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Andrew Mellon

Andrew Mellon was the only United States Secretary of the Treasury to have served for three different presidents, 1921-1932.

Expanded Definition

Mellon (born 1855; died 1937) was appointed secretary of the Treasury by President Harding in 1921, and continued to serve under Presidents Coolidge and Hoover. He left the Treasury in 1932.

According to the Department of the Treasury: "Mellon's philosophy was one of debt reduction, tax reduction, and a balanced budget. His tax reform scheme, known as the Mellon Plan, reduced taxes for business. ... His theory was that big business would prosper in proportion to the lightening of its tax load and its profit would be transferred to the rest of the Nation."

The charitable Andrew W. Mellon Foundation was formed in 1969 through consolidation of foundations already established by two of his children.

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