Department of Treasury: Hard Money
The Department of the Treasury is an executive department and the treasury of the United States federal government. It was established by an Act of Congress in 1789 to manage government revenue. The Department is administered by the Secretary of the Treasury, who is a member of the Cabinet. The basic functions of the Department of the Treasury include:
- Managing federal finances.
- Collecting taxes, duties and monies paid to and due to the U.S. and paying all bills of the U.S.
- Producing all postage stamps, currency, and coinage.
- Managing government accounts and the United States public debt.
- Supervising national banks and thrift institutions.
- Advising on domestic and international financial, monetary, economic, trade and tax policy - fiscal policy being the sum of these, and the ultimate responsibility of Congress.
- Enforcing Federal finance and tax laws.
- Investigating and prosecuting tax evaders, counterfeiters, forgers, smugglers, illicit spirits distillers, and gun law violators.
The Department of Treasury is constitutional and necessary for any government. It should be printing commodity-backed hard money and working tirelessly to maintain a safe and steady money supply. However, the Federal Reserve System has currently taken over these tasks of the Treasury Department.