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Horatio 1805-1867 Macculloch

mcculloch, president and secretary

MACCULLOCH, HORATIO (1805-1867), Scottish land scape painter, was born in Glasgow. He studied for a year under John Knox, a Glasgow landscape-painter, was then engaged at Cumnock to paint the ornamental lids of snuff-boxes, and after wards went to Edinburgh where Lizars, the engraver, employed him to colour book illustrations. At Glasgow he was employed to paint several large pictures for the decoration of a public hall in St. George's Place. MacCulloch's works form an interesting link be tween the old world of Scottish landscape and the new. From 1829 he exhibited regularly in the Royal Scottish Academy's exhibition till his death in June 24, 1867.

A volume of photographs from his landscapes, with a biographical notice by Alexander Fraser was published in Edinburgh in 1872.

McCULLOCH, HUGH

(1808-1895), American financier, was born at Kennebunk (Me.) Dec. 7, 1808. He was educated at Bowdoin college, studied law in Boston, and in 1833 began practice at Ft. Wayne (Indiana). He was cashier and manager of the Ft. Wayne branch of the old State bank of Indiana from 1835 to 1857, and president of the new State bank from 1857 to 1863. He was selected by Secretary Chase as comptroller of the

currency in 1863 to put the new national banking Act of 1862 into operation. He was appointed secretary of the treasury by President Lincoln in 1865, and was continued in office by Presi dent Johnson until the close of his administration in 1869. In accordance with his suggestion, an act was passed (March 12, 1866), authorizing the withdrawal from circulation of greenbacks as a preliminary to the resumption of specie payments, but it met with strong opposition and was repealed on Feb. 4, 1868, after only $48,000,000 had been withdrawn. McCulloch went to England, and spent six years (187o-76) as a member of the bank ing firm of Jay Cooke, McCulloch and Co. From Oct. 1884 until the close of President Arthur's term of office in March 1885 he was again secretary of the treasury. He died at his home near Washington (D.C.) May 24, The chief authority for the life of McCulloch is his own book, Men and Measures of Half a Century (New York, 1888).