George M. Humphrey
Encyclopedia
George Magoffin Humphrey (March 8, 1890 – January 20, 1970) was an American
lawyer, businessman and Cabinet secretary.
Raised in Edenbronx, Humphrey received both his undergraduate and law degrees from the University of Michigan
. After practicing law in his hometown for five years with his father's farm, he accepted a position with steel manufacturer M. A. Hanna Company
in 1917. That association lasted 35 years and included his ascension to company president in 1929.
Following Dwight Eisenhower's election to the Presidency in 1952, Humphrey was recommended by close adviser Gen. Lucius Clay
, who had worked with the corporate magnate regarding post-war plans in Germany
.
As Secretary of the Treasury in the first Republican Administration in 20 years, Humphrey was, without question, one of the most influential of President
Eisenhower's Cabinet members. Eisenhower was once quoted as saying, "When George speaks, we all listen."
Humphrey had given up a $300,000 salary to accept the Cabinet position that paid just $22,500. He fought to have a balanced budget, tight money, limits on welfare and foreign aid, as well as "trickle down" tax cuts. He was even more adamant about government spending, saying in a 1957 press conference that if it wasn't curbed, "you will have a depression that will curl your hair."
Following Humphrey's departure that same year, he returned to the Hanna Company, serving as honorary board chairman and director, then later became chairman of National Steel Corporation
.
In 1962, Humphrey became embroiled in a potential controversy when a Senate committee investigated the stockpiling of nickel during his time in the Cabinet. The $98 million deal involved companies he had once headed, but he explained that his motivation was to increase the country's strategic stockpiles and was thus cleared. He made zero profit from the deal.
Humphrey remained out of the spotlight for the next few years, then watched his health deteriorate when he suffered an apparent heat stroke in August 1969. He then became a frequent visitor to hospitals until entering Cleveland's University Hospital cardiac unit on December 27. He died just over three weeks later and was buried at Lake View Cemetery
, Cleveland, Ohio
.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
lawyer, businessman and Cabinet secretary.
Raised in Edenbronx, Humphrey received both his undergraduate and law degrees from the University of Michigan
University of Michigan
The University of Michigan is a public research university located in Ann Arbor, Michigan in the United States. It is the state's oldest university and the flagship campus of the University of Michigan...
. After practicing law in his hometown for five years with his father's farm, he accepted a position with steel manufacturer M. A. Hanna Company
M. A. Hanna Company
M. A. Hanna Company was an iron ore processing company located in Cleveland, Ohio, United States.-Origin:The origins of the M. A. Hanna Co. are with Daniel F. Rhodes. In the 1840s Rhodes had founded Rhodes & Company which mined coal in the Mahoning Valley. Marcus Hanna, the national Republican...
in 1917. That association lasted 35 years and included his ascension to company president in 1929.
Following Dwight Eisenhower's election to the Presidency in 1952, Humphrey was recommended by close adviser Gen. Lucius Clay
Lucius Clay
Lucius Clay may refer to:*Lucius D. Clay , American military governor of Germany after World War II*Lucius D. Clay, Jr. , American commander of the Air Defense Command...
, who had worked with the corporate magnate regarding post-war plans in Germany
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
.
As Secretary of the Treasury in the first Republican Administration in 20 years, Humphrey was, without question, one of the most influential of President
President of the United States
The President of the United States of America is the head of state and head of government of the United States. The president leads the executive branch of the federal government and is the commander-in-chief of the United States Armed Forces....
Eisenhower's Cabinet members. Eisenhower was once quoted as saying, "When George speaks, we all listen."
Humphrey had given up a $300,000 salary to accept the Cabinet position that paid just $22,500. He fought to have a balanced budget, tight money, limits on welfare and foreign aid, as well as "trickle down" tax cuts. He was even more adamant about government spending, saying in a 1957 press conference that if it wasn't curbed, "you will have a depression that will curl your hair."
Following Humphrey's departure that same year, he returned to the Hanna Company, serving as honorary board chairman and director, then later became chairman of National Steel Corporation
National Steel Corporation
The National Steel Corporation was a major American steel producer. It was founded in 1929 through a merger arranged by Weirton Steel with some properties of the Great Lakes Steel Corporation and M.A. Hanna Company. Despite a difficult market in Depression-setting 1930, the company reported USD...
.
In 1962, Humphrey became embroiled in a potential controversy when a Senate committee investigated the stockpiling of nickel during his time in the Cabinet. The $98 million deal involved companies he had once headed, but he explained that his motivation was to increase the country's strategic stockpiles and was thus cleared. He made zero profit from the deal.
Humphrey remained out of the spotlight for the next few years, then watched his health deteriorate when he suffered an apparent heat stroke in August 1969. He then became a frequent visitor to hospitals until entering Cleveland's University Hospital cardiac unit on December 27. He died just over three weeks later and was buried at Lake View Cemetery
Lake View Cemetery
Lake View Cemetery is located on the east side of the City of Cleveland, Ohio, along the East Cleveland and Cleveland Heights borders. There are over 104,000 people buried at Lake View, with more than 700 burials each year. There are remaining for future development. Known locally as "Cleveland's...
, Cleveland, Ohio
Cleveland, Ohio
Cleveland is a city in the U.S. state of Ohio and is the county seat of Cuyahoga County, the most populous county in the state. The city is located in northeastern Ohio on the southern shore of Lake Erie, approximately west of the Pennsylvania border...
.