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History of the Treasury


Treasury's Historical calendar

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August 1
1789 -- The first U.S. tariff act went into effect. It established a policy of protection.

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August 2
1886 -- The Oleomargarine Act established the Bureau of Alcohol, Tobacco and Firearms (ATF) laboratory system.
1909 -- The Lincoln Cent was issued to replace the Indian Head Cent.

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August 3
1954 -- W. Randolph Burgess became the first Under Secretary for Monetary Affairs.

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August 4
1790 -- Congress authorized the first U.S. Government securities.
1979 -- Secretary of the Treasury W. Michael Blumenthal ended his term as the 64th Secretary.

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August 5
1861 -- The first income tax was levied by the Revenue Act on all income over $800.

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August 6
1846 -- Secretary of the Treasury Robert J. Walker reenacted the Independent Treasury System and introduced a warehousing system for imports that is still in use today.
1979 -- Secretary of the Treasury G. William Miller started his term as the 65th Secretary.

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August 7
1794 -- Farmers rebelled against the Whiskey Tax and Washington called up Federal troops to suppress the Whiskey Rebellion.

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August 8
1831 -- Secretary of the Treasury Louis McLane started his term as the 10th Secretary.
1951 -- The United States Customs Service was charged with enforcing sections of the Fur Products Labeling Act.

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August 9
1842 -- The Webster-Ashburton Treaty was signed in the old State Department building, which was later demolished for the Main Treasury Building's north wing.

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August 10
1965 -- Nine Customs regions were created.

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August 11
1948 -- The President was authorized to execute the U.S.-U.N. Loan Agreement for the United Nations headquarters.
1995 -- Lawrence H. Summers was sworn in as Deputy Secretary of the Treasury.

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August 12
1849 -- Former Secretary of the Treasury Albert Gallatin, who served for 13 years, the longest as Secretary, died in Long Island, New York.

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August 13
1981 -- The Economic Recovery Tax Act was enacted. It reduced individual income taxes by 23 percent, lowered estate taxes, and introduced indexing into the tax system.

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August 14
1935 -- The Social Security Act was signed into law.

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August 15
1971 -- The value of the dollar was allowed to float and the first peacetime price and wage controls were instituted.
1986 -- The first Treasury securities were issued under the Treasury Direct computerized book-entry system.

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August 16
1841 -- A riot at the White House over President Tyler's veto of the third Bank of the United States led to formation of the District of Columbia police force.

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August 17
1877 -- The number of relatives employed in each Internal Revenue Service district was limited.
1988 -- Secretary of the Treasury James A. Baker, III ended his term as the 67th Secretary.

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August 18
1925 -- The Debt Funding Agreement with Belgium was executed.
1966 -- Production of $100 Federal Reserve notes bearing the motto In God We Trust began.

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August 19
1785 -- Congress authorized the Treasury Board to fix standard weights and measures for the United States.

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August 20
1925 -- A Committee was appointed to study the design of currency notes.

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August 21
1862 -- Fractional Currency, also known as postage currency, was issued in 5-cent, 10-cent, 25-cent and 50-cent notes. The third issue also included a 3-cent note.
1909 -- Secretary of the Treasury C. Douglas Dillon was born in Geneva, Switzerland.

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August 22
1862 -- Processing of one- and two-dollar Treasury notes was athorized.

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August 23
1884 -- Secretary of the Treasury Ogden L. Mills was born in Newport, Rhode Island.
1935 -- The Banking Act of 1935 removed the Secretary of the Treasury and the Comptroller of the Currency from the Federal Reserve Board.

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August 24
1814 -- The British burned the Main Treasury Building and dined by its light across the street in Rhodes Tavern.
1966 -- Production of $50 Federal Reserve notes bearing the motto In God We Trust began.

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August 25
1774 -- The North Carolina convention resolved to boycott British goods.

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August 26
1842 -- A Fiscal Year of July 1 through June 30 was established for the Treasury Department.

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August 27
1937 -- Former Secretary of the Treasury Andrew Mellon died in Southempton, Long Island, New York.
1979 -- The Taxpayer Ombudsman position was established in the Internal Revenue Service to serve as taxpayers' advocate in resolving problems.

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August 28
1933 -- An Executive Order regulated the hoarding and exporting of gold. It prohibited holding of gold by United States citizens.

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August 29
1861 -- The first United States currency was produced by the Treasury Department in the basement of the Main Treasury Building.
1938 -- Secretary of the Treasury Robert E. Rubin was born in New York City.

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August 30
1842 -- The United States Customs Service was charged with enforcing the first federal pornography law. The Tariff Act prohibited the import of indecent and obscene material.

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August 31
1839 -- The Main Treasury Building was ready for partial occupancy. It was designed by Robert Mills, and is one of the finest examples of Greek Revival architecture in America.
1935 -- The Neutrality Act was signed into law.

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