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Bureau of Engraving and Printing: Difference between revisions
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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. | ||