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Encyclopedia > Department of the Treasury
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Dept. of the Treasury
Seal of the Department of the Treasury
Established: September 2, 1789
Activated: September 11, 1789
Secretary: John W. Snow
Deputy Secretary: Robert Kimmitt
Treasurer Anna Escobedo Cabral
Budget: $11.1 billion (2004)
Employees: 115,897 (2004)

The United States Department of the Treasury is a Cabinet department, a treasury, of the United States government established by an Act of U.S. Congress in 1789 to manage the revenue of the United States government. Seal of the United States Department of the Treasury. ... Jump to: navigation, search September 2 is the 245th day of the year in the Gregorian calendar (246th in leap years). ... Jump to: navigation, search 1789 was a common year starting on Thursday (see link for calendar). ... Jump to: navigation, search September 11 is the 254th day of the year in the Gregorian calendar (255th in leap years). ... Jump to: navigation, search 1789 was a common year starting on Thursday (see link for calendar). ... John W. Snow, the current Secretary of the Treasury. ... John W. Snow John William Snow, Ph. ... The Treasurer of the United States is the only position within the United States Department of the Treasury older than the Department itself. ... Anna Escobedo Cabral is the 42nd Treasurer of the United States, having been nominated to the position by President George W. Bush to succeed Rosario Marin. ... Cabinet meeting on May 16, 2001. ... A treasury is the part of a government which manages all money and revenue. ... Jump to: navigation, search Seal of the Congress. ... Jump to: navigation, search 1789 was a common year starting on Thursday (see link for calendar). ...

Contents


Overview

It is administered by the United States Secretary of the Treasury and the Treasurer of the United States who receives and keeps the monies of the United States. The Department prints and mints all the Federal Reserve notes and coins in circulation through the Bureau of Engraving and Printing and the United States Mint. It also collects all taxes through the Internal Revenue Service. John W. Snow, the current Secretary of the Treasury. ... The Treasurer of the United States is the only position within the United States Department of the Treasury older than the Department itself. ... Various Federal Reserve Notes Federal Reserve note is the official name for the kind of banknote used in the United States, more commonly known as dollar bills. ... Top row: Sacagawea Dollar, Lincoln Cent, and Roosevelt Dime. ... BEP Annual Production Figures Categories: U.S. Dept. ... Jump to: navigation, search Mrs. ... Jump to: navigation, search A tax is a compulsory charge or other levy imposed on an individual or a legal entity by a state or a functional equivalent of a state (e. ... The Internal Revenue Service (IRS) is the United States government agency that collects taxes and enforces the tax laws. ...

Treasury Department official, surrounded by packages of newly minted currency, counting and wrapping dollar bills. Washington, D.C., 1907.
Treasury Department official, surrounded by packages of newly minted currency, counting and wrapping dollar bills. Washington, D.C., 1907.

The basic functions of the Department of the Treasury include: Download high resolution version (1100x1398, 239 KB)Treasury Department official, surrounded by packages of newly minted currency, counting and wrapping dollar bills. ... Download high resolution version (1100x1398, 239 KB)Treasury Department official, surrounded by packages of newly minted currency, counting and wrapping dollar bills. ...

