I was showing some of my certified currency to some elderly gentlemen a while back and they were wondering what the difference is between the two titles shown on older and modern currency. These days the two positions are "Treasurer of the United States" and "Secretary of the Treasury". On this gold note it was Register of the Treasury and Treasurer of the United States. On the old Colonial notes there are two signatures presumably for cross verification--is this right?
The Register of the Treasury was an office of the United States Treasury Department. In 1919, the Register became the Public Debt Service, which, in 1940, became the Bureau of Public Debt. The signature of the Register of the Treasury was found on all United States currency until 1923, along with that of the Treasurer of the United States. The Treasurer of the United States is an official in the United States Department of the Treasury that was originally charged with the receipt and custody of government funds, though many of these functions have been taken over by different bureaus of the Department of the Treasury. Responsibility for oversight of the Bureau of Engraving and Printing, the United States Mint, and the United States Savings Bonds Division (now the Savings Bond Marketing Office within the Bureau of Public Dept) was assigned to the Treasurer in 1981. As of 2002 the Office of the Treasurer underwent a major reorganization. The Treasurer now advises the Director of the Mint, the Director of the Bureau of Engraving and Printing, the Deputy Secretary and the Secretary of the Treasury on matters relating to coinage, currency and the production of other instruments by the United States. The Secretary of the Treasury is the principal economic advisor to the President and plays a critical role in policy-making by bringing an economic and government financial policy perspective to issues facing the government. The Secretary is responsible for formulating and recommending domestic and international financial, economic, and tax policy, participating in the formulation of broad fiscal policies that have general significance for the economy, and managing the public debt. The Secretary oversees the activities of the Department in carrying out its major law enforcement responsibilities; in serving as the financial agent for the United States Government; and in manufacturing coins and currency.
Speaking of Secretary of the Treasury, I read an article today that says Geithner would step down if Obama was reelected. Could we be seeing 2009A notes in a couple of years?
Well, the series year is the date the Secretary takes office, so they'd be Series 2013 (or conceivably 2012, but that seems unlikely given the political situation--Geithner wants to get this "fiscal cliff" thing resolved before stepping down, and that probably won't be quick). And once a new Secretary is in office, we'll probably see the new currency in about three months, not a couple of years. But aside from that, yes, we expect a new series due to Geithner's resignation.
Looking over previous signatures, I realized that a letter is added when the Treasurer changes and a new date when the Secretary changes. Also a new date for both. Hadn't payed much attention to that. Anyway, I figured the way government works it would be awhile before someone new was named and printing started.
Under the 1789 Treasury Act, the register's and treasurer's offices were tasked with oversight of the nation's currency supply: the register was the accountant, and the treasurer, the cashier. The register-treasurer signature combination appeared exclusively on all U.S. currency until 1914. In 1914, the Treasury replaced the register's signatures with that of the secretary's because of changes made to certain Treasury offices by the 1893 Dockery Commission. The commission reduced the register's role to a token position and transferred his responsibilities to a new department under direction of the secretary. The secretary, even if only by association, had assumed the register's responsibilities in regards to currency. Treasury officials made the change to treasurer-secretary signatures when they prepared plates for Series of 1914 Federal Reserve notes late in 1914. The would change the plates for other currency when they prepared small-size plates in 1928. Interestingly, national currency always carried register-treasurer signatures because they were required by the 1864 national bank act.
Just so you guys know, Series 2009A is already under production and is already still using the same signatures: http://www.uspapermoney.info/serials/f2009ah.html My best guess is, next series will be 2013.
