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United States Department of the Treasury

1789 establishments in the United StatesFinance ministriesFinancial regulatory authorities of the United StatesMinistries established in 1789Robert Mills buildings
United States Department of the TreasuryUnited States federal executive departmentsUse mdy dates from February 2021
Seal of the United States Department of the Treasury
Seal of the United States Department of the Treasury

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 coins, while the treasury executes its 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.Established by an Act of Congress in 1789 to manage government revenue, the first secretary of the treasury was Alexander Hamilton, sworn into office on September 11. 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 office is thus 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. The current secretary of the treasury is Janet Yellen, who was confirmed by the United States Senate on January 25, 2021. Jovita Carranza, appointed on April 28, 2017, was the incumbent treasurer, until January 15, 2020, when she left the office.

Excerpt from the Wikipedia article United States Department of the Treasury (License: CC BY-SA 3.0, Authors, Images).

United States Department of the Treasury
Pennsylvania Avenue Northwest, Washington

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Geographical coordinates (GPS)

Latitude Longitude
N 38.898333333333 ° E -77.034166666667 °
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Address

United States Department of the Treasury

Pennsylvania Avenue Northwest 1500
20006 Washington
District of Columbia, United States
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Seal of the United States Department of the Treasury
Seal of the United States Department of the Treasury
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Nearby Places

Freedman's Bank Building
Freedman's Bank Building

The Freedman's Bank Building, previously known as the Treasury Annex, is a historic office building located on the corner of Madison Place and Pennsylvania Avenue NW in Washington, D.C. It sits on the east side of Lafayette Square, a public park on the north side of the White House, and across from the Treasury Building. The adjoining properties include the Howard T. Markey National Courts Building to the north and former Riggs National Bank to the east. The current building is the third constructed on the site. The first, a house built in 1831, was later seized by the federal government during the Civil War. It was demolished and replaced with the elaborately decorated headquarters of Freedman's Savings Bank, established by Congress in 1865 for recently emancipated slaves and freedmen. Despite the bank's initial success, the combination of mismanagement, fraud, and the Panic of 1873 resulted in the bank's failure and closure in 1874. Over 60,000 African Americans collectively lost the equivalent of $75 million. This caused a distrust of the government and banks for many generations. The third and present building to be constructed on the site was the Treasury Annex, designed by Cass Gilbert in the Beaux-Arts style and completed in 1919. It was the first large federal building planned as part of a massive redevelopment of Lafayette Square. The McMillan Plan, which called for the demolition of all buildings on Madison Place and Jackson Place, was only partially completed in the Lafayette Square area. The other completed building, the U.S. Chamber of Commerce Building, was also designed by Gilbert. The initial plan of eventually expanding the Treasury Annex to H Street NW never happened due to several factors. The construction of Federal Triangle, the work of early historic preservationists, and assistance from President John F. Kennedy and First Lady Jacqueline Kennedy, meant several of the historic buildings on Madison Place were never demolished and the Annex was never expanded. The Annex was renamed the Freedman's Bank Building in 2016 to mark the importance of the site's history. The Freedman's Bank Building is a contributing property to the Lafayette Square Historic District, a National Historic Landmark, and to the Fifteenth Street Financial Historic District. It is also listed on the District of Columbia Inventory of Historic Sites. The Office of Foreign Assets Control, the Treasury Library, and the main branch of the Treasury Department Federal Credit Union are housed in the building.