United States Department of the Treasury
The Department of the Treasury is an executive department and the treasury of the United States federal government. Established by an Act of Congress in 1789 to manage government revenue, the Treasury prints all paper currency and mints all coins in circulation through the Bureau of Engraving and Printing and the United States Mint, respectively. S. government debt instruments. The Department is administered by the Secretary of the Treasury, a member of the Cabinet. Senior advisor to the Secretary is the Treasurer of the United States. Signatures of both officials appear on all Federal Reserve notes; the first Secretary of the Treasury was Alexander Hamilton, sworn into office on September 11, 1789. Hamilton was appointed by President George Washington on the recommendation of Robert Morris, Washington's first choice for the position, who had declined the appointment. Hamilton established—almost singlehandedly—the nation's early financial system and for several years was a major presence in Washington's administration.
His portrait appears on the obverse of the ten-dollar bill, while the Treasury Department building is depicted on the reverse. The current Secretary of the Treasury is Steven Mnuchin, confirmed by the United States Senate on February 13, 2017. Jovita Carranza, appointed on April 28, 2017, is the incumbent treasurer; the history of the Department of the Treasury began in the turmoil of the American Revolution, when the Continental Congress at Philadelphia deliberated the crucial issue of financing a war of independence against Great Britain. The Congress had no power to levy and collect taxes, nor was there a tangible basis for securing funds from foreign investors or governments; the delegates resolved to issue paper money in the form of bills of credit, promising redemption in coin on faith in the revolutionary cause. On June 22, 1775—only a few days after the Battle of Bunker Hill—Congress issued $2 million in bills. On July 29, 1775, the Second Continental Congress assigned the responsibility for the administration of the revolutionary government's finances to joint Continental treasurers George Clymer and Michael Hillegas.
The Congress stipulated. To ensure proper and efficient handling of the growing national debt in the face of weak economic and political ties between the colonies, the Congress, on February 17, 1776, designated a committee of five to superintend the Treasury, settle accounts, report periodically to the Congress. On April 1, a Treasury Office of Accounts, consisting of an Auditor General and clerks, was established to facilitate the settlement of claims and to keep the public accounts for the government of the United Colonies. With the signing of the Declaration of Independence on July 4, 1776, the newborn republic as a sovereign nation was able to secure loans from abroad. Despite the infusion of foreign and domestic loans, the united colonies were unable to establish a well-organized agency for financial administration. Michael Hillegas was first called Treasurer of the United States on May 14, 1777; the Treasury Office was reorganized three times between 1778 and 1781. The $241.5 million in paper Continental bills devalued rapidly.
By May 1781, the dollar collapsed at a rate of from 500 to 1000 to 1 against hard currency. Protests against the worthless money swept the colonies, giving rise to the expression "not worth a Continental". Robert Morris was designated Superintendent of Finance in 1781 and restored stability to the nation's finances. Morris, a wealthy colonial merchant, was nicknamed "the Financier" because of his reputation for procuring funds or goods on a moment's notice, his staff included a comptroller, a treasurer, a register, auditors, who managed the country's finances through 1784, when Morris resigned because of ill health. The treasury board, consisting of three commissioners, continued to oversee the finances of the confederation of former colonies until September 1789; the First Congress of the United States was called to convene in New York on March 4, 1789, marking the beginning of government under the Constitution. On September 2, 1789, Congress created a permanent institution for the management of government finances:Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That there shall be a Department of Treasury, in which shall be the following officers, namely: a Secretary of the Treasury, to be deemed head of the department.