With respect to the estimation of revenues for the executive branch, Treasury serves a purpose parallel to that of the Office of Management and Budget for the estimation of spending for the executive branch, the Joint Committee on Taxation for the estimation of revenues for Congress, and the Congressional Budget Office for the estimation of spending for Congress. The tax, tariff and trade laws of a political region, state or trade bloc determine which forms of consumption and production tend to be encouraged or discouraged. ... Jump to: navigation, search This 1974 stamp from Japan depicts a Class 8620 steam locomotive. ... Jump to: navigation, search The U.S. public debt, commonly called the national debt or the gross federal debt, is the amount of money owed by the United States federal government. ... The essential function of a bank is to provide services related to the storing of deposits and the extending of credit. ... Jump to: navigation, search Monetary policy is the process of managing a nations money supply to achieve specific goals—such as constraining inflation, achieving full employment or economic growth. ... In Governments Economic policies determine the set of actions that a government can take in terms of its expenditure, borrowing, setting of interest rates, etc. ... An industrial policy is any government regulation or law that encourages the ongoing operation of, or investment in, a particular industry. ... Fiscal Policy is the economic term which describes the behaviour of governments in raising money to fund current spending and investment for collective social purposes and for transfer payments to citizens and residents of the territory for which the government is responsible. ... Jump to: navigation, search Seal of the Congress. ... This article contrasts tax evasion, tax avoidance, tax resistance and tax mitigation. ... A counterfeit is an imitation that is made with the intent to deceptively represent its content or origins. ... Forgery is the process of making or adapting objects or documents (see false document), with the intention to deceive. ... These lollipops, above, were found to contain heroin when inspected by the DEA. Smuggling is illegal transport, in particular across a border. ... Shine Road The name tells the history of this back road Hemingway, South Carolina The literal meaning of moonshine is the light of the moon, but because the activity of distilling whiskey unlawfully was usually done at night with as little light as possible, the word became both a verb... Under the doctrine of the separation of powers, the executive is the branch of a government charged with implementing, or executing, the law and running the day-to-day affairs of the government or state. ... The Office of Management and Budget (OMB) is a body within the Executive Office of the President of the United States which is tasked with coordinating United States Federal agencies. ... Jump to: navigation, search The Joint Committee on Taxation is a Committee of Congress established under the Internal Revenue Code. ... The Congressional Budget Office is a federal agency within the legislative branch of the United States government. ...


The term Treasury reform usually refers narrowly to reform of monetary policy and related economic policy and accounting reform.The broader term monetary reform usually refers to reform of policy of institutions such as the International Monetary Fund. Monetary reform is accounting reform that reaches more deeply into banking central bank, money supply and monetary policy. ... Jump to: navigation, search Monetary policy is the process of managing a nations money supply to achieve specific goals—such as constraining inflation, achieving full employment or economic growth. ... In Governments Economic policies determine the set of actions that a government can take in terms of its expenditure, borrowing, setting of interest rates, etc. ... Accounting reform is change to accounting rules that goes beyond the enforcement of standard accounting practices and the elimination of creative accounting. It is advocated by those who consider the present standards and practices of the profession wholly inadequate to the task of measuring and reporting the activity, success, and... Monetary Reform is accounting reform that reaches more deeply into banking central bank, money supply and monetary policy. ... Jump to: navigation, search The logo of the International Monetary Fund (IMF) The International Monetary Fund (IMF) is the international organization entrusted with overseeing the global financial system by monitoring exchange rates and balance of payments, as well as offering technical and financial assistance when asked. ...


History

The Office of the Treasurer is the only office in the Treasury Department that is older than the Department itself. It is an office that was originally created by the Continental Congress in 1775. The Department of the Treasury was created by an Act of Congress passed on September 2, 1789: Jump to: navigation, search The Continental Congress was the legislature of the Thirteen Colonies and later of the United States from 1774 to 1789, a period that included the American Revolutionary War and the Articles of Confederation. ... Jump to: navigation, search 1775 was a common year starting on Sunday (see link for calendar). ... Jump to: navigation, search September 2 is the 245th day of the year in the Gregorian calendar (246th in leap years). ... Jump to: navigation, search 1789 was a common year starting on Thursday (see link for calendar). ...

The US Treasury, Washington D.C.
Enlarge
The US Treasury, Washington D.C.
And be it...enacted, That it shall be the duty of the Secretary of the Treasury to digest and prepare plans for the improvement and management of the revenue, and for the support of public credit; to prepare and report estimates of the public revenue, and the public expenditures; to superintend the collection of revenue; to decide on the forms of keeping and stating accounts and making returns, and to grant under the limitations herein established, or to be hereafter provided, all warrants for monies to be issued from the Treasury, in pursuance of appropriations by law; to execute such services relative to the sale of the lands belonging to the United States, as may be by law required of him; to make report, and give information to either branch of the legislature, in person or in writing (as he may be required), respecting all matters referred to him by the Senate or House of Representatives, or which shall appertain to his office; and generally to perform all such services relative to the finances, as he shall be directed to perform. [1]

Alexander Hamilton was sworn in as the first Secretary of the Treasury on September 11, 1789. The Treasury Building is on the back of the U.S. $10 bill, the same bill with Alexander Hamilton's portrait. Download high resolution version (834x422, 108 KB)US Treasury, government etching, public domain, large version 830x420 File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... Download high resolution version (834x422, 108 KB)US Treasury, government etching, public domain, large version 830x420 File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... Jump to: navigation, search A portrait of Alexander Hamilton by John Trumbull, 1792. ... Jump to: navigation, search September 11 is the 254th day of the year in the Gregorian calendar (255th in leap years). ... Jump to: navigation, search 1789 was a common year starting on Thursday (see link for calendar). ... The old and new ten dollar bill The U.S. ten dollar bill ($10) is a denomination of United States currency. ...


