subtreasury
subtreasury After President Andrew Jackson vetoed (July 10, 1832) the bill to recharter the Second Bank of the United States , the deposits were removed and placed in state banks that came to be called Jackson's "pets." This process was accomplished by the President only with great difficulty, for there was grave doubt as to its constitutionality (see McLane, Louis ; Duane, William John ; Taney, Roger Brooke ). The situation remained somewhat in suspension and debate until a subtreasury system, as such, was established (July 4, 1840) with the act to set up the Independent Treasury System . This act, never strictly carried out, was repealed (Aug. 13, 1841) by the Whigs. In 1846 the Independent Treasury was finally and rigidly established and with it the subtreasury system. Public funds were not to be deposited in any bank but either kept in coin in the Treasury or subtreasuries or retained by the public officers receiving them until paid out on proper authority. No banknotes were to be received in payments to the government. The subtreasuries were maintained, chiefly through political influence, until the passage of the General Appropriation Act (May 29, 1920) and the transfer of their functions to the Treasury, the mints and assay offices, and the Federal Reserve banks, which was completed in 1921.
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The nature division: a brief history. (Photographic Society of America)
Magazine article from: PSA Journal; 9/1/1994; ; 700+ words
; ...the Nature Division, thus ending the previous committee status. Dues were established in 1944 at $1 per year. With an independent treasury assured, it was possible to consider the development of tangible benefits for members at no extra cost. The first Nature...
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John Quincy Adams Ward
Book article from: The Columbia Encyclopedia, Sixth Edition
...Garfield monument, and General Sherman, Washington, D.C.; Lafayette, Burlington, Vt.; George Washington, in front of the Subtreasury, and Horace Greeley, New York. In 1903, with the collaboration of P. W. Bartlett, he made the pediment sculptures for the...
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Alexander Jackson Davis
Book article from: The Columbia Encyclopedia, Sixth Edition
...important buildings in both the Greek and Gothic revival styles. Works by him include the New York Customs House (1832), now the Subtreasury; the state capitols of Indiana (1832-35), North Carolina (1831, in association with David Paton), Illinois (1837), and Ohio...
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E. B. White
Book article from: The Columbia Encyclopedia, Sixth Edition
...undertook a noted revision of The Elements of Style (1959) by William Strunk, Jr., and with his wife, Katherine, he edited A Subtreasury of American Humor (1941). Bibliography: See his selected essays (1977); letters, ed. by D. L. Guth (1976, 1989; rev. ed...
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Polk, James K.
Encyclopedia entry from: Presidents: A Reference History
...moderate policy that lasted fifteen years, until the Civil War. It reestablished the independent treasury (sometimes called subtreasury), a system of handling revenues that made the government custodian over its own funds instead of scattering them among private...
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Subtreasuries
Dictionary entry from: Dictionary of American History
...the nine subtreasuries were terminated; the last one closed its doors on 10 February 1921. BIBLIOGRAPHY Moser, Harold D. Subtreasury Politics and the Virginia Conservative Democrats, 1835 – 1844. Madison, Wis., 1977. James D. Magee / a. r. See also...
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