Appointed Secretary of the Treasury by James Madison, he faced national financial disorder brought on by the War of 1812. Congress had failed to recharter the First Bank of the United States after its charter expired in 1811, and appropriations for the war were unavailable, so Campbell had to convince Americans to buy government bonds. He was forced to meet to lenders terms, selling government bonds at exorbitant interest rates. In September, 1814 the British occupied Washington, D.C. and the credit of the government was lowered even further. Campbell was unsuccessful in his efforts to raise money through additional bond sales and he resigned that October after only eight months in office, disillusioned and in bad health.