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The Treasury Story 1969 US Treasury Department
🕑 Added 2019-11-27 21:35:59 +0000 UTCmore at http://quickfound.net/
'Historical account of establishment. Alexander Hamilton was the first Sec. of Treasury. It was divided into six bureaus: Bureau of Mint, Bureau of Engraving and Printing, Internal Revenue Service, Bureau of Customs, Bureau of Public Debt, Bureau of Accounts...'
Originally a public domain film from the National Archives or Library of Congress Prelinger Archives, slightly cropped to remove uneven edges, with the aspect ratio corrected, and one-pass brightness-contrast-color correction & mild video noise reduction applied.
The soundtrack was also processed with volume normalization, noise reduction, clipping reduction, and/or equalization (the resulting sound, though not perfect, is far less noisy than the original).
https://en.wikipedia.org/wiki/United_States_Department_of_the_Treasury
Wikipedia license: http://creativecommons.org/licenses/by-sa/3.0/
The Department of the Treasury (USDT) is an executive department and the treasury of the United States federal government. Established by an Act of Congress in 1789 to manage government revenue, the Treasury prints all paper currency and mints all coins in circulation through the Bureau of Engraving and Printing and the United States Mint, respectively; 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 no fixed duties, but advises the Secretary on various matters such as coinage and currency production. Signatures of both officials appear on all Federal Reserve notes.
The first Secretary of the Treasury was Alexander Hamilton, sworn into office on September 11, 1789. 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—almost singlehandedly—the nation's early financial system and for several years was a major presence in Washington's administration. His portrait appears on the obverse of the ten-dollar bill, while the Treasury Department building is depicted on the reverse...
Alexander Hamilton took the oath of office as the first Secretary of the Treasury on September 11, 1789. Hamilton had served as George Washington's aide-de-camp during the Revolution and was of great importance in the ratification of the Constitution. Because of his financial and managerial acumen, Hamilton was a logical choice for solving the problem of the new nation's heavy war debt. Hamilton's first official act was to submit a report to Congress in which he laid the foundation for the nation's financial health.
To the surprise of many legislators, he insisted upon federal assumption and dollar-for-dollar repayment of the country's $75 million debt in order to revitalize the public credit: "[T]he debt of the United States was the price of liberty. The faith of America has been repeatedly pledged for it, and with solemnities that give peculiar force to the obligation." Hamilton foresaw the development of industry and trade in the United States, suggesting that government revenues be based upon customs duties. His sound financial policies also inspired investment in the Bank of the United States, which acted as the government's fiscal agent...
