It 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.

[9] The department is customarily referred to as "Treasury", solely, without any preceding article – a transitional remnant from British to American English.

[10] The history of the Department of the Treasury began in the turmoil of the American Revolution, when the Continental Congress at Philadelphia deliberated the crucial issue of financing a war of independence against Great Britain.

The delegates resolved to issue paper money in the form of bills of credit, promising redemption in coin on faith in the revolutionary cause.

[11] Despite the infusion of foreign and domestic loans, the united colonies were unable to establish a well-organized agency for financial administration.

The office has, since the late 18th century, been customarily referred to as the singular "Treasury", without any preceding article, as a remnant of the country's transition from British to American English.

His staff included a comptroller, a treasurer, a register, and auditors, who managed the country's finances through 1784, when Morris resigned because of ill health.

Hamilton's financial and managerial acumen made him a logical choice for addressing the problem of the new nation's heavy war debt.

"[16] Hamilton foresaw the development of industry and trade in the United States, suggesting that government revenues be based upon customs duties.

[16] His sound financial policies also inspired investment in the Bank of the United States, which acted as the government's fiscal agent.

In 1862, she prevented a major theft from the department of more than $200,000 when she came across a box filled with U.S. currency, including a number of thousand-dollar bills, and reported it to Secretary Spinner.

U.S. President Abraham Lincoln subsequently honored her with a commendation for her actions, and the federal government rewarded her with an appointment for life as a messenger with its Department of Issues.

The budget authorization is broken down as follows:[38] In the latest Center for Effective Government analysis of the fifteen federal agencies that receive the most Freedom of Information Act FOIA requests, published in 2015 (using 2012 and 2013 data, the most recent years available), the treasury failed to earn a satisfactory overall grade.