Treasury Department

“ Under existing legislation it is in the power of the Treasury Department to maintain that essential condition of national finance as well as of commercial prosperity—the parity in use of the coined dollars and their paper representatives. The assurance that these powers would be freely and unhesitatingly used has done much to produce and sustain the present favorable business conditions. ”

“ An act to authorize the proper officers of the Treasury Department to credit the account of the Treasurer of the United States with the amount of the unavailable funds standing to his debit on the books of the Treasury, to transfer the amount of the debit of banks and individuals indebted for the same, and to authorize the Secretary of the Treasury to compromise and settle said claims. ”

“ The question is whether this statute precludes the subjection of the deputy internal revenue collectors to the civil service rules. The Administration contends on the authority of “the highest legal opinion the Treasury Department could get,” that it does. ”

“ Stat. 1913, § 368) , it was provided that 'all claims and demands whatever, by the United States or against them, and all accounts whatever, in which the United States are concerned, either as debtors or as creditors, shall be settled and adjusted in the Treasury Department.' This provision was carried into § 236 of the Revised Statutes (Comp. Stat. 1913, § 368) . The words 'settled and adjusted' were taken to mean the determination in the Treasury Department for administrative purposes of the state of the account and the amount due. See 2 Ops. Atty. Gen. ”

“ We see no good reason for disturbing the long-settled practice of the Treasury Department. Its contemporary interpretation is consistent with the language of the act; and its practice was, in substance, embodied in the Revenue Act of 1918, February 24, 1919, c. ”

“ Eventually most every bill finds its way back to the Treasury after a life of from two to four years, except those that are lost, or destroyed in fires, etc. It is an almost impossible task to recall them all, yet the number that are withdrawn provide work for a large department in the Treasury Building at Washington. If one passes through the corridors and should glance into this room, he will see a lot of girls busily counting bundles of dirty greenbacks of all denominations. ”

“ As usual the nominations made by the President for Cabinet offices were promptly ratified by the Senate without being referred to any committee. But after this had been done, it was remembered and reported to President Grant, that one of the nominees so confirmed, Mr. A. T. Stewart, of New York, whom President Grant had selected for the Secretaryship of the Treasury, as a person engaged in commerce, was disqualified by one of the oldest laws on the statute book—in fact, the act of September 2, 1789, establishing the Treasury Department. ”

“ An aluminum alloy cent is preferred when compared with other candidate materials including the currently utilized 95 percent copper - 5 percent zinc alloy for the following reasons:
1. In recent weeks the market price of copper has increased to more than $1.00 per pound and the Treasury Department's seigniorage* on one-cent coins is seriously threatened. An annual savings in raw materials exceeding $35 million would be realized at current penny production levels if an aluminum alloy were used for one-cent coins. ”

“ Funds made available by this or any other Act to the Internal Revenue Service shall be available for improved facilities and increased staffing to provide sufficient and effective 1-800 help line service for taxpayers. The Commissioner shall continue to make the improvement of the Internal Revenue Service 1-800 help line service a priority and allocate resources necessary to increase phone lines and staff to improve the Internal Revenue Service 1-800 help line service. ”

“ Whenever the Secretary of the Treasury determines that the use of copper in the one-cent piece is no longer practicable, he may change the alloy of the one-cent piece to not less than 96 per centum of aluminum and such other metals as he shall determine. ”

“ In order to minimize the possibility of a cent shortage without expending large sums for new processing machinery, the selected substitute material must be readily fabricated into pennies using equipment which is presently in operation at the Bureau of the Mint's coining facilities.
It is also desirable J as a simple matter of efficiency, to minimize the cost of manufacturing coins of acceptable quality. It is axiomatic that the Treasury should seek to achieve the lowest possible total coinage cost, inclusive of materials used. ”