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He was appointed Secretary of the Treasury by George Washington in 1795 to succeed Alexander Hamilton, but resigned in 1800 due to unpopularity, and a particularly vitriolic campaign against him in the press in which, among other things, he was falsely accused of setting fire to the State Department building. 1799 as Secretary of the Treasury he designed the United States Civil Flag. From 1803 to 1815 he operated in private business in New York City, afterwards retiring to Litchfield. He was elected governor in 1817 as a "Toleration Republican", following in the footsteps of his father and grandfather, and serving ten years in the post. His tenure was noted for the economic growth and moderate policies that attended it. Additionally, he presided over a convention that created a new state constitution in 1818.
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es:Oliver Wolcott, Jr. ka:უოლკოტი, ოლივერ ja:オリヴァー・ウォルコット (財務長官) sv:Oliver Wolcott, Jr. zh:小奥利弗·沃尔科特
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