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| Affiliation | Republican |
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| Name | Charles J. Folger |
| Address |
Geneva, New York , United States |
| Email | None |
| Website | None |
| Born |
April 16, 1818
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| Died | September 04, 1884
(66 years)
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| Contributor | nystate63 |
| Last Modifed | RBH
Aug 11, 2015 03:52am |
| Tags |
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| Info | Appointed Secretary of the Treasury in 1881 by President Chester A. Arthur, Charles J. Folger (1818-1884) presided over the greatest surplus the government had ever had. With some humor he observed that times had changed since the first Treasury Secretary in 1789 was charged with devising plans for the collection of revenue; "What now perplexes the secretary is not wherefrom he may get revenue enough for the pressing needs of the government, but whereby he shall turn back into the flow of business the more than enough for those needs, that has been drawn from the people."
He considered several options, including using the surplus to pay off the federal debt or depositing it with commercial banks, both of which were of questionable legality. Finally, Folger advocated reducing the customs duties. However, a reduction in internal revenue rates together with a decrease in customs receipts in 1884 cut down the government's income and put off until 1890 the need for decisive action to prevent a surplus. In 1883 Folger oversaw the reclassification of the Treasury Department according to Civil Service rules. He died in office the next year.
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