The management of the money resources of the United States has always been the primary function of the Department of the Treasury.
Whether it is regulating national banks, determining international economic policy, collecting income and excise taxes, issuing securities, reporting the government’s daily financial transactions, or manufacturing coins or bills for circulation, the one concern that still ties together the activities of the Department of the Treasury is money.
Though formally established as an executive department by the First Session of Congress in 1789, many functions of the Department of the Treasury were being carried out even before the signing of the Declaration of Independence thirteen years earlier. Over the decades, the functions of the Department have expanded and grown more sophisticated to meet the needs of a developing nation.
Today, the Department of the Treasury remains the premier financial institution of the United States with a full-time agenda of accounting, revenue collection, money production, and economic policy formulation.
This news item was originally published by the US Department of the Treasury (UST US). For more information, please see the Source Link.