When Robert J. Walker (1801-1869) was appointed Secretary of the Treasury by President James K. Polk in 1845, he had already established himself as a supporter of an independent treasury system and an apostle of free trade. His first concern as Secretary was the establishment of the Independent Treasury System of 1846, whereby the Treasury Department was made solely responsible for the handling of public monies. The new system established subtreasuries for the collection, safe-keeping, transfer, and disbursement of the public revenue.
Walker was also committed to free trade and was responsible for the Walker Tariff Bill of 1846, which significantly lowered import duties. He believed that no more money should be collected than was necessary for the needs of the government and that imports should be free if the country wanted to export its surplus products. The new lower tariff had a positive effect, resulting in an increase in trade and a coincidental increase in revenue for the government. Domestically Walker was an expansionist and was largely responsible for the establishment of the Department of the Interior in 1849. He retired at the end of Polk's administration.
- Text Courtesy of the Office
of the Curator
Forgotten Founders Historic Documents and Coins of Freedom - By Stanley
L. Klos - Last Exhbit at the 2008 GOP Convention:
http://www.pinellasrepublican.org/
Forgotten Founders Historic Documents and Coins of Freedom - By Stanley
L. Klos
Uncommon Sense: President Obama and
US China Trade 1784-2009
The United Colonies 1st
government began in a Philadelphia Tavern
and the United States 1st federal government ended in a
NYC Tavern!
The Founders convened the government in 11 different capitol buildings and
experienced 15 years of challenges that
included war,
hyper-inflation, a failed
constitution, judicial corruption, armed citizen and U.S. Army rebellions.
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