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Bureau of Engraving and Printing: Difference between revisions
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{{Organization | |||
|OrganizationName=Bureau of Engraving and Printing | |||
|OrganizationType=Executive Departments | |||
|Mission=The BEP designs and manufactures U.S. currency notes, serving as the primary source for paper money in the United States. It also produces security documents for government agencies and supports financial integrity through anti-counterfeiting measures. | |||
|ParentOrganization=United States Department of the Treasury | |||
|Employees=2000 | |||
|Budget=$800 million (Fiscal Year 2024) | |||
|OrganizationExecutive=Director | |||
|Services=Currency production; Security documents; Currency design; Anti-counterfeiting research | |||
|HeadquartersLocation=38.88622, -77.03187 | |||
|HeadquartersAddress=14th Street and C Street SW, Washington, DC 20228 | |||
|Website=https://www.bep.gov | |||
}} | |||
{{Short description|United States government agency}} | {{Short description|United States government agency}} | ||
{{Infobox government agency | {{Infobox government agency | ||
|agency_name = Bureau of Engraving and Printing | |agency_name = Bureau of Engraving and Printing | ||
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[[File:United States Souvenir Card HAPEX 1970.jpg|thumb|right|180px|upright|United States Souvenir Card issued by the Bureau of Engraving and Printing, for the HAPEX APS 70 exhibition and 84th Annual Convention of the American Philatelic Society in 1970]] | [[File:United States Souvenir Card HAPEX 1970.jpg|thumb|right|180px|upright|United States Souvenir Card issued by the Bureau of Engraving and Printing, for the HAPEX APS 70 exhibition and 84th Annual Convention of the American Philatelic Society in 1970]] | ||
The Bureau of Engraving and Printing has its origins in legislation enacted to help fund the | The Bureau of Engraving and Printing has its origins in legislation enacted to help fund the Civil War. In July 1861, [[United States Congress|Congress]] authorized the [[United States Secretary of the Treasury|Secretary of the Treasury]] to issue [[paper currency]] in lieu of [[coin]]s due to the lack of funds needed to support the conflict. The paper [[banknote|notes]] were essentially government [[promissory note|IOUs]] and were called [[Demand Note]]s because they were payable "on demand" in coin at certain Treasury facilities. At this time the government had no facility for the production of paper money so a private firm produced the Demand Notes in sheets of four. These sheets were then sent to the Treasury Department where dozens of clerks signed the notes and scores of workers cut the sheets and trimmed the notes by hand. The [[Legal tender#United States|Second Legal Tender Act]] (July 11, 1862; {{USStat|12|532}}) authorized the Treasury Secretary to engrave and print notes at the Treasury Department; the design of which incorporates fine-line engraving, intricate geometric lathe work patterns, a Treasury seal, and engraved signatures to aid in counterfeit deterrence.<ref>{{cite web|title=U.S. Currency|url=https://www.moneyfactory.gov/uscurrency/history.html|publisher=Bureau of Engraving and Printing U.S. Department of the Treasury|access-date=March 29, 2017}}</ref> | ||
Initially, the currency processing operations in the Treasury were not formally organized. When Congress created the [[Office of the Comptroller of the Currency|Office of Comptroller of the Currency]] and National Currency Bureau in 1863, currency-processing operations were nominally subordinated to that agency and designated the "First Division, National Currency Bureau". For years, however, the currency operations were known by various semi-official labels, such as the "Printing Bureau", "Small Note Bureau", "Currency Department", and "Small Note Room". It was not until 1874 that the "Bureau of Engraving and Printing" was officially recognized in congressional [[legislation]] with a specific allocation of operating funds for the fiscal year of 1875. | Initially, the currency processing operations in the Treasury were not formally organized. When Congress created the [[Office of the Comptroller of the Currency|Office of Comptroller of the Currency]] and National Currency Bureau in 1863, currency-processing operations were nominally subordinated to that agency and designated the "First Division, National Currency Bureau". For years, however, the currency operations were known by various semi-official labels, such as the "Printing Bureau", "Small Note Bureau", "Currency Department", and "Small Note Room". It was not until 1874 that the "Bureau of Engraving and Printing" was officially recognized in congressional [[legislation]] with a specific allocation of operating funds for the fiscal year of 1875. | ||
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[[Image:Onedolar2009series.jpg|thumb|left|240px|Federal Reserve [[United States one-dollar bill|$1 note]], 2009 issue]] | [[Image:Onedolar2009series.jpg|thumb|left|240px|Federal Reserve [[United States one-dollar bill|$1 note]], 2009 issue]] | ||
Plate capacity on power presses increased from four to eight notes per sheet in 1918 in order to meet the greatly expanded production requirements related to | Plate capacity on power presses increased from four to eight notes per sheet in 1918 in order to meet the greatly expanded production requirements related to World War I. | ||
With the redesign of [[United States note|currency]] in [[Series of 1928 (United States Currency)|1929]], the first major change since paper currency was first issued in 1861, note design was not only standardized but note size was also significantly reduced. Due to this reduction in size, the Bureau was able to convert from eight-note printing plates to twelve-note plates. The redesign effort came about for several reasons, chief among them a reduction in paper costs and improved [[counterfeit]] deterrence through better public recognition of currency features. | With the redesign of [[United States note|currency]] in [[Series of 1928 (United States Currency)|1929]], the first major change since paper currency was first issued in 1861, note design was not only standardized but note size was also significantly reduced. Due to this reduction in size, the Bureau was able to convert from eight-note printing plates to twelve-note plates. The redesign effort came about for several reasons, chief among them a reduction in paper costs and improved [[counterfeit]] deterrence through better public recognition of currency features. | ||
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=== Fort Worth location === | === Fort Worth location === | ||
In 1987, construction began on a second facility in [[Fort Worth, Texas]]. In addition to meeting increased production requirements, a western location was seen to serve as a contingency operation in case of emergencies in the [[Washington Metropolitan Area|DC metropolitan area]]; additionally, costs for transporting currency to [[Federal Reserve System|Federal Reserve banks]] in | In 1987, construction began on a second facility in [[Fort Worth, Texas]]. In addition to meeting increased production requirements, a western location was seen to serve as a contingency operation in case of emergencies in the [[Washington Metropolitan Area|DC metropolitan area]]; additionally, costs for transporting currency to [[Federal Reserve System|Federal Reserve banks]] in San Francisco, [[Dallas]], and [[Kansas City, Missouri|Kansas City]] would be reduced. Currency production began in December 1990 at the Fort Worth facility, and the official dedication took place on April 26, 1991. Any currency printed at Fort Worth includes a small "FW", usually located to the left of the bill's face plate number, and most also have larger back plate numbers.<ref>{{cite web|url=http://www.uspapermoney.info/general/note.html|title=USPaperMoney.Info: Features of Current Notes}}</ref> | ||
=== Historic locations === | === Historic locations === | ||