Operating units

The following 12 bureaus contain 98% of Treasury employees and carry out the Treasury's assigned operations:

Effective January 24, 2003 the Bureau of Alcohol, Tobacco and Firearms was no longer a Bureau of the Department of the Treasury. The law enforcement functions of ATF have been transferred to the Department of Justice. The tax and trade functions of the Bureau of Alcohol, Tobacco and Firearms remained with Treasury at the new Alcohol and Tobacco Tax and Trade Bureau. The Alcohol and Tobacco Tax and Trade Bureau, shortened to Tax and Trade Bureau or TTB, is a part of the United States Department of the Treasury. ... BEP Annual Production Figures Categories: U.S. Dept. ... The Bureau of Public Debt is an agency of the Treasury Department, located in Parkersburg, West Virginia, that borrows money needed to operate the Federal Government and accounts for the resulting debt. ... Jump to: navigation, search Established through the Reigle Community Development and Regulatory Improvement Act of 1994, the Community Development Financial Institutions Fund, or CDFI Fund, promotes economic revitalization in distressed communities throughout the U.S. by providing financial assistance and information to community development financial institutions (CDFI). ... The Financial Crimes Enforcement Network (FinCEN) maintains a comprehensive database of financial records created in 1990 as an arm of the United States Department of the Treasury to combat money laundering. ... Inspector General is a fact finding officer whose responsibility is to investigate charges of corruption, fraud, waste and abuse and other complaints regarding government officials. ... The Internal Revenue Service (IRS) is the United States government agency that collects taxes and enforces the tax laws. ... The United States Office of the Comptroller of the Treasury was established in 1863 and serves to charter, regulate and supervise all National banks and the federal branches and agencies of foreign banks. ... The Office of Thrift Supervision (OTS), an agency in the U.S. Treasury Department, is the primary regulator of federal savings associations (sometimes called federal thrifts). Federal savings associations include both federal savings banks and federal savings & loans. ... Jump to: navigation, search Mrs. ... Jump to: navigation, search January 24 is the 24th day of the year in the Gregorian Calendar. ... Jump to: navigation, search 2003 (MMIII) is a common year starting on Wednesday of the Gregorian calendar. ... The Bureau of Alcohol, Tobacco, Firearms and Explosives (BATFE or ATFE) is a law enforcement agency within the United States Department of Justice. ... Justice Department redirects here. ...


On March 1, 2003 the Federal Law Enforcement Training Center, the United States Customs Service, and the United States Secret Service moved to the United States Department of Homeland Security. Jump to: navigation, search March 1 is the 60th day of the year in the Gregorian calendar (61st in leap years). ... Jump to: navigation, search 2003 (MMIII) is a common year starting on Wednesday of the Gregorian calendar. ... The Federal Law Enforcement Training Center (FLETC) serves as an interagency law enforcement training organization for 82 United States Federal agencies. ... The United States Customs Service (now part of U.S. Customs and Border Protection or CBP) was the portion of the US Federal Government dedicated to keeping illegal products outside of US borders. ... Jump to: navigation, search The United States Secret Service (often abbreviated S.S.) is a United States federal government law enforcement agency that is part of the United States Department of Homeland Security (prior to the founding of that department in 2003, it was under the United States Department of... The United States Department of Homeland Security (DHS) is a Cabinet department of the federal government of the United States that is concerned with protecting Americas people from harm and its property from damage. ...


Under the Secretary's direct supervision are the departmental offices, which are responsible for management and policy formulation.

