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  1. Hugh McCulloch — Comptroller of the Currency, 1863-1865. During McCulloch's 22 months in office, 868 national banks were chartered and no failures occurred. The first Comptroller recommended major changes in the banking law. The resulting National Banking Act of 1864 remains the foundation of the national banking system.

  2. McCulloch was named for Hugh McCulloch (1808–1895), an American statesman who served as the 27th United States Secretary of the Treasury under Presidents Abraham Lincoln and Andrew Johnson from 9 March 1865 to 3 March 1869 and as the 36th U.S. Secretary of the Treasury under Presidents Chester A. Arthur and Grover Cleveland from 31 October ...

  3. The OCC's distinctive seal remained in use for many years alongside the seal of the Treasury Department, which appeared on most national bank notes of the period. And then it faded away, only to be revived to help celebrate the OCC's 100th anniversary in 1963. Today it reminds us of the time of McCulloch and Abraham Lincoln, when the OCC and ...

  4. 8. Aug. 2023 · Two federal agencies claim to be the rightful owners of a painting of the now-obscure Hugh McCulloch. The original painting of Hugh McCulloch now hangs at the Treasury Department. Andrew Ackerman ...

  5. Hugh McCulloch was born in 1808 in Kennebunk, Maine. He attended Bowdoin College, taught in Boston, studied law, and was admitted to the Massachusetts state bar in 1833. He then moved to Indiana and established a law practice. By 1835, McCulloch had left the law to become a cashier and manager of the Fort Wayne branch of the state bank of Indiana.

  6. Hugh McCulloch (1865 - 1869) & (1884 - 1885) As President of the State Bank of Indiana, Hugh McCulloch first came to Washington to protest Secretary of the Treasury Salmon P. Chase's National Banking System. Ironically, Chase asked McCulloch to launch the System in 1863 as the first Comptroller of Currency.

  7. Hugh McCulloch, president of the State Bank of Indiana, was appointed the first Comptroller of the Currency by President Lincoln. McCulloch, once a foe of national banking legislation, organized the agency and launched the national banking system. During McCulloch's 22 months in office, 868 national banks were chartered and no failures occurred.