Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-03-16
STATUE TO HONOR
ALBERT GALLAT|N
Native of Switzerland Was
One of Americas Greatest
FinancierS.

The services of one of America S
greatest financiers, Albert Gallatin, are
to be commemorated by a statue which
will be erected on the steps of the
Treasury Building A committee has
been formed to raise funds for erection
of the statue, Congress having some
time ago authorized placing it along
with that of Alexander Hamilton and
appropriated $4,000 for that purpose
The same artist. j. E. Fraser, who did
that of Alexander Hamilton will do the
Gallatin statue.
Gallatin. a native of Switzerland. was
born January %, 1861, in Geneva, but
liberal views toward America evidenced
in that country had much influence
upon him, and toward the close of
Americas struggle with England he
came to this country. Coming of a
family well known in. Europe, he was
able to acquaint himself broadly in
America, but for some time he preferred
to live on the then Western frontier Of
Pennsylvania, where he began his ca
reer on farm.
Served in Congress.
However he was not satisfied to
spend many years in this work, and
having had an excellent education and
ADtdhlIlS EIlklloLl Will q SObo dNOCAlb AAC
filled his first public position at the age
of % as a member of the Pennsylvania
Constitutional Convention. He had been
generally known then as an ardent anti
Federalist. His ability, aggressiveness
and clear mind resulted in him push
ing ahead in the political life Of the
country, regardless of the opposition
which was evidenced to him through
his anti Federalist views and his ma
IL for in
the State Legislature and was chosen
as United States Senator in 1898, but
later returned to Washington to sit in
the House of Representatives for three
terms.
With this experience behind him, he
became one of the acknowledged lead
ers of his party. and his ability as
flnancier was brought out several times
while serving in the Senate and House
The natural result of this experience
was his appointment as Secretary of the
Treasury in 1901 by Thomas Jefferson
Due still to his political views, the APP
pointment was not entirely a popular
one, but to the public generally it was
acknowledged that he was the logical
and outstanding man for that post dur
ing that period. Upon becoming Secre-
tary of Treasury he very soon an
nounced the necessity of a thorough
study of the operation of the Treasury
Department and the public debt of this
country. Realizing then that some time
would be occupied in this, he presented
these views to Mr.. Jefferson, whose
support he won.
Was Thorough Public Oficer,
Gallatin, perhaps, was one of the
most thorough public offlcialS this
country has ever had. and the SIM
plicity of his administration and the
desire speedily to eliminate the public
debt we're the two outstanding accom-
plishments in the Treasury Depart
ment. When he came into office, in
1901, the public debt was a little over
$50 600 900, which had been decreased
on January !, 1912, to little over $45,-
600 900, even though in the meantime
the purchase of Louisiana from France,
which cost this country SIS 200 900, had
been accomplished, {
He continued in office. when James
Madison was elected President, pushing
on eficiently with his theory that q
national debt was not national bless
ing.
However, America became engaged in
war with England and he saw his work
torn from its foundation. Confronted
by this experience, the finances of the
country were placed In the best order
possible and he turned his attention to
bringing about an early peace.
At this stage of his life Gallatin en-
tered the diplomatic service at the in
stance of President Madison and went
to st. Petersburg to seek the interven-
ton of the Gar of Russia, later taking
part in the negotiations for the treaty
at Client /
His work in this connection was very
ably handled, although in America he
was not as strongly supported as he might
have been because Of his foreign ex-
traction. Those who we're running the
Government realized his true worth
and having Immediately distinguished
himself as diplomat, he remained in
the service for number of years. He
was for seven years Minister to France
and for about two years represented
the United States at the court OF st.
James.
His last public act was when he was
called upon to prepare the case of the
United States in regard to the North
part of the .30s..
Seek $4,000 for Statue.
The last 20 years of his life he spent
In retirement, living in New York and
interesting himself in a banking insti-
tuition, devoting his leisure time to his
hobbies, writing and science. He died
at Inc age OF 81, having f1ve years pre-
vious to his death, in 1874. been again
offered the portfolio of the Treasury
Department.
Gallatin was descended from a fam
fly Of distinguished ancestors, which
was first noted in history at Savoy in
1858
In honor of the record of this man,
the Albert Gallatin memorial fund COM
mittee has been formed to raise ap-
proximately $4,000 to cover the cost
Of this statue.
Corcoran Thorn, president of the
American Security g. Trust Co., has
accepted the Craftsmanship of the local
comMttee in the national campaign
Other members of the local committee
are Frederic A. Delano. DR.. Gilbert
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