Andrew Mellon

Andrew Mellon (1855-1937) served as U.S. Secretary of the Treasury from 1921 to 1932 and was one of America's most successful financiers and industrialists. His impact extended beyond business into philanthropy and art collecting, culminating in the founding of the National Gallery of Art in Washington, D.C. As a businessman, Mellon transformed multiple industries through strategic investments in aluminum, steel, oil, shipbuilding, and banking. His financial acumen helped build Gulf Oil Corporation and Aluminum Company of America (Alcoa) into industry giants, while his leadership of Mellon Bank established it as one of the largest financial institutions in the United States. During his tenure as Treasury Secretary under three presidents, Mellon implemented significant tax reforms and debt reduction policies that characterized the economic landscape of the 1920s. His economic principles, which became known as "Mellon's Plan," advocated for lower tax rates to stimulate business growth and increase government revenues. Mellon's extensive art collection, valued at over $40 million in the 1930s, was donated to create the National Gallery of Art, marking one of the largest philanthropic gifts in American history. His authored work "Taxation: The People's Business" (1924) remains a significant text on American economic policy during the interwar period.

Readers focus primarily on David Cannadine's biography "Mellon: An American Life" and Mellon's own book "Taxation: The People's Business." Readers value the detailed research in Cannadine's biography, with specific praise for the coverage of Mellon's business dealings and Treasury policies. One Amazon reviewer noted: "The author provides clear explanations of complex financial transactions without getting bogged down." For "Taxation," readers appreciate Mellon's clear explanations of economic principles. A Goodreads reviewer stated: "His arguments about lowering tax rates to increase revenue remain relevant today." Common criticisms include: - Limited coverage of Mellon's personal life - Dense financial details that can be hard to follow - Bias in favor of big business interests Ratings across platforms: "Mellon: An American Life" - Goodreads: 4.0/5 (156 ratings) - Amazon: 4.3/5 (47 reviews) "Taxation: The People's Business" - Goodreads: 3.8/5 (24 ratings) - Amazon: 4.4/5 (15 reviews)

Taxation: The People's Business (1924) A detailed examination of American tax policy in the 1920s, with Mellon's arguments for reducing tax rates to increase government revenue, written during his tenure as U.S. Secretary of the Treasury.

John Steele Gordon writes about American financial and business history with a focus on prominent banking families and economic development. His works, like "Hamilton's Blessing" and "The Great Game," explore the intersection of wealth, politics, and institutional power.

Ron Chernow specializes in biographies of financial titans and examines the development of American capitalism. He has documented the lives of J.P. Morgan, John D. Rockefeller, and the Warburg banking dynasty.

Jean Strouse focuses on the personal and business lives of American banking figures in the Gilded Age. Her biography of J.P. Morgan provides insights into the power dynamics of early American finance and the personalities who shaped the banking system.

David Nasaw writes biographies of wealthy American businessmen and their influence on society. His work on Andrew Carnegie parallels many themes found in Mellon's story, including immigration, industrial wealth, and philanthropy.

Liaquat Ahamed examines the role of central bankers and financial policy makers in shaping economic history. His book "Lords of Finance" explores the same era as Mellon's tenure as Treasury Secretary and provides context for the financial decisions of the period.