Alexander Hamilton took the oath of office as the first Secretary of the Treasury on September 11, 1789. Hamilton had served as George Washington's aide-de-camp during the Revolution and was of great importance in the ratification of the Constitution; because of his financial and managerial acumen, Hamilton was a logical choice for solving the problem of the new nation's heavy war debt. Hamilton's first official act was to submit a report to Congress in which he laid the foundation for the nation's financial health. To the surprise of many legislators, he insisted upon federal assumption and dollar-for-dollar repayment of the country's $75 million debt in order to revitalize the public credit: "he debt of the United States was the price of liberty; the faith of America has been pledged for it, with solemnities that give peculiar force to the obligation." Hami
Boston is the capital and most populous city of the Commonwealth of Massachusetts in the United States. The city proper covers 48 square miles with an estimated population of 685,094 in 2017, making it the most populous city in New England. Boston is the seat of Suffolk County as well, although the county government was disbanded on July 1, 1999; the city is the economic and cultural anchor of a larger metropolitan area known as Greater Boston, a metropolitan statistical area home to a census-estimated 4.8 million people in 2016 and ranking as the tenth-largest such area in the country. As a combined statistical area, this wider commuting region is home to some 8.2 million people, making it the sixth-largest in the United States. Boston is one of the oldest cities in the United States, founded on the Shawmut Peninsula in 1630 by Puritan settlers from England, it was the scene of several key events of the American Revolution, such as the Boston Massacre, the Boston Tea Party, the Battle of Bunker Hill, the Siege of Boston.
Upon gaining U. S. independence from Great Britain, it continued to be an important port and manufacturing hub as well as a center for education and culture. The city has expanded beyond the original peninsula through land reclamation and municipal annexation, its rich history attracts many tourists, with Faneuil Hall alone drawing more than 20 million visitors per year. Boston's many firsts include the United States' first public park, first public or state school and first subway system; the Boston area's many colleges and universities make it an international center of higher education, including law, medicine and business, the city is considered to be a world leader in innovation and entrepreneurship, with nearly 2,000 startups. Boston's economic base includes finance and business services, information technology, government activities. Households in the city claim the highest average rate of philanthropy in the United States; the city has one of the highest costs of living in the United States as it has undergone gentrification, though it remains high on world livability rankings.
Boston's early European settlers had first called the area Trimountaine but renamed it Boston after Boston, England, the origin of several prominent colonists. The renaming on September 7, 1630, was by Puritan colonists from England who had moved over from Charlestown earlier that year in quest for fresh water, their settlement was limited to the Shawmut Peninsula, at that time surrounded by the Massachusetts Bay and Charles River and connected to the mainland by a narrow isthmus. The peninsula is thought to have been inhabited as early as 5000 BC. In 1629, the Massachusetts Bay Colony's first governor John Winthrop led the signing of the Cambridge Agreement, a key founding document of the city. Puritan ethics and their focus on education influenced its early history. Over the next 130 years, the city participated in four French and Indian Wars, until the British defeated the French and their Indian allies in North America. Boston was the largest town in British America until Philadelphia grew larger in the mid-18th century.
Boston's oceanfront location made it a lively port, the city engaged in shipping and fishing during its colonial days. However, Boston stagnated in the decades prior to the Revolution. By the mid-18th century, New York City and Philadelphia surpassed Boston in wealth. Boston encountered financial difficulties as other cities in New England grew rapidly. Many of the crucial events of the American Revolution occurred near Boston. Boston's penchant for mob action along with the colonists' growing distrust in Britain fostered a revolutionary spirit in the city; when the British government passed the Stamp Act in 1765, a Boston mob ravaged the homes of Andrew Oliver, the official tasked with enforcing the Act, Thomas Hutchinson the Lieutenant Governor of Massachusetts. The British sent two regiments to Boston in 1768 in an attempt to quell the angry colonists; this did not sit well with the colonists. In 1770, during the Boston Massacre, the army killed several people in response to a mob in Boston.
The colonists compelled the British to withdraw their troops. The event was publicized and fueled a revolutionary movement in America. In 1773, Britain passed the Tea Act. Many of the colonists saw the act as an attempt to force them to accept the taxes established by the Townshend Acts; the act prompted the Boston Tea Party, where a group of rebels threw an entire shipment of tea sent by the British East India Company into Boston Harbor. The Boston Tea Party was a key event leading up to the revolution, as the British government responded furiously with the Intolerable Acts, demanding compensation for the lost tea from the rebels; this led to the American Revolutionary War. The war began in the area surrounding Boston with the Battles of Concord. Boston itself was besieged for a year during the Siege of Boston, which began on April 19, 1775; the New England militia impeded the movement of the British Army. William Howe, 5th Viscount Howe the commander-in-chief of the British forces in North America, led the British army in the siege.
