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History of the Treasury
Secretaries of the Treasury
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Charles J. Folger
(1881 - 1884)
Appointed Secretary of the Treasury in 1881 by President
Chester A. Arthur, Charles J. Folger (1818-1884) presided over the greatest
surplus the government had ever had. With some humor he observed that times
had changed since the first Treasury Secretary in 1789 was charged
with devising plans for the collection of revenue; "What now perplexes the
secretary is not wherefrom he may get revenue enough for the pressing needs
of the government, but whereby he shall turn back into the flow of business
the more than enough for those needs, that has been drawn from the people."
He considered several options, including using the
surplus to pay off the federal debt or depositing it with commercial banks,
both of which were of questionable legality. Finally, Folger advocated
reducing the customs duties. However, a reduction in internal revenue
rates together with a decrease in customs receipts in 1884 cut down the
government's income and put off until 1890 the need for decisive action
to prevent a surplus. In 1883 Folger oversaw the reclassification of the
Treasury Department according to Civil Service rules. He died in office
the next year.
About the Artist
Eastman Johnson, the well-known genre and portrait
painter, was born in 1824 in Lowell, Maine, where his father served as
Secretary of State. He began his portrait career early, depicting members
of the Maine legislature and their families. In 1845, Johnson's father
took a job as chief clerk in the Bureau of Construction of the Navy Department
and the family moved to Washington, D.C. Continuing his portraiture, the
younger Johnson established a studio in the basement of the U.S. Capitol
where he painted Alexander Hamilton's widow and Daniel Webster, among
others. Johnson painted many official portraits for the White House, the
Capitol, and various government departments; his oeuvre reads like a Who's
Who of nineteenth-century America. His portrait of Charles J. Folger was
probably painted during Folger's last year in office.
Office of the Curator
All rights reserved. 2001
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