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1863 First Comptroller of the Currency
Lincoln’s Last Secretary of the Treasury
MC CULLOCH, Hugh (1808-1895). American lawyer and banker. During the Civil War 91863) McCulloch was selected by Samuel P. Chase to be the First Comptroller of the Currency. During his 22 months in office, 868 national banks were chartered and no failures occurred. As the First Comptroller, he recommended major changes in banking laws and the result was the National Bank Act of 1864 which remains the foundation of the National Banking System. On March 9, 1865 he was appointed by president Lincoln to be Lincoln’s 3rd Secretary of Treasury. Scarce letter signed as Comptroller of the Currency. “The name of the banks which you will be authorized to examine will from time to time be sent to you as your services may be required. Very truly yours, H. McCulloch”. A few letters light in McCulloch’s last name otherwise in very fine condition................ $125.00
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