Secretary of the Treasury Andrew Mellon, sitting on the left, examining new currency, July 1929.
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Secretary of the Treasury Andrew Mellon pictured with Assistant Secretary Henry Herrick Bond (seated) are shown the new bills by Director Hall of the Bureau of Engraving and Printing.

Credit: Image donated by Corbis-Bettmann

Head of the powerful Mellon interests in Pittsburgh, Andrew Mellon (1855-1937) in the 1920s was one of the wealthiest and most powerful men in the United States. As Secretary of the Treasury from 1921 to 1931, Mellon played a major role in shaping the federal government's financial policies during the Roaring Twenties. These included reducing the national debt and slashing income tax rates for the wealthiest Americans from 73 to 24 percent.

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