#ustreasury

[the-fact-site]

The office Treasurer of the United States has been held by women since 1949. #FACT

[lincolncollection]

Paper “Change”—19th-Century Fractional Currency

Fractional paper currency was introduced in the United States in August of 1862 and continued to be issued by the United States government until February of 1876. During the Civil War, hoarding of coins became increasingly common as the value of the silver and gold in coins outstripped the face value of the coins themselves. Coins were soon in short supply, and the suspension of specie payment for paper money in December 1861 exacerbated the problem. The solution was factional paper currency—sometimes called postage currency—small paper notes in values of 3 cents, 5 cents, 10 cents, 15 cents, 25 cents, and 50 cents.

Some early fractional currency was issued by local institutions for local circulation. This 25-cent note featuring a portrait of President Lincoln was issued on August 1, 1862, by W.P. Carpenter of Utica, N.Y. It could redeemed for bank notes “when presented in sums of One Dollar and upwards.” W.P. Carpenter was the Utica City Treasurer and a bookkeeper for J.S. & M. Peckham, a local retailer, where security for this note issue was deposited. 

Peter Vidvard, also of Utica, issued this 15-cent note on September 23, 1862. Vidvard was a local retailer and wholesaler who sold liquor and cigars throughout central New York. The terms for redemption of the note are the same as for the Carpenter note.

The U.S. Treasury produced five issues of fractional currency between August 21, 1862, and February 15, 1876. Notes in the first and second issues featured portraits of George Washington. Notes in the third issue, dating from December 5, 1864, through August 16, 1869, introduced additional designs, including portraits of Lincoln Administration Cabinet member William P. Fessenden, Secretary of the Treasury from July 1864 to March 1865. The reverse of this 25-cent note explains the terms of exchange: “This Note is exchangeable for United States Notes by the Assistant Treasurers and designated Depositories of the United States in sums not less than Three Dollars. Receivable in payment of all dues to the United States less than Five Dollars except Customs.”

The terms of this 50-cent note, also a third issue, are the same. The note features a portrait of Francis Spinner, Treasurer of the United States from 1861 to 1875.

Both Spinner and Fessenden appeared on notes during their lifetimes, which created political controversy and the charge that the Treasury was abusing its privilege of selecting portraits to appear on currency. On April 7, 1866, Congress enacted legislation to prevent such abuse. The new law stated “that no portrait or likeness of any living person hereafter engraved, shall be placed upon any of the bonds, securities, notes, fractional or postal currency of the United States.”

Designs of fourth issue (July 14, 1869 – February 16, 1875) and fifth issue (February 26, 1874 – February 16, 1876) notes were even more varied, though the terms of exchange remained the same. Fourth issue notes included this 50-cent notes featuring Edwin M. Stanton (d. 1869), Secretary of War from January 1862 through May 1868.

A portrait of President Lincoln (d. 1865) appears on this 50-cent note, also fourth issue.

Robert J. Walker (d. 1869), Secretary of the Treasury under presidents James Polk and Zachary Taylor from 1845 to 1849, appears on this fifth-issue 25-cent note.

This fifth-issue 10-cent note features Walker’s successor, William M. Meredith (d. 1873), who was Secretary of the Treasury from March 1849 to July 1850. 

Fractional currency remained in use until 1876, when Congress passed legislation that authorized fractional silver coins be minted to redeem the fractional currency still in circulation.

[the-fact-site]

The office Treasurer of the United States has been held by women since 1949. #FACT

[newsababil360]

Crypto Lobby Presses US to Revise Anti-Money Laundering Rule Threatening Stablecoin Flow

## Why the Treasury’s New AML Rule May Stall the Next Wave of Stablecoin Innovation A coalition led by Hyperliquid, together with venture capital firm Paradigm, has lodged a joint brief with the U.S. Treasury, urging a rethink of the administration’s proposed anti‑money‑laundering (AML) regulation. The brief warns that the rule—intended to tighten oversight of decentralized stablecoin activity—could sharply reduce transaction flow on public blockchains just as cross‑chain stablecoin volumes have risen 12% in the last quarter. ### Key Takeaways - **Stakeholder pushback:** Hyperliquid‑backed coalition and Paradigm filed a coordinated brief, signaling organized industry resistance to the Treasury’s draft rule. - **Regulatory focus:** The proposed AML framework would extend traditional reporting obligations to decentralized stablecoin transfers, a move that industry groups say is premature. - **Market momentum:** Data cited by the coalition shows a 12% quarter‑over‑quarter increase in cross‑chain stablecoin volume, indicating growing user demand for interoperable, on‑chain assets. - **Potential impact:** Critics argue the rule could curtail liquidity, impede DeFi development, and push activity to less regulated jurisdictions. - **Policy dilemma:** The Treasury must balance legitimate AML objectives with preserving the competitive edge of U.S. crypto innovation. [Read Full Article](https://news.ababil360.com/crypto-lobby-presses-us-to-revise-anti-money-laundering-rule-threatening-stablecoin-flow/) #CryptoRegulation #Stablecoins #AML #USTreasury #DeFi #CrossChain #FinancialCrime #VentureCapital #PolicyLobby #newsababil360

[arise-servers]

Web Server Hosting http://dlvr.it/TScCPk Arise Server

[newsababil360]

Gulf Allies Seek Currency Swap Lines as Energy Shock Looms

## Washington Confronts a $75 Billion Currency‑Swap Plea as Energy Turbulence Rises U.S. Treasury Secretary Janet Yellen confirmed that a coalition of Gulf states and Asian economies has formally requested currency‑swap lines from Washington. The estimated $75 billion request is designed to bolster foreign‑exchange reserves and stabilize import costs amid the energy shock triggered by the ongoing Middle East conflict. ### Key Takeaways - **Formal request lodged:** Gulf and Asian partners have approached the U.S. for swap lines to mitigate the fallout from the energy crisis. - **Scale of demand:** The combined request is valued at roughly **$75 billion**, a sizable addition to existing U.S. swap facilities. - **Objective:** Strengthen foreign‑exchange reserves and keep import bills predictable for the requesting nations. - **Strategic backdrop:** The demand reflects heightened concerns over the **energy shock** stemming from the Middle East conflict and its ripple effects on global markets. - **Policy implications:** Granting the swaps could reinforce U.S. diplomatic ties while exposing the Treasury to additional balance‑sheet exposure. - **Market signal:** The move underscores the vulnerability of emerging economies to energy price volatility and the importance of liquidity buffers. - **Potential precedent:** A new wave of swap lines may set a benchmark for future crisis‑response mechanisms between the U.S. and partner economies. [Read Full Article](https://news.ababil360.com/gulf-allies-seek-currency-swap-lines-as-energy-shock-looms/) #GulfSwap #CurrencySwap #EnergyShock #MiddleEastConflict #USTreasury #JanetYellen #ForeignExchange #GlobalMarkets #ImportStability #newsababil360

[wtfwire]

Student loans Treasury transfer policy impacts millions as US shifts debt oversight from Education Department in major overhaul

Student loans Treasury transfer policy impacts millions as US shifts debt oversight from Education Department in major overhaul.

[my-asianewstoday-blog]

US May Lift Sanctions On Additional Russian Oil To Ease Global Supply Gap: Treasury Chief http://dlvr.it/TRLbsP