Salmon P. Chase

Salmon Portland Chase was an American politician and jurist who served as the sixth chief justice of the United States from 1864 to 1873. He had earlier served as the 23rd governor of Ohio, and had also represented Ohio in the United States Senate, and had served as the 25th United States Secretary of the Treasury in the administration of Abraham Lincoln. Chase is therefore one of the few American politicians who have served in all three branches of the federal government, in addition to serving in the highest state-level office. Prior to his Supreme Court appointment, Chase was widely seen as a potential president.

Born in Cornish, New Hampshire, Chase studied law under Attorney General William Wirt before establishing a legal practice in Cincinnati. He became an anti-slavery activist and frequently defended fugitive slaves in court. Chase left the Whig Party in 1841 to become the leader of Ohio's Liberty Party. In 1848, he helped establish the Free Soil Party and recruited former President Martin Van Buren to serve as the party's presidential nominee. Chase won election to the Senate the following year, and he opposed the Compromise of 1850 and the Kansas–Nebraska Act. In the aftermath of the Kansas–Nebraska Act, Chase helped establish the Republican Party, which opposed the extension of slavery into the territories. After leaving the Senate, Chase served as the Governor of Ohio from 1856 to 1860.

Chase sought the Republican nomination for president in the 1860 presidential election, but the party chose Abraham Lincoln at its National Convention. After Lincoln won the election, he asked Chase to serve as Secretary of the Treasury. Chase served in that position from 1861 to 1864, working hard to ensure the Union was well-financed during the Civil War. Chase resigned from the Cabinet in June 1864, but retained support among the Radical Republicans. Partly to appease the Radical Republicans, Lincoln nominated Chase to fill the Supreme Court vacancy that arose following Chief Justice Roger Taney's death.

Chase served as Chief Justice from 1864 to his death in 1873. He presided over the Senate trial of President Andrew Johnson during the impeachment proceedings of 1868. Despite his nomination to the court, Chase continued to pursue the presidency. He unsuccessfully sought the Democratic presidential nomination in 1868 and the Liberal Republican nomination in 1872.

Secretary of the Treasury :

During the Civil War, Chase served as Secretary of the Treasury in President Lincoln's cabinet from 1861 to 1864. In that period of crisis, there were two great changes in American financial policy: the establishment of a national banking system and the issue of paper currency. The former was Chase's own particular measure. He suggested the idea, worked out the important principles and many of the details, and induced the Congress to approve them. It secured an immediate market for government bonds and provided a permanent, uniform, and stable national currency. Chase ensured that the Union could sell debt to pay for the war effort. He worked with Jay Cooke & Company to successfully manage the sale of $500 million in government war bonds (known as 5/20s) in 1862

The first U.S. federal currency, the greenback demand note, was printed in 1861–1862 during Chase's tenure as Secretary of the Treasury, and it was his responsibility to design the notes. In an effort to increase the public's recognition of him, Chase put his own face on a variety of U.S. paper currency, starting with the $1 bill, possibly to further his political career. It was engraved by Joseph Prosper Ourdan.

On May 5, 1862, Chase accompanied President Lincoln, Secretary of War Edwin M. Stanton, and Brigadier General Egbert Ludovicus Viele in what would become a pivotal week for Union forces. The presidential party left the Washington Navy Yard aboard a five-gun Treasury cutter, Miami, bound for Fort Monroe "to ascertain by personal observation whether some further vigilance and vigor might not be infused into the operations of the army and navy at that point" to determine whether Norfolk could be captured. After a 27-hour trip, the Miami reached Fort Monroe on the night of May 6. Chase went with Major General John E. Wool, in command of the Federals at Fort Monroe, to inspect beach locations for a potential troop landing and relayed to Lincoln that he and General Wool had found "a good and convenient landing place" on the south shore, safely away from the Confederates' ironclad, the CSS Virginia. Chase's participation in the reconnaissance ended with the surrender of Norfolk and the destruction of the Virginia.

On October 10, 1862, Secretary of the Navy Gideon Welles wrote that "a scheme for permits, special favors, Treasury agents, and improper management" existed and was arranged by Treasury Secretary Chase for General John A. Dix. The motive of Chase appeared to be for political influence and not for financial gain. 

Perhaps Chase's chief defect was an insatiable desire for high office. Throughout his term as Treasury Secretary, Chase exploited his position to build up political support for another run at the presidency in 1864. Benjamin Wade, a Republican commented: "Chase is a good man but his theology is unsound. He thinks there is a fourth person in the Trinity."

He also tried to pressure Lincoln by repeatedly threatening resignation, which he knew would cause Lincoln difficulties with the Radical Republicans.

To honor Chase for introducing the modern system of banknotes, he was depicted on the $10,000 bill printed from 1928 to 1946. Chase was instrumental in placing the phrase "In God We Trust" on United States coins in 1864.