It commemorates Albert Gallatin, who founded New York University and served as United States Secretary of the Treasury.It was authorized by Congress on January 11, 1927. It was dedicated on October 15, 1947.The inscription reads: ALBERT GALLATIN SECRETARY OF THE TREASURY GENIUS OF FINANCE SENATOR AND REPRESENTATIVE COMMISSIONER FOR THE TREATY OF GHENT MINISTER TO FRANCE AND GREAT BRITAIN AND STEADFAST CHAMPION OF DEMOCRACY 1761–1849

Dedication, Oct 15, 1947
Commissioned, Jan 11, 1927