History
The Ministry has existed in form since the 15th Century during the Ayutthaya Kingdom. Then the Ministry was called the "Kromma Khlang" (Thai: กรมคลัง) and eventually upgraded to “Krom Phla Khlang” (Thai: กรมพระคลัง) sometimes written as "Berguelang" or "Barcelon" by foreign authors. The "Phla Khlang" or Minister had wide ranging powers include those of taxation, trade, monopolies, tributes and even foreign affairs.
Most of these features were retained during the Rattanakosin era. In 1855 King Mongkut signed the Bowring Treaty with the United Kingdom. The Treaty exposed Siam to modern trade and international commerce; the King was forced to set customs duty rate at no more than three percent; the country was at a disadvantage, but international trade grew. Soon the King was forced to set up a "Customs House" (Thai: ศุลกสถาน) and the Royal Mint to deal with new challenges.
During the reign of King Chulalongkorn the Ministry took its present shape. The King issued a Royal Decree in 1873 consolidating all powers and agencies under one Ministry with a more focused portfolio. He appointed one of his uncle Prince Maha Mala Pamrabporapat as its first Minister. The Ministry finally came into its own in 1933 by the Civil Service Reform Act of 1933. The Royal Treasury Ministry was then changed to the Ministry of Finance which now consists of 10 departments and 14 state enterprises.
Read more about this topic: Ministry Of Finance (Thailand)
Famous quotes containing the word history:
“The history of all hitherto existing society is the history of class struggles.”
—Karl Marx (1818–1883)
“The history of a soldier’s wound beguiles the pain of it.”
—Laurence Sterne (1713–1768)
“Those who weep for the happy periods which they encounter in history acknowledge what they want; not the alleviation but the silencing of misery.”
—Albert Camus (1913–1960)