Inspirational Quotations

Inspirational Quotes by Andrew W. Mellon (American Financier)

Andrew William Mellon (1855–1937) was an American financier, public official, art collector, and philanthropist. A financier and steel-, coke-, and oil-magnate and one of the wealthiest men in the world, he became secretary to the U.S. Treasury (1921–32,) Ambassador to England (1932–33.)

Born in Pittsburgh and educated at Western University (now the University of Pittsburgh,) Mellon took over his family’s small private bank and turned it into one of the largest sources of capital in American history. Mellon substantially supplied capital for Pittsburgh-based corporations to expand in such fields as aluminum, steel, oil, coal, coke, and synthetic abrasives. He was also the driving force behind Alcoa, Union Steel, McClintic-Marshall, and other giants. By the early 1920s, Mellon had become one of the wealthiest men in America.

Mellon served as the head of the U.S. Treasury under presidents Warren G. Harding, Calvin Coolidge, and Herbert Hoover. He cut the high World War I-wartime tax rates, lowered the surtax rates on incomes, lowered income tax rates, and helped spur the American economic boom of the 1920s. His popularity declined when the Great Depression began in 1929, and he served as U.S. Ambassador to England for a year.

In 1937, Mellon donated his art collection (particularly rich in Dutch and English painting) to found the National Gallery of Art in Washington, D.C., which opened in 1941. Mellon’s wealth is endowed with the Andrew W. Mellon Foundation, known as the Mellon Foundation, with assets of $273 million in 1969, which had grown to $8.2 billion by 2020.

Mellon wrote Taxation: The People’s Business (1924.) Biographies include Philip H. Love’s Andrew W. Mellon (1929) and Harvey O’Connor’s Mellon’s Millions: The Biography of a Fortune (1933.)

More: Wikipedia READ: Works by Andrew W. Mellon

Gentlemen prefer bonds.
Andrew W. Mellon

A nation is not in danger of financial disaster merely because it owes itself money.
Andrew W. Mellon
Topics: Economy, Economics

If the spirit of business adventure is dulled, this country will cease to hold the foremost position in the world
Andrew W. Mellon
Topics: Adventure, Business

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