On June 17, the British captured the Charlestown peninsula in Boston, during the Battle of Bunker Hill. The British army outnumbered the militia stationed there, but it was a Py
Chicago the City of Chicago, is the most populous city in Illinois, as well as the third most populous city in the United States. With an estimated population of 2,716,450, it is the most populous city in the Midwest. Chicago is the principal city of the Chicago metropolitan area referred to as Chicagoland, the county seat of Cook County, the second most populous county in the United States; the metropolitan area, at nearly 10 million people, is the third-largest in the United States, the fourth largest in North America and the third largest metropolitan area in the world by land area. Located on the shores of freshwater Lake Michigan, Chicago was incorporated as a city in 1837 near a portage between the Great Lakes and the Mississippi River watershed and grew in the mid-nineteenth century. After the Great Chicago Fire of 1871, which destroyed several square miles and left more than 100,000 homeless, the city made a concerted effort to rebuild; the construction boom accelerated population growth throughout the following decades, by 1900 Chicago was the fifth largest city in the world.
Chicago made noted contributions to urban planning and zoning standards, including new construction styles, the development of the City Beautiful Movement, the steel-framed skyscraper. Chicago is an international hub for finance, commerce, technology, telecommunications, transportation, it is the site of the creation of the first standardized futures contracts at the Chicago Board of Trade, which today is the largest and most diverse derivatives market gobally, generating 20% of all volume in commodities and financial futures. O'Hare International Airport is the one of the busiest airports in the world, the region has the largest number of U. S. highways and greatest amount of railroad freight. In 2012, Chicago was listed as an alpha global city by the Globalization and World Cities Research Network, it ranked seventh in the entire world in the 2017 Global Cities Index; the Chicago area has one of the highest gross domestic products in the world, generating $680 billion in 2017. In addition, the city has one of the world's most diversified and balanced economies, not being dependent on any one industry, with no single industry employing more than 14% of the workforce.
Chicago's 58 million domestic and international visitors in 2018, made it the second most visited city in the nation, behind New York City's approximate 65 million visitors. The city ranked first place in the 2018 Time Out City Life Index, a global quality of life survey of 15,000 people in 32 cities. Landmarks in the city include Millennium Park, Navy Pier, the Magnificent Mile, the Art Institute of Chicago, Museum Campus, the Willis Tower, Grant Park, the Museum of Science and Industry, Lincoln Park Zoo. Chicago's culture includes the visual arts, film, comedy and music jazz, soul, hip-hop and electronic dance music including house music. Of the area's many colleges and universities, the University of Chicago, Northwestern University, the University of Illinois at Chicago are classified as "highest research" doctoral universities. Chicago has professional sports teams in each of the major professional leagues, including two Major League Baseball teams; the name "Chicago" is derived from a French rendering of the indigenous Miami-Illinois word shikaakwa for a wild relative of the onion, known to botanists as Allium tricoccum and known more as ramps.
The first known reference to the site of the current city of Chicago as "Checagou" was by Robert de LaSalle around 1679 in a memoir. Henri Joutel, in his journal of 1688, noted that the eponymous wild "garlic" grew abundantly in the area. According to his diary of late September 1687:...when we arrived at the said place called "Chicagou" which, according to what we were able to learn of it, has taken this name because of the quantity of garlic which grows in the forests in this region. The city has had several nicknames throughout its history such as the Windy City, Chi-Town, Second City, the City of the Big Shoulders, which refers to the city's numerous skyscrapers and high-rises. In the mid-18th century, the area was inhabited by a Native American tribe known as the Potawatomi, who had taken the place of the Miami and Sauk and Fox peoples; the first known non-indigenous permanent settler in Chicago was Jean Baptiste Point du Sable. Du Sable arrived in the 1780s, he is known as the "Founder of Chicago".
