February 24th

Friday February 24th

This is a big anniversary for money in the United States. In 1862, on this date, Paper currency (greenbacks) were introduced in the US by President Abraham Lincoln. One year later to the day, in 1863, Congress created the national banking system, and the office of the Comptroller of Currency. To mark the occasion, I’m writing to the current Treasury Secretary and Comptroller of the Currency.

John W. Snow

President George W. Bush nominated John William Snow to be the 73rd Secretary of the Treasury on January 13, 2003 . The United States Senate unanimously confirmed Snow to the position on January 30, 2003 and he was sworn into office on February 3, 2003 . As Secretary of the Treasury, Snow works closely with President Bush on a broad array of economy policy issues. Snow’s previous public service includes having served at the Department of Transportation as Administrator of the National Highway Traffic Safety Administration, Deputy Undersecretary, Assistant Secretary for the Governmental Affairs, and Deputy Assistant Secretary for Policy, Plans and International Affairs.

John C. Dugan

John C. Dugan was sworn in as the 29th Comptroller of the Currency in August 2005. The Comptroller of the Currency is the administrator of national banks. The OCC supervises 1,900 federally chartered commercial banks and about 50 federal branches and agencies of foreign banks in the United States, comprising more than half the assets of the commercial banking system. The Comptroller also serves as a director of the Federal Deposit Insurance Corporation, the Federal Financial Institutions Examination Council, and the Neighborhood Reinvestment Corporation.