Albert Gallatin (1761–1849), political leader, diplomat, and financier is pictured on the 1-1/4¢ stamp. Gallatin, born in Switzerland to an aristocratic family , immigrated to America in 1780 and settled in western Pennsylvania. He was elected to local government and later to the U.S. House of Representatives. Known for his fiscal integrity, he created the Ways and Means Committee, with the power of using House appropriations to uphold or veto treaties. He served presidents Jefferson and Madison as secretary of the treasury from 1801 to 1811. Gallatin is considered the chief architect of the Treaty of Ghent, which ended the War of 1812. He went on to serve as minister to France. After forty years of public service, he entered private banking and headed the National (later the Gallatin) Bank of New York. He is buried in the yard of Trinity Church, at the foot of Wall Street in New York.
The Post Office Department issued the 1-1/4¢ light green stamp on January 30, 1967, in Gallatin, Missouri. The stamp was produced as a sheet stamp printed from plates of four hundred and sold in panes of one hundred stamps with gauge 11 x 10.5 perforations. The stamp was designed by Robert Gallatin, a descendant of Albert Gallatin, after a Gilbert Stuart portrait currently in the Metropolitan Museum of Art, New York City. The stamp was engraved by Edward R. Felver (vignette) and Robert G. Culin (lettering). This was the first time Gallatin appeared on a U.S. postage stamp.
The 1-1/4 ¢ Gallatin stamp paid the third class, non-profit bulk/quantity discount mail rate.