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''His theory was that big business would prosper in proportion to the lightening of its tax load and its profit, would be transferred to the rest of the nation.''<ref>[http://www.treas.gov/education/history/secretaries/awmellon.shtml Mellon's philosophy.] </ref> </blockquote>
''His theory was that big business would prosper in proportion to the lightening of its tax load and its profit, would be transferred to the rest of the nation.''<ref>[http://www.treas.gov/education/history/secretaries/awmellon.shtml Mellon's philosophy.]</ref> </blockquote>
Mellon served under presidents Harding, Coolidge and Hoover as Secretary of the Treasury, during which time he reduced U.S. debt by 9 billion dollars. .<ref>The New American Desk Encyclopedia, Penguin Group, 1989</ref> Mellon ranked, at the time, as one of the richest people in the world. His vast art collection formed the basis of the [[National Gallery of Art]].
Mellon served under presidents Harding, Coolidge and Hoover as Secretary of the Treasury, during which time he reduced U.S. debt by 9 billion dollars. .<ref>The New American Desk Encyclopedia, Penguin Group, 1989</ref> Mellon ranked, at the time, as one of the richest people in the world. His vast art collection formed the basis of the [[National Gallery of Art]].