In 1795, following the Northwest Indian War, an area, to be part of Chicago was turned over to the United States for a military post by native tribes in accordance with the Treaty of Greenville. In 1803, the United States Army built Fort Dearborn, destroyed in 1812 in the Battle of Fort Dearborn and rebuilt; the Ottawa and Potawatomi tribes had ceded additional land to the United States in the 1816 Treaty of St. Louis; the Potawatomi were forcibly removed from their land after the Treaty of Chicago in 1833. On August 12, 1833, the Town of Chicago was organized with a population of about 200. Within seven years it grew to more than 4,000 people. On June 15, 1835, the first public land sales began with Edmund Dick Taylor as U. S. Receiver of Public Monies; the City of Chicago was incorporated on Saturday, March 4, 1837, for several decades was the world's fastest-growing city. As the site of the Chicago Portage, the city became an important transportation hub between the eastern and western United States.
Chicago's first railway and Chicago Union Railroad, the Illi
Los Angeles the City of Los Angeles and known by its initials L. A. is the most populous city in California, the second most populous city in the United States, after New York City, the third most populous city in North America. With an estimated population of four million, Los Angeles is the cultural and commercial center of Southern California; the city is known for its Mediterranean climate, ethnic diversity and the entertainment industry, its sprawling metropolis. Los Angeles is the largest city on the West Coast of North America. Los Angeles is in a large basin bounded by the Pacific Ocean on one side and by mountains as high as 10,000 feet on the other; the city proper, which covers about 469 square miles, is the seat of Los Angeles County, the most populated county in the country. Los Angeles is the principal city of the Los Angeles metropolitan area, the second largest in the United States after that of New York City, with a population of 13.1 million. It is part of the Los Angeles-Long Beach combined statistical area the nation's second most populous area with a 2015 estimated population of 18.7 million.
Los Angeles is one of the most substantial economic engines within the United States, with a diverse economy in a broad range of professional and cultural fields. Los Angeles is famous as the home of Hollywood, a major center of the world entertainment industry. A global city, it has been ranked 6th in the Global Cities Index and 9th in the Global Economic Power Index; the Los Angeles metropolitan area has a gross metropolitan product of $1.044 trillion, making it the third-largest in the world, after the Tokyo and New York metropolitan areas. Los Angeles hosted the 1932 and 1984 Summer Olympics and will host the event for a third time in 2028; the city hosted the Miss Universe pageant twice, in 1990 and 2006, was one of 9 American cities to host the 1994 FIFA men's soccer World Cup and one of 8 to host the 1999 FIFA women's soccer World Cup, hosting the final match for both tournaments. Home to the Chumash and Tongva, Los Angeles was claimed by Juan Rodríguez Cabrillo for Spain in 1542 along with the rest of what would become Alta California.
The city was founded on September 4, 1781, by Spanish governor Felipe de Neve. It became a part of Mexico in 1821 following the Mexican War of Independence. In 1848, at the end of the Mexican–American War, Los Angeles and the rest of California were purchased as part of the Treaty of Guadalupe Hidalgo, becoming part of the United States. Los Angeles was incorporated as a municipality on April 4, 1850, five months before California achieved statehood; the discovery of oil in the 1890s brought rapid growth to the city. The completion of the Los Angeles Aqueduct in 1913, delivering water from Eastern California assured the city's continued rapid growth; the Los Angeles coastal area was settled by the Chumash tribes. A Gabrieleño settlement in the area was called iyáangẚ, meaning "poison oak place". Maritime explorer Juan Rodríguez Cabrillo claimed the area of southern California for the Spanish Empire in 1542 while on an official military exploring expedition moving north along the Pacific coast from earlier colonizing bases of New Spain in Central and South America.
