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When was the Treasury Department invented?

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.

Who created the Treasury Department?

At the inauguration of the constitutional government in 1789 Alexander Hamilton (1757- 1804), George Washingtons former military aide and a renowned financier, was appointed the first Secretary of the Treasury and thus he became the architect of the structure of the Department.

When was the Department of the Treasury created?

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.

Who ran the Department of Treasury?

Janet Yellen is the Secretary of the Treasury.

How does the Department of Treasury affect me?

The Department of the Treasury manages Federal finances by collecting taxes and paying bills and by managing currency, government accounts and public debt.

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Why was the Department of Treasury created?

To ensure proper and efficient handling of the growing national debt in the face of weak economic and political ties between the colonies, the Congress, on February 17, 1776, designated a committee of five to superintend the Treasury, settle the accounts, and report periodically to the Congress.

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