Skip to main content


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 This act, never strictly carried out, was repealed (Aug. 13, 1841) by the Whigs.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.

Cite this article
Pick a style below, and copy the text for your bibliography.

  • MLA
  • Chicago
  • APA

"subtreasury." The Columbia Encyclopedia, 6th ed.. . 25 Jun. 2019 <>.

"subtreasury." The Columbia Encyclopedia, 6th ed.. . (June 25, 2019).

"subtreasury." The Columbia Encyclopedia, 6th ed.. . Retrieved June 25, 2019 from

Learn more about citation styles

Citation styles gives you the ability to cite reference entries and articles according to common styles from the Modern Language Association (MLA), The Chicago Manual of Style, and the American Psychological Association (APA).

Within the “Cite this article” tool, pick a style to see how all available information looks when formatted according to that style. Then, copy and paste the text into your bibliography or works cited list.

Because each style has its own formatting nuances that evolve over time and not all information is available for every reference entry or article, cannot guarantee each citation it generates. Therefore, it’s best to use citations as a starting point before checking the style against your school or publication’s requirements and the most-recent information available at these sites:

Modern Language Association

The Chicago Manual of Style

American Psychological Association

  • Most online reference entries and articles do not have page numbers. Therefore, that information is unavailable for most content. However, the date of retrieval is often important. Refer to each style’s convention regarding the best way to format page numbers and retrieval dates.
  • In addition to the MLA, Chicago, and APA styles, your school, university, publication, or institution may have its own requirements for citations. Therefore, be sure to refer to those guidelines when editing your bibliography or works cited list.