By the laws of the United States, any five or more persons with sufficient capital may organize a national bank. A national bank may issue its notes--that is, its promises to pay--as currency, to an amount not exceeding the amount of United States bonds deposited by the bank with the national government. Each federal reserve bank is a large central bank organized by the banks of a certain district. It issues notes as currency, secured by commercial notes, drafts, etc.
The commissioner of internal revenue supervises the collection of income taxes and of taxes laid upon tobacco; liquors, etc., manufactured in this country.
The director of the mint has charge of the coinage of money, and reports to Congress upon the yield of precious metals. There are mints at Philadelphia, Carson, San Francisco, Denver, and New Orleans, and assay offices also at other places.
The Constitution vests the power to coin money in the national government alone.
The director of the bureau of engraving and printing supervises the execution of designs and the engraving and printing of revenue and postage stamps, national bank notes, and the notes, bonds, and other financial paper of the United States.
The supervising architect selects plans for the erection of custom-houses, court-houses, post-offices, mints, and other public buildings of the United States.
The surgeon-general of the public health service has charge of the marine hospitals, and helps to enforce the laws which aim to prevent the introduction of contagious diseases into the country. He calls conferences of state health boards.
The solicitor of the treasury is the chief lawyer for the department. He has charge of prosecutions for violations of the customs laws, and other crimes against the financial interests of the United States. Like similar lawyers for other departments, he is included in the department of justice, under the attorney-general.
WAR DEPARTMENT.--The secretary of war is the head of the war department. He has charge of the land forces, under the direction of the President. He supervises the expenditure of money voted by Congress for the improvement of rivers and harbors, and for the United States Military Academy at West Point, as well as for the support and operations of the army. In the management of his department he is aided by an assistant secretary of war.
BUREAUS.--The war department has numerous offices and bureaus, each in the charge of a responsible officer, and all under the supervision of the Chief of Staff, who is the military adviser of the secretary of war.