Treasury: Wikis

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From Wikipedia, the free encyclopedia

Not to be confused with The Treasury

A treasury is any place where the currency or items of high monetary value (rubies, diamonds, etc.) are kept. The term was first used in Classical times to describe the votive buildings erected to house gifts to the gods, such as the Siphnian Treasury in Delphi or many similar buildings erected in Olympia, Greece by competing city-states to impress others during the ancient Olympic Games. In Ancient Greece treasuries were almost always physically incorporated within religious buildings such as temples, thus making state funds sacrosanct and adding moral constraints to the penal ones to those who would have access to these funds.

The head of a Treasury is typically known as a Treasurer. This position may not necessarily have the final control over the actions of the Treasury particularly if they are not an elected representative.

Contents

Examples of treasuries

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Treasury

In the United Kingdom, Her Majesty's Treasury is overseen by the Chancellor of the Exchequer. The traditional honorary title of First Lord of the Treasury is held by the Prime Minister. Her Majesty's Revenue and Customs administers the taxation system.

In the United States, the Treasurer reports to an executive-appointed Secretary of the Treasury. The IRS is the revenue agency of the US Department of Treasury.

Ministry of Finance

In many other countries, the treasury is called the Ministry of Finance and the head is known as the Finance Minister. Examples include New Zealand, Canada, Malaysia, Singapore, Bangladesh, India and Japan.

In some other countries, a "Treasury" will exist alongside a separate "Ministry of Finance", with divided functions.

Both

In Australia a Treasurer and a Finance Minister co-exist. The Treasury is responsible for drafting the government budget, economic policy (except monetary policy), some market regulation and revenue policy (which is administed by the Australian Taxation Office). The Finance Minister, who manages the Department of Finance and Deregulation is responsible for government administration, government expenditure, and some market deregulation.

The government of Poland includes the Ministry of Finance as well as the Ministry of State Treasury. It was the same in Italy before the creation of the united Ministry of Economy.

See also


1911 encyclopedia

Up to date as of January 14, 2010

From LoveToKnow 1911

TREASURY, a place for the storage of treasure (Fr. tresor, Lat. thesaurus, Gr. 6rtaaupos, store, hoard); also that department of a government which manages the public revenue. The head of the department was an important official in the early history of English institutions. He managed the king's hoard or treasury, and under the Med. Latin name of thesaurarius, i.e. treasurer, grew into increased importance in times when the main object of government seemed to be to fill the king's purse. He received the title of lord high treasurer and ranked as the third great officer of state. In course of time the English treasury grew into two departments of state (see Exchequer). Since 1714 the office of lord high treasurer has been in commission, and his duties have been administered by a board, consisting of a first lord, a chancellor and four or more junior lords. The board itself never meets, except on extraordinary occasions, although until the commencement of the 19th century it was its practice to meet almost daily to discuss matters of financial detail. There were originally separate treasury boards for England, Scotland and Ireland, but the English and Scottish were united by the act of union, and that of Ireland was joined with the English in 1816. The first lord of the treasury (see Ministry) takes practically no part in the duties of the board.

the office being to all intents and purposes a sinecure; it is usually held by the prime minister of the day. Indeed from 1783 to 1885 it was invariably so held, but in the latter year there was a departure from the practice, and again in 1887, 1891 and 1895. The junior lords of the treasury are also political rather than financial officers, acting as assistant whips in the House of Commons. There are two joint secretaries to the treasury, one of whom, the patronage secretary, is merely a political officer, acting as chief whip; the other is termed financial secretary and is the chancellor of the exchequer's chief assistant. All the above officers are members of the House of Commons and of the government. The salaries of the first lord of the treasury and of the chancellor of the exchequer are £5000 per annum; of the joint secretaries £ 2000 per annum each; of three of the junior lords boon per annum each, the other junior lords being unpaid. The vast bulk of the work of the treasury department is performed by the permanent staff, at whose head is the permanent secretary and auditor of the civil list, with a salary of £2500 per annum. The chancellor of the exchequer (see Ministry), as finance minister of the Crown, is the officer who is responsible to parliament for the carrying out of the business of the treasury. He performs practically the ancient duties of under-treasurer and presents the annual budget of revenue and expenditure.

The treasury department of the United States is responsible for the finances of the government and the control of the currency. Its genesis was a treasury office of accounts established in 1776 for the purpose of examining and auditing accounts. In 1779 it was reorganized, but was abolished in 1781, on the election of Robert Morris as superintendent of finances, and in 1789 the present executive department of the treasury was established by act of Congress. Its scope is more varied and complex than that of any other United States government department. It is presided over by a secretary, who is a member of the cabinet and has a salary of $1 2,000 per annum. He is assisted by three assistant secretaries, two of them having salaries of $. 000 and the third a salary of $450o. The treasury department looks after the revenue administration of the United States, and has for this purpose a customs service division and an internal revenue division. There is also the division of the treasury, in the strictest sense of the word; bureaus of auditing and accounting, of currency and of banking and certain miscellaneous bureaus, as the life-saving service, the public health and marine hospital service, the supervising architect and the bureau of engraving and printing.


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Wiktionary

Up to date as of January 15, 2010

Definition from Wiktionary, a free dictionary

See also treasury

English

Noun

Treasury

  1. a government department responsible for the collection, management, and expenditure of the public revenue

Bible wiki

Up to date as of January 23, 2010

From BibleWiki

(Mt 27:6; Mk 12:41; Jn 8:20). It does not appear that there was a separate building so called. The name was given to the thirteen brazen chests, called "trumpets," from the form of the opening into which the offerings of the temple worshippers were put. These stood in the outer "court of the women." "Nine chests were for the appointed money-tribute and for the sacrifice-tribute, i.e., money-gifts instead of the sacrifices; four chests for freewill-offerings for wood, incense, temple decoration, and burnt-offerings" (Lightfoot's Hor. Heb.).

This entry includes text from Easton's Bible Dictionary, 1897.

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