United States Department of the Treasury
![Treasury Building](https://upload.wikimedia.org/wikipedia/commons/c/cf/Treasury_departement.jpg)
The
Department of the Treasury (
USDT) is the
national treasury and finance department of the
federal government of the United States, where it serves as an
executive department. The department oversees the
Bureau of Engraving and Printing and the
U.S. Mint. These two agencies are responsible for printing all
paper currency and minting
coins, while the treasury executes
currency circulation in the domestic fiscal system. The USDT
collects all
federal taxes through the
Internal Revenue Service; manages
U.S. government debt instruments;
licenses and supervises banks and
thrift institutions; and advises the
legislative and
executive branches on matters of
fiscal policy. The department is administered by the
secretary of the treasury, who is a member of the
Cabinet. The
treasurer of the United States has limited statutory duties, but advises the Secretary on various matters such as coinage and currency production. Signatures of both officials appear on all
Federal Reserve notes.
The department was established by an
Act of Congress in 1789 to manage government
revenue. The first secretary of the treasury was
Alexander Hamilton, who was sworn into office on September 11, 1789. Hamilton was appointed by President
George Washington on the recommendation of
Robert Morris, Washington's first choice for the position, who had declined the appointment. Hamilton established the nation's early financial system and for several years was a major presence in
Washington's administration. The department is customarily referred to as "Treasury", solely, without any
preceding article, as a remnant of the country's transition from
British to
American English during the late 18th century. Hamilton's portrait appears on the
obverse of the
ten-dollar bill, while the
Treasury Department building is depicted on the
reverse.
Provided by Wikipedia