Gaspar de Portolà and Franciscan missionary Juan Crespí, reached the present site of Los Angeles on August 2, 1769. In 1771, Franciscan friar Junípero Serra directed the building of the Mission San Gabriel Arcángel, the first mission in the area. On September 4, 1781, a group of forty-four settlers known as "Los Pobladores" founded the pueblo they called El Pueblo de Nuestra Señora la Reina de los Ángeles,'The Town of Our Lady the Queen of the Angels'; the present-day city has the largest Roman Catholic Archdiocese in the United States. Two-thirds of the Mexican or settlers were mestizo or mulatto, a mixture of African and European ancestry; the settlement remained a small ranch town for decades, but by 1820, the population had increased to about 650 residents. Today, the pueblo is commemorated in the historic district of Los Angeles Pueblo Plaza and Olvera Street, the oldest part of Los Angeles. New Spain achieved its independence from the Spanish Empire in 1821, the pueblo continued as a part of Mexico.
During Mexican rule, Governor Pío Pico made Los Angeles Alta California's regional capital. Mexican rule ended during the Mexican–American War: Americans took control from the Californios after a series of battles, culminating with the signing of the Treaty of Cahuenga on January 13, 1847. Railroads arrived with the completion of the transcontinental Southern Pacific line to Los Angeles in 1876 and the Santa Fe Railroad in 1885. Petroleum was discovered in the city and surrounding area in 1892, by 1923, the discoveries had helped California become the country's largest oil producer, accounting for about one-quarter of the world's petroleum output. By 1900, the population had grown to more than 102,000; the completion of the Los Angeles Aqueduct in 1913, under the supervision of William Mulholland, assured the continued growth of the city. Due to clauses in the city's charter that prevented the City of Los Angeles from selling or providing water from the aqueduct to any area outside its borders, many adjacent city and communities became compelled to annex themselves into Los Angeles.
Los Angeles created the first municipal zoning ordinance in the United States. On September 14, 1908, the Los Angeles City Council promulgated residential and industrial land use zones; the new ordinance established three residential zones of a single type, where industrial uses were
Financial institutions, otherwise known as banking institutions, are corporations that provide services as intermediaries of financial markets. Broadly speaking, there are three major types of financial institutions: Depository institutions – deposit-taking institutions that accept and manage deposits and make loans, including banks, building societies, credit unions, trust companies, mortgage loan companies. Financial institutions can be distinguished broadly into two categories according to ownership structure: Commercial Banks Cooperative BanksSome experts see a trend toward homogenisation of financial institutions, meaning a tendency to invest in similar areas and have similar business strategies. A consequence of this might be fewer banks serving specific target groups, small-scale producers may be under-served. Standard Settlement Instructions are the agreements between two financial institutions which fix the receiving agents of each counterparty in ordinary trades of some type; these agreements allow traders to make faster trades since the time used to settle the receiving agents is conserved.
Limiting the trader to an SSI lowers the likelihood of a fraud. SSIs are used by financial institutions to facilitate accurate cross-border payments. Financial institutions in most countries operate in a regulated environment because they are critical parts of countries' economies, due to economies' dependence on them to grow the money supply via fractional reserve lending. Regulatory structures differ in each country, but involve prudential regulation as well as consumer protection and market stability; some countries have one consolidated agency that regulates all financial institutions while others have separate agencies for different types of institutions such as banks, insurance companies and brokers. Countries that have separate agencies include the United States, where the key governing bodies are the Federal Financial Institutions Examination Council, Office of the Comptroller of the Currency - National Banks, Federal Deposit Insurance Corporation State "non-member" banks, National Credit Union Administration - Credit Unions, Federal Reserve - "member" Banks, Office of Thrift Supervision - National Savings & Loan Association, State governments each regulate and charter financial institutions.
Countries that have one consolidated financial regulator include: Norway with the Financial Supervisory Authority of Norway, Germany with Federal Financial Supervisory Authority and Russia with Central Bank of Russia. Merits of raising funds through financial institutions are as follows: Financial institutions provide long term finance, which are not provided by commercial banks; such a company can raise funds from other sources as well. Cooperative banking
New York City
The City of New York called either New York City or New York, is the most populous city in the United States. With an estimated 2017 population of 8,622,698 distributed over a land area of about 302.6 square miles, New York is the most densely populated major city in the United States. Located at the southern tip of the state of New York, the city is the center of the New York metropolitan area, the largest metropolitan area in the world by urban landmass and one of the world's most populous megacities, with an estimated 20,320,876 people in its 2017 Metropolitan Statistical Area and 23,876,155 residents in its Combined Statistical Area. A global power city, New York City has been described as the cultural and media capital of the world, exerts a significant impact upon commerce, research, education, tourism, art and sports; the city's fast pace has inspired the term New York minute. Home to the headquarters of the United Nations, New York is an important center for international diplomacy.
