Democratic (constitutionalist) President Van Buren signs the Independent Treasury Act of 1840, removing the power of the “pet,” private State banks to speculate with federal deposits by maintaining the deposits in the U.S. Treasury, and sub-treasuries across the voluntary Union.
[added 2/19/2021]
Subsequent Events:
Authority:
Article I, Section 9 [Clause 7]
ccc-2point0.com/constitution-for-the-united-states
References:
Calvin D. Linton, ed. The Bicentennial Almanac: 200 Years of America, 1776-1976, (Nashville, Tennessee: Thomas Nelson, 1975), 115.
U.S. Banking Timeline
www.libertyforlife.com/banking/currency-us-timeline.html
Current U.s. National Debt:
