TREASURY, that department of the executive of the government of the United King dom which has the control of the revenue and expenditure of the country. The head of the treasury was in former times an officer called the lord high treasurer (see TREASURER, Loup HIGH), hut his office has ever since the accession of George I. been executed by lords commissioners, who have become his permanent representatives. The treasury board now consists of the prime minister (generally styled first lord of the treasury), the chancellor of the exchequer, and three junior lords of the treasury, who have usually seats in parliament, as have also the two joint-secretaries of the treasury. The first lord being the head of the administration, his duties are not limited to the treasury, which is chiefly conducted by the other members of the board. The chancellor of the exchequer, who holds under a distinct patent the office of under-treasurer, is the effective head of the treasury, exercising the most responsible control over the expenditure of the different branches of the service, as also over all works demanding unusual outlay in the naval, military, and civil departments, either at home or in the colonies. He prepares an annual estimate of the expenses of the country, and of the ways and means by which they are proposed to be met; and this statement, known as the budget, is submitted by him to the house of commons. The prime minister, when a member of the house of commons, has at the same time the office of chancellor of the exchequer. The duties of the junior lords are in a great measure formal: the heaviest portion of the executive functions of the treasury devolves on the secretaries.
The function of payment has ever since the restoration been completely separated from the custody of the public revenue, the former only being vested in the treasury, while the latter belongs to the exchequer. By an arrangement effected by 4 and 5 Will 117. c. 15, the revenue flowing into the treasury is paid into the bank of England, to the credit of the comptroller-general of the exchequer, and all payments ou the public accounts are made pursuant to a warrant or order of the treasury. No moneys voted
by parliament can be drawn from the exchequer without the warrant of the treasury board, nor can any payment be made from the civil list without its authority.
The duties of the treasury board are numerous. The supplies for the army, navy, and civil service are issued under its authority. In virtue of various statutes, it has the regulation of the salaries of newly created officers in other departments, and of the number of officers in the establishments for new branches of the public service The duties of the treasury also comprise the examination of the expenses of legal establish ments, sheriffs, county courts, and criminal prosecutions. All payments for civil salaries, allowances, and incidental charges payable in England, and all payments for the army, navy, and ordnance, are made upon the special authority of the treasury by the paymaster-general. The boards of customs and inland revenue, and the post-office, are subject to its general authority. The office of woods and forests now discharges many of the duties which formerly devolved on the treasury, but is subject to its regulations. The establishments of colonial and other offices are also subject to the control of the treasury with regard to their expenses. The treasury may be appealed to against the decisions of subordinate departments in all cases connected with the receipt of revenue. The treasury possesses the patronage of the departments immediately subordinate to it. The church patronage of the crown—except that which belongs to the lord chancellor—is usually disposed of on the advice of the first lord of the treasury; and the foreign and colonial secretaries, in all important appointments falling under their patronage, are in the practice of consulting the first lord of the treasury.