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History of the Treasury
Secretaries of the Treasury
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George W. Campbell
(1814)
Born in Scotland, George W. Campbell (1769-1848) moved
with his family to North Carolina in 1772. When President Madison appointed
him Secretary of the Treasury in 1814, he became to first cabinet member
from a region west of the Appalachian Mountains.  Campbell entered office during the War of
1812 and the state of the nation's finances was in serious disorder. Congress
had failed to recharter the First Bank of the United States after its charter
expired in 1811 and had not made appropriations to finance the War of 1812.
Campbell's most perplexing problem was convincing
the American people to buy government bonds to pay for the war. Much of
the nation's money was concentrated in New England, which was opposed
to the war, and though Campbell put up bonds for sale and begged northern
bankers to subscribe, he could not inspire their confidence. He was forced
to meet to lenders terms, selling government bonds at exorbitant interest
rates. In September 1814 the British occupied Washington and the credit
of the government was lowered even further. Campbell was unsuccessful
in his efforts to raise money through additional bond sales and he resigned
that October after only eight months in office, disillusioned and in bad
health.
About the Artist
Freeman Thorp was born in Geneva, Ohio in 1844 and
was determined at an early age to become a portrait painter. He sketched
a portrait of Abraham Lincoln in February 1861 when Lincoln stopped for
a speech in Geneva on route to his inauguration in Washington, D.C. Thorp
followed Lincoln to Washington where he painted several life portraits
of the President in addition to painting later presidents and many other
political figures. His 1880 portrait of George W. Campbell, painted long
after Campbell's death, was based on available graphic documentation such
as engravings and earlier paintings.
Office of the Curator
All rights reserved. 2001
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