Treasury Department
The U.S. economy is more connected than ever before to the economies of other nations. The secretary of the treasury is the chief financial officer of the federal government. He is the manager of a team of more than 100,000 employees, including those in the U.S. Department of the Treasury. According to the treasury department Web site, online at
Treasury employees receive benefits such as flexible work schedules, health- and fitness-club memberships, emergency child care, and tuition assistance. The mission statement of the treasury is “to promote the conditions for prosperity and stability in the United States and encourage prosperity and stability in the rest of the world.”
The U.S. Department of the Treasury is the federal agency that is responsible for the economic and financial prosperity and security of the United States. Its activities include advising the president on economic and financial issues and promoting the president's agenda. In the international realm, the treasury department works with other federal agencies, the governments of other nations, and international financial institutions to promote economic growth, raise the standards of living, and predict and hopefully prevent economic crises.
Fact
The treasury department was created in 1789 by an act of Congress. The department's first secretary was Alexander Hamilton. In 1814, during the War of 1812, the British burned the treasury building. It was rebuilt by White House architect James Hoban. Twenty years later, American arsonists burned the treasury building again. Portions of the current treasury building date back to 1842.
The treasury department is organized into two major divisions:departmental offices and operating bureaus. The departmental offices are responsible for policy-making and management, while the operating bureaus carry out the specific operations assigned to the department. The operating bureaus comprise 98 percent of the treasury workforce. The basic functions of the treasury include the following:
Managing federal finances
Collecting taxes and other money paid to and due to the United States and paying all bills of the United States
Printing postage stamps and currency
Managing government accounts
Supervising national banks
Advising on domestic and international financial, monetary, economic, trade, and tax policy
Enforcing federal finance and tax laws
Investigating and prosecuting tax evaders, counterfeiters, and forgers
The treasury department states that it provides a work environment “that relies on open communication and respect of every individual contribution. By promoting a workplace that is fair and values-based, we hold our employees to the highest standards of trust and accountability so that we can give the American people our best.”
