Incumbent

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.

""
""
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 November 2017, there are eleven living former Secretaries of the Treasury, the oldest being "George P. Shultz (served 1972-1974, born 1920). The most recent Secretary of the Treasury to die was "Lloyd M. Bentsen, Jr. (served 1993–1994, born 1921), on May 23, 2006.

Name Term of office Date of birth (and age)
"George P. Shultz 1972–1974 (1920-12-13) December 13, 1920 (age 96)
"W. Michael Blumenthal 1977–1979 (1926-01-03) January 3, 1926 (age 91)
"James A. Baker 1985–1988 (1930-04-28) April 28, 1930 (age 87)
"Nicholas F. Brady 1988–1993 (1930-04-11) April 11, 1930 (age 87)
"Robert Rubin 1995–1999 (1938-08-29) August 29, 1938 (age 79)
"Lawrence H. Summers 1999–2001 (1954-11-30) November 30, 1954 (age 62)
"Paul O'Neill 2001–2002 (1935-12-04) December 4, 1935 (age 81)
"John W. Snow 2003–2006 (1939-08-02) August 2, 1939 (age 78)
"Henry Paulson 2006–2009 (1946-03-28) March 28, 1946 (age 71)
"Timothy F. Geithner 2009–2013 (1961-08-18) August 18, 1961 (age 56)
"Jack Lew 2013–2017 (1955-08-29) August 29, 1955 (age 62)

Notes[edit]

  1. ^ https://www.law.cornell.edu/uscode/text/3/19
  2. ^ "31 U.S.C. § 301
  3. ^ "5 U.S.C. § 5312
  4. ^ "31 U.S.C. § 301
  5. ^ Cabinets and Counselors: The President and the Executive Branch (1997). "Congressional Quarterly. p. 87.
  6. ^ "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]

"Current U.S. order of precedence (ceremonial)
Preceded by
"David Souter
as Senior "Associate Justice
"Order of Precedence of the United States
as Secretary of the Treasury
Succeeded by
"James Mattis
as "Secretary of Defense
"Current U.S. presidential line of succession
Preceded by
"Secretary of State
"Rex Tillerson
5th in line Succeeded by
"Secretary of Defense
"James Mattis
) )