September 2, 1779
TREASURY DEPARTMENT FOUNDED
New York City (JFK+50) Today President George Washington announced the founding of the United States Department of the Treasury.
The newest department of the Executive Branch of the government of the United States created by the Constitution of the United States of America will be responsible for collecting federal taxes & managing federal debt instruments.
The Treasury Department will also direct the minting of the coinage of the United States of America as well as the printing of paper currency.
President Washington is expected to name the 1st Secretary of the Department of the Treasury later this month.
It is rumored that the President will offer the post to Robert Morris of New York.*
*On September 11, 1789, Alexander Hamilton was named the 1st Secretary of the Treasury & sworn into office on that date. He would propose a plan for reviving the nation’s economy as well as funding the national debt.
THE TREASURY BUILDING
The headquarters of today’s United States Treasury Department is the Treasury Building in the Nation’s Capital which was built beginning in 1836 & designed by architect Robert Mills.
The Treasury Building is located at 1500 Pennsylvania Avenue, NW.
The statue of Alexander Hamilton in front of the Treasury Building was done by James Earle Fraser.
SECRETARY C. DOUGLAS DILLON
President John F. Kennedy appointed C. Douglas Dillon as his Secretary of Treasury.
Mr. Dillon, who was born in 1909, like JFK was a graduate of Harvard University as well as a World War II veteran of the United States Navy.
The Secretary was a Republican who worked in Dwight D. Eisenhower’s 1952 Presidential campaign & was appointed ambassador to France in 1953.*
*The current 75th Secretary of Treasury serving under President Obama is Timothy Geithner.