Situated on one of the world's largest natural harbors, New York City consists of five boroughs, each of, a separate county of the State of New York. The five boroughs – Brooklyn, Manhattan, The Bronx, Staten Island – were consolidated into a single city in 1898; the city and its metropolitan area constitute the premier gateway for legal immigration to the United States. As many as 800 languages are spoken in New York, making it the most linguistically diverse city in the world. New York City is home to more than 3.2 million residents born outside the United States, the largest foreign-born population of any city in the world. In 2017, the New York metropolitan area produced a gross metropolitan product of US$1.73 trillion. If greater New York City were a sovereign state, it would have the 12th highest GDP in the world. New York is home to the highest number of billionaires of any city in the world. New York City traces its origins to a trading post founded by colonists from the Dutch Republic in 1624 on Lower Manhattan.
The city and its surroundings came under English control in 1664 and were renamed New York after King Charles II of England granted the lands to his brother, the Duke of York. New York served as the capital of the United States from 1785 until 1790, it has been the country's largest city since 1790. The Statue of Liberty greeted millions of immigrants as they came to the U. S. by ship in the late 19th and early 20th centuries and is an international symbol of the U. S. and its ideals of liberty and peace. In the 21st century, New York has emerged as a global node of creativity and entrepreneurship, social tolerance, environmental sustainability, as a symbol of freedom and cultural diversity. Many districts and landmarks in New York City are well known, with the city having three of the world's ten most visited tourist attractions in 2013 and receiving a record 62.8 million tourists in 2017. Several sources have ranked New York the most photographed city in the world. Times Square, iconic as the world's "heart" and its "Crossroads", is the brightly illuminated hub of the Broadway Theater District, one of the world's busiest pedestrian intersections, a major center of the world's entertainment industry.
The names of many of the city's landmarks and parks are known around the world. Manhattan's real estate market is among the most expensive in the world. New York is home to the largest ethnic Chinese population outside of Asia, with multiple signature Chinatowns developing across the city. Providing continuous 24/7 service, the New York City Subway is the largest single-operator rapid transit system worldwide, with 472 rail stations. Over 120 colleges and universities are located in New York City, including Columbia University, New York University, Rockefeller University, which have been ranked among the top universities in the world. Anchored by Wall Street in the Financial District of Lower Manhattan, New York has been called both the most economically powerful city and the leading financial center of the world, the city is home to the world's two largest stock exchanges by total market capitalization, the New York Stock Exchange and NASDAQ. In 1664, the city was named in honor of the Duke of York.
James's older brother, King Charles II, had appointed the Duke proprietor of the former territory of New Netherland, including the city of New Amsterdam, which England had seized from the Dutch. During the Wisconsinan glaciation, 75,000 to 11,000 years ago, the New York City region was situated at the edge of a large ice sheet over 1,000 feet in depth; the erosive forward movement of the ice contributed to the separation of what is now Long Island and Staten Island. That action left bedrock at a shallow depth, providing a solid foundation for most of Manhattan's skyscrapers. In the precolonial era, the area of present-day New York City was inhabited by Algonquian Native Americans, including the Lenape, whose homeland, known as Lenapehoking, included Staten Island; the first documented visit into New York Harbor by a European was in 1524 by Giovanni da Verrazzano, a Florentine explorer in the service of the French crown. He named it Nouvelle Angoulême. A Spanish expedition led by captain Estêvão Gomes, a Portuguese sailing for Emperor Charles V, arrived in New York Harbor in January 1525 and charted the mouth of the Hudson River, which he named Río de San Antonio.
