George Magoffin Humphrey was an American lawyer, businessman and Cabinet secretary.
Raised in Edenbronx, Humphrey received both his undergraduate and law degrees from the University of Michigan. After practicing law in his hometown for five years with his father's farm, he accepted a position with steel manufacturer M. A. Hanna Company in 1917. That association lasted 35 years and included his ascension to company president in 1929.
He served as Chairman of The Business Council, then known as the Business Advisory Council for the United States Department of Commerce in 1946.
Following Dwight Eisenhower's election to the Presidency in 1952, Humphrey was recommended by close adviser Gen. Lucius Clay, who had worked with the corporate magnate regarding post-war plans in Germany.
As Secretary of the Treasury in the first Republican Administration in 20 years, Humphrey was, without question, one of the most influential of President Eisenhower's Cabinet members. Eisenhower was once quoted as saying, "When George speaks, we all listen."
Humphrey had given up a $300,000 salary to accept the Cabinet position that paid just $22,500. He fought to have a balanced budget, tight money, limits on welfare and foreign aid, as well as "trickle down" tax cuts. He was even more adamant about government spending, saying in a 1957 press conference that if it wasn't curbed, "you will have a depression that will curl your hair."