You make known to me the path of life; in Your presence there is fullness of joy. – Psalm 16:11
Congress established the U.S. Treasury on this day in 1789. It was during the early days of the newly-formed nation that Congress decided to create the organization responsible for managing the nation’s finances and developing its economic policies. The goal was to establish a financial centralized system that would ensure the stability and growth of the economy. Its origins can be traced to 1775 when American leaders sought means to finance the Revolutionary War. While issuing redeemable “bills of credit” as a form of currency, it also resulted in the nation’s first debt. The Continental Congress needed to create ways to regulate the economy. With the ratification of the Constitution in 1789, a permanent Treasury Department was established, and President George Washington appointed Alexander Hamilton, his former aide-de-camp, as the head of this new office.
As the Lord leads, pray with us…
- For discernment for Secretary Janet Yellen as she fulfills this significant role in the Treasury Department.
- For Deputy Secretary Wally Adeyemo as he supports the department’s efforts to manage the nation’s finances.