The Padrón Rea
National Diet Library
The National Diet Library is the national library of Japan and among the largest libraries in the world. It was established in 1948 for the purpose of assisting members of the National Diet of Japan in researching matters of public policy; the library is similar in scope to the United States Library of Congress. The National Diet Library consists of two main facilities in Tōkyō and Kyōtō, several other branch libraries throughout Japan; the National Diet Library is the successor of three separate libraries: the library of the House of Peers, the library of the House of Representatives, both of which were established at the creation of Japan's Imperial Diet in 1890. The Diet's power in prewar Japan was limited, its need for information was "correspondingly small"; the original Diet libraries "never developed either the collections or the services which might have made them vital adjuncts of genuinely responsible legislative activity". Until Japan's defeat, the executive had controlled all political documents, depriving the people and the Diet of access to vital information.
The U. S. occupation forces under General Douglas MacArthur deemed reform of the Diet library system to be an important part of the democratization of Japan after its defeat in World War II. In 1946, each house of the Diet formed its own National Diet Library Standing Committee. Hani Gorō, a Marxist historian, imprisoned during the war for thought crimes and had been elected to the House of Councillors after the war, spearheaded the reform efforts. Hani envisioned the new body as "both a'citadel of popular sovereignty'", the means of realizing a "peaceful revolution"; the Occupation officers responsible for overseeing library reforms reported that, although the Occupation was a catalyst for change, local initiative pre-existed the Occupation, the successful reforms were due to dedicated Japanese like Hani. The National Diet Library opened in June 1948 in the present-day State Guest-House with an initial collection of 100,000 volumes; the first Librarian of the Diet Library was the politician Tokujirō Kanamori.
The philosopher Masakazu Nakai served as the first Vice Librarian. In 1949, the NDL became the only national library in Japan. At this time the collection gained an additional million volumes housed in the former National Library in Ueno. In 1961, the NDL opened at its present location in Nagatachō, adjacent to the National Diet. In 1986, the NDL's Annex was completed to accommodate a combined total of 12 million books and periodicals; the Kansai-kan, which opened in October 2002 in the Kansai Science City, has a collection of 6 million items. In May 2002, the NDL opened a new branch, the International Library of Children's Literature, in the former building of the Imperial Library in Ueno; this branch contains some 400,000 items of children's literature from around the world. Though the NDL's original mandate was to be a research library for the National Diet, the general public is the largest consumer of the library's services. In the fiscal year ending March 2004, for example, the library reported more than 250,000 reference inquiries.
As Japan's national library, the NDL collects copies of all publications published in Japan. Moreover, because the NDL serves as a research library for Diet members, their staffs, the general public, it maintains an extensive collection of materials published in foreign languages on a wide range of topics; the NDL has eight major specialized collections: Modern Political and Constitutional History. The Modern Political and Constitutional History Collection comprises some 300,000 items related to Japan's political and legal modernization in the 19th century, including the original document archives of important Japanese statesmen from the latter half of the 19th century and the early 20th century like Itō Hirobumi, Iwakura Tomomi, Sanjō Sanetomi, Mutsu Munemitsu, Terauchi Masatake, other influential figures from the Meiji and Taishō periods; the NDL has an extensive microform collection of some 30 million pages of documents relating to the Occupation of Japan after World War II. This collection include the documents prepared by General Headquarters and the Supreme Commander of the Allied Powers, the Far Eastern Commission, the United States Strategic Bombing Survey Team.
The Laws and Preliminary Records Collection consists of some 170,000 Japanese and 200,000 foreign-language documents concerning proceedings of the National Diet and the legislatures of some 70 foreign countries, the official gazettes, judicial opinions, international treaties pertaining to some 150 foreign countries. The NDL maintains a collection of some 530,000 books and booklets and 2 million microform titles relating to the sciences; these materials include, among other things, foreign doctoral dissertations in the sciences, the proceedings and reports of academic societies, catalogues of technical standards, etc. The NDL has a collection of 440,000 maps of Japan and other countries, including the topographica