History
The establishing act of congress, passed in 1789, read in part,
| “ | ...it shall be the duty of the Secretary of the Treasury ...to execute such services relative to the sale of the lands belonging to the United States, as may be by law required of him; to make report, and give information to either branch of the legislature, in person or in writing (as he may be required), respecting all matters referred to him by the Senate or House of Representatives, or which shall appertain to his office; and generally to perform all such services relative to the finances, as he shall be directed to perform. | ” |
The current law, 31 U.S.C. § 301, reads as follows (in part):
| “ | (a) The Department of the Treasury is an executive department of the United States Government at the seat of the Government.
(b) The head of the Department is the Secretary of the Treasury. The Secretary is appointed by the President, by and with the advice and consent of the Senate. |
” |
President George Washington appointed Alexander Hamilton as the first United States Secretary of the Treasury on September 11, 1789. He left office on the last day of January 1795. Much of the structure of the government of the United States was worked out in those five years, beginning with the structure and function of the cabinet itself.
In the next two years, Hamilton submitted five reports:
- First Report on the Public Credit: Communicated to the House of Representatives, January 14, 1790.
- Operations of the Act Laying Duties on Imports: Communicated to the House of Representatives, April 23, 1790.
- Second Report on Public Credit – Report on a National Bank. Communicated to the House of Representatives, December 14, 1790.
- Report on the Establishment of a Mint: Communicated to the House of Representatives, January 28, 1791.
- Report on Manufactures: Communicated to the House of Representatives, December 5, 1791.
Read more about this topic: United States Department Of The Treasury
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