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What are some facts about the U.S. Department of the Treasury?

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Quick Answer

The U.S. Department of Treasury manages the nation's money. According to its website, it is concerned with regulating national banks, determining international economic policy, collecting income and excise taxes, and issuing securities. It also reports the government's daily financial transactions and manufactures coins and bills for circulation.

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Full Answer

Congress established the Department of Treasury on Sept. 2, 1789. The first Secretary of the Treasury was Alexander Hamilton.

The main building of the Department of Treasury is located at 1500 Pennsylvania Avenue, NW, in Washington, D.C. It is the oldest departmental building in the capitol. Its famous rooms include the Salmon P. Chase Suite, Secretary's Conference and Diplomatic Reception Room and Andrew Johnson Suite. It is equipped with a burglar-proof vault and a cash room. The building served as barracks during the Civil War. President Andrew Johnson also lived there for a time after the assassination of President Abraham Lincoln.

Within the Treasury, the Bureau of Engraving and Printing is in charge of printing paper money. It has facilities in Washington, D.C. and Fort Worth, Texas.

Headquartered in Washington, D.C., the U.S. Mint mints coins and has mint facilities in Philadelphia, Denver, San Francisco and West Point. There is also a bullion depository in Fort Knox, Kentucky.

The Internal Revenue Service, which falls under the Department of Treasury, collects federal taxes.

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