![Albert Gallatin, portrait by Rembrandt Peale, 1805; in Independence National Historical Park, &elipsis; [Credit: Courtesy of the Independence National Historical Park Collection, Philadelphia]](http://images.bookrags.com/images/eb/11630.gif)
Albert Gallatin, portrait by Rembrandt Peale, 1805; in Independence National Historical Park, &elipsis; [Credit: Courtesy of the Independence National Historical Park Collection, Philadelphia](born Jan. 29, 1761, Geneva, Switz.—died Aug. 12, 1849, Astoria, N.Y., U.S.) U.S. secretary of the treasury (1801–14).
At 19 he immigrated to Pennsylvania, where he became successful in business and finance. Elected to the U.S. House of Representatives in 1795, he inaugurated the House Committee on Finance, a forerunner of the powerful Ways and Means Committee. As secretary of the treasury he reduced the national debt by $23 million. He opposed the War of 1812 and was instrumental in negotiating the Treaty of Ghent in 1814. After serving as minister to France (1816–23) and to Britain (1826–27), he was president of the National (later Gallatin) Bank in New York City (1831–39).
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