Philip Clayton was born to Augustin Smith Clayton (27 November 1783-21 June 1839) (Judge, U.S. Congressman, and for whom Clayton County, Georgia is named) and Julia Carnes (02 July 1787-03 June 1873) in Athens, Clarke County, Georgia on 19 March 1815. He graduated from nearby Franklin College (now University of Georgia), studied law, married Leonora Harper (October 1818-1895), and was Editor of the Athens Southern Whig before embarking on a career in government. U.S. President Zachary Taylor (24 November 1784-09 July 1850) appointed him Second Auditor of the Treasury on 03 January 1850, a position he held for the next seven years. U.S. President James Buchanan (23 April 1791-01 June 1868) promoted him to Assistant Secretary of the Treasury on 13 March 1857. For the next four years he served under Secretary (later Confederate Congressman and Maj. Gen.) Howell Cobb, Sr. (07 September 1815-09 October 1868). He resigned shortly after the secession of Georgia in January 1861.

     He was formally appointed Assistant Secretary of the Treasury of the Confederate States on 02 April 1862. Records are unclear whether he held the position prior to that date or how long afterward. He had to have resigned by 19 May 1864, which was the date of appointment of his successor, William Wood Crump (25 November 1819-27 February 1897). After the war, he worked for several years as a bank teller in Augusta, Richmond County, Georgia. Through his relationship with Alexander Hamilton Stephens (11 February 1812-04 March 1883) (then a U.S. Representative), he was appointed U.S. Consul to Peru on 13 May 1874 and held the position for three years, before succumbing to yellow fever. Clayton died on 22 March 1877, and is buried in British Cemetery, in Bellavista, Callao, Peru.