Questions about United States Department of the Treasury
Short answers, pulled from the story.
When was the United States Department of the Treasury established?
The Department of the Treasury was established on the 2nd of September 1789, when the First United States Congress enacted legislation creating a permanent institution for the management of government finances. Alexander Hamilton was sworn in as the first Secretary of the Treasury on the 11th of September 1789.
Who was the first Secretary of the Treasury?
Alexander Hamilton was the first Secretary of the Treasury, taking the oath of office on the 11th of September 1789. He had served as George Washington's aide-de-camp during the Revolutionary War, and Washington's original first choice, Robert Morris, declined the appointment and recommended Hamilton.
Who was the first woman employed by the US Treasury Department?
Sophia Holmes was the first Black woman employed by the Treasury Department and by the entire federal government, hired in 1861 as a janitor under Secretary of the Treasury Francis Spinner at a salary of fifteen dollars per month. In 1862, she prevented a theft of more than two hundred thousand dollars by discovering a box of currency and reporting it to Spinner, for which President Abraham Lincoln honored her with a commendation.
What happened to the Continental dollar issued by the Treasury during the American Revolution?
The two hundred and forty-one and a half million dollars in paper Continental bills issued during the Revolutionary War devalued rapidly. By May 1781, the Continental dollar had collapsed to a rate of between 500 and 1000 to 1 against hard currency, giving rise to the expression "not worth a Continental."
What agencies were transferred out of the Treasury Department after September 11?
Following the September 11 attacks, the Bureau of Alcohol, Tobacco and Firearms had its law enforcement functions transferred to the Department of Justice, effective the 24th of January 2003. The Federal Law Enforcement Training Center, the U.S. Customs Service, and the U.S. Secret Service all moved to the newly created Department of Homeland Security, effective the 1st of March 2003.
What is the Treasury Department's budget for Fiscal Year 2024?
The Treasury Department's authorized budget for Fiscal Year 2024 is sixteen and a half billion dollars. The Internal Revenue Service accounts for the largest share at over twelve billion dollars, with international programs receiving just over two billion dollars.