an officer or director for more than 160 corporations. In 1913, he and his brother established the Mellon Institute of Industrial Research, which later merged with the Carnegie Institute of Technology to become Carnegie Mellon University. During the First World War, he served on the board of the American Red Cross and other organizations supporting America’s wartime efforts.
In 1921, President Warren G. Harding appointed Andrew Mellon to secretary of the treasury, and he continued as such under both Calvin Coolidge and Herbert Hoover. As secretary, Mellon was a pioneer of supply-side economics, cutting tax rates in order to spur investment and economic growth, while slashing the national debt by more than 30 percent. Throughout most of his tenure, the nation enjoyed unparalleled prosperity, and his public service and numerous philanthropic endeavors made him a beloved national figure. As
Time
magazine later noted, he was widely considered the “greatest secretary of the treasury since Alexander Hamilton.”
And then the stock market crashed in 1929.
Mellon resigned from office in 1931, and Hoover lost reelection two years later. After taking office, Franklin Delano Roosevelt drew up a list of enemies and scapegoats. Mellon topped the list.FDR demanded that the IRS audit Mellon’s tax returns. No irregularities were found. Undaunted, FDR ordered his administration to seek an indictment against Mellon for tax evasion, but the grand jury refused. Finally, FDR’s Treasury Department filed a civil lawsuit against Mellon before the US Board of Tax Appeals for underpayment of taxes. Mellon was innocent; FDR knew it, but didn’t care. The tax proceedings kept the eighty-year-old Mellon on the witness stand for five days in 1935.
A lesser man might have held a grudge. But in 1936, weak and weary and dying of cancer, Mellon met FDR for tea at the White House and told him that he wanted to create a National Gallery of Art in the nation’s capital that would rival the best galleries of Europe. With FDR’s approval, Mellon financed construction of the gallery and donated his vast collection of art, then valued at $50 million. He died a few months later, just before the Board of Tax Appeals unanimously cleared him of all charges. The National Gallery of Art was completed in 1941. Thirty years later, a second building was added. It became known as the East Building; the original became known as the West Building.
A statue honoring Mellon now sits in a small park next to the West Building. Dagny and Mike raced past the statue on their way to the East Building. Although they had arrived late, they were greeted by a blinding flash from a
Post
photographer at the door. Mike gave him their names, spelling “Dagny” twice.
Inside, the gallery’s atrium was filled with floating red heart-shaped balloons. Below them, the district’s high society was at play. Dagny was trying to eavesdrop on George Will’s conversation with Senator Mitch McConnell when Mike tugged her toward a heavyset Mexican man wearing a big grin.
“Diego, this is Dagny Gray,” he announced.
“She’s even more beautiful than you described.” Diego hugged Dagny and kissed her cheek.
“It’s nice to meet you, Diego. I’m excited to see your exhibit.”
“Forget that!” Diego bellowed under the weight of too much wine. “Tonight is about something much more important.”
“Raising money for your charity?” Dagny asked.
“No. Dinner!” Diego laughed. “I put you guys with Carville and Matalin. You won’t have to say a word all evening.” A museum employee called for Diego. “Let’s talk after, okay?”
“Of course,” Mike replied as Diego jogged away.
“He seems like a very nice man,” Dagny said.
“Biggest heart in the world. A good friend. You want to see his work?”
Mike led Dagny up a staircase, then steered her past several paintings to a watercolor of a young Mexican fording the Rio Grande. His jeans were covered in dirt and
In 1921, President Warren G. Harding appointed Andrew Mellon to secretary of the treasury, and he continued as such under both Calvin Coolidge and Herbert Hoover. As secretary, Mellon was a pioneer of supply-side economics, cutting tax rates in order to spur investment and economic growth, while slashing the national debt by more than 30 percent. Throughout most of his tenure, the nation enjoyed unparalleled prosperity, and his public service and numerous philanthropic endeavors made him a beloved national figure. As
Time
magazine later noted, he was widely considered the “greatest secretary of the treasury since Alexander Hamilton.”
And then the stock market crashed in 1929.
Mellon resigned from office in 1931, and Hoover lost reelection two years later. After taking office, Franklin Delano Roosevelt drew up a list of enemies and scapegoats. Mellon topped the list.FDR demanded that the IRS audit Mellon’s tax returns. No irregularities were found. Undaunted, FDR ordered his administration to seek an indictment against Mellon for tax evasion, but the grand jury refused. Finally, FDR’s Treasury Department filed a civil lawsuit against Mellon before the US Board of Tax Appeals for underpayment of taxes. Mellon was innocent; FDR knew it, but didn’t care. The tax proceedings kept the eighty-year-old Mellon on the witness stand for five days in 1935.
A lesser man might have held a grudge. But in 1936, weak and weary and dying of cancer, Mellon met FDR for tea at the White House and told him that he wanted to create a National Gallery of Art in the nation’s capital that would rival the best galleries of Europe. With FDR’s approval, Mellon financed construction of the gallery and donated his vast collection of art, then valued at $50 million. He died a few months later, just before the Board of Tax Appeals unanimously cleared him of all charges. The National Gallery of Art was completed in 1941. Thirty years later, a second building was added. It became known as the East Building; the original became known as the West Building.
A statue honoring Mellon now sits in a small park next to the West Building. Dagny and Mike raced past the statue on their way to the East Building. Although they had arrived late, they were greeted by a blinding flash from a
Post
photographer at the door. Mike gave him their names, spelling “Dagny” twice.
Inside, the gallery’s atrium was filled with floating red heart-shaped balloons. Below them, the district’s high society was at play. Dagny was trying to eavesdrop on George Will’s conversation with Senator Mitch McConnell when Mike tugged her toward a heavyset Mexican man wearing a big grin.
“Diego, this is Dagny Gray,” he announced.
“She’s even more beautiful than you described.” Diego hugged Dagny and kissed her cheek.
“It’s nice to meet you, Diego. I’m excited to see your exhibit.”
“Forget that!” Diego bellowed under the weight of too much wine. “Tonight is about something much more important.”
“Raising money for your charity?” Dagny asked.
“No. Dinner!” Diego laughed. “I put you guys with Carville and Matalin. You won’t have to say a word all evening.” A museum employee called for Diego. “Let’s talk after, okay?”
“Of course,” Mike replied as Diego jogged away.
“He seems like a very nice man,” Dagny said.
“Biggest heart in the world. A good friend. You want to see his work?”
Mike led Dagny up a staircase, then steered her past several paintings to a watercolor of a young Mexican fording the Rio Grande. His jeans were covered in dirt and
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