  • Domestic Finance
  • Economic Policy
  • General Counsel
  • Information and Technology Management
  • International Affairs
  • Management
  • Public Affairs
  • Tax Policy
  • Terrorism and Financial Intelligence (TFI)
  • Treasurer of the United States

The Office of the General Counsel for the Department of the Treasury is charged with supervising all legal proceedings involving the collection of debts due the United States, establishing regulations to guide customs collectors, issuing distress warrants against delinquent revenue collectors or receivers of public money, examining Treasury officers' official bonds and related legal documents, serving as legal adviser to the department and administered lands acquired by the United States in payment for debts. This office was preceded by the offices of the Comptroller of the Treasury (1789-1817), First Comptroller of the Treasury (1817-20), Agent of the Treasury (1820-30) and Solicitor of the Treasury 1830-1934. The Comptroller of the Treasury is a U.S. federal government official who examines accounts and signs drafts. ... The Comptroller of the Treasury is a U.S. federal government official who examines accounts and signs drafts. ...


External link

United States Federal Executive Departments Flag of the United States
State | Treasury | Defense | Justice | Interior | Agriculture | Commerce | Labor | Health and Human Services | Housing and Urban Development | Transportation | Energy | Education | Veterans Affairs | Homeland Security

(Past departments: War | Navy | Post Office | Commerce and Labor | Health, Education, and Welfare) The United States Federal Executive Departments are among the oldest primary units of the executive branch of the federal government of the United States—the Departments of State, War, and the Treasury all being established within a few weeks of each other in 1789. ... Image File history File links Flag_of_the_United_States. ... The United States Department of State, often referred to as the State Department, is the Cabinet-level foreign affairs agency of the United States government, equivalent to foreign ministries in other countries. ... The United States Department of Defense, abbreviated as DoD or DOD and sometimes called the Defense Department is a civilian Cabinet organization of the United States government. ... Justice Department redirects here. ... The United States Department of the Interior (DOI) is a Cabinet department of the United States government that manages and conserves most federally-owned land. ... Jump to: navigation, search The United States Department of Commerce is a Cabinet department of the United States government concerned with promoting economic growth. ... The United States Department of Health and Human Services, often abbreviated HHS, is a Cabinet department of the United States government with the goal of protecting the health of all Americans and providing essential human services. ... The United States Department of Housing and Urban Development, often abbreviated HUD, is a Cabinet department of the United States government. ... Jump to: navigation, search The United States Department of Veterans Affairs (VA) is a Cabinet department of the United States government responsible for administering programs of veterans benefits for veterans, their families, and survivors. ... The United States Department of Homeland Security (DHS) is a Cabinet department of the federal government of the United States that is concerned with protecting Americas people from harm and its property from damage. ... The United States Department of War was the military department of the United States governments executive branch from 1789 until 1949, when it became part of the United States Department of Defense. ... Seal The United States Department of the Navy was established by an Act of Congress on April 30, 1798, to provide administrative and technical support, and civilian leadership to the United States Navy. ... The Post Office Department was the former name of the United States Postal Service when it was a cabinet department. ... The United States Department of Commerce is a Cabinet department of the United States government concerned with promoting economic growth. ... The United States Department of Health, Education and Welfare (also known as HEW) was a cabinet level department of the United States government from 1953 until 1979. ...


  Results from FactBites:
 
U.S. Treasury - Offices (502 words)
The Treasury Offices are composed of divisions headed by Assistant Secretaries and Under Secretaries who are primarily responsible for policy formulation and overall management of the Treasury Department.
The General Counsel also is the head of the Treasury Legal Division, a separate bureau within the Department that includes all legal counsels of the Treasury Department and their staff.
Treasury Inspector General for Tax Administration (TIGTA) provides leadership and coordination and recommends policy for activities designed to promote economy, efficiency, and effectiveness in the administration of the internal revenue laws.
United States Department of the Treasury - Wikipedia, the free encyclopedia (542 words)
The United States Department of the Treasury is a Cabinet department, a treasury, of the United States government established by an Act of U.S. Congress in 1789 to manage the revenue of the United States government.
It is administered by the United States Secretary of the Treasury and the Treasurer of the United States who receives and keeps the monies of the United States.
This office was preceded by the offices of the Comptroller of the Treasury (1789-1817), First Comptroller of the Treasury (1817-20), Agent of the Treasury (1820-30) and Solicitor of the Treasury 1830-1934.
  More results at FactBites »

 
 

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