The Treasurer of the United States receives and keeps its moneys,
disburses them on the Secretary's warrants, and manages the Independent
Treasury System. The Independent or Sub-Treasury System was adopted by
Congress in 1846. By this means the Treasury Department is independent
of the banking system of the country; but has established sub-treasuries
in the principal cities of the Union for the receipt and disbursement of
public moneys. There are sub-treasuries in New York, San Francisco,
Saint Louis, Chicago, Boston, Philadelphia, Baltimore, New Orleans and
Cincinnati. For greater convenience moneys are also deposited at certain
designated banks. Secretary Windom, however, began rapidly removing such
deposits from the banks and announced his intention to cease the placing
of deposits with any bank.
The Register of the Treasury is the official book-keeper of the United
States. The Commissioners of Customs and of Internal Revenue have charge
respectively of the collection of customs duties and internal revenue
taxes. The Comptroller of the Currency has control of the national
banks. The Chief of the Bureau of Statistics collects and publishes the
statistics of our foreign commerce. In the Bureau of Engraving and
Printing are designed, engraved and printed all government bonds,
national bank notes, drafts, United States notes, etc., for which work
about 1200 persons are employed.
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