One bill on this
subject was killed by a veto in 1832, but another was finally approved
in 1836. Before distribution could be carried far, however, the
country was overtaken by the panic of 1837; and never again was there
a surplus to distribute. For seven years the funds of the Government
continued to be kept in state banks, until, in 1840, President Van
Buren prevailed upon Congress to pass a measure setting up an
independent treasury system, thereby realizing the ultimate purpose of
the Jacksonians to divorce the Government from banks of every sort.
When the Whigs came into power in 1841, they promptly abolished the
independent Treasury with a view to resurrecting the United States
Bank. Tyler's vetoes, however, frustrated their designs, and it
remained for the Democrats in 1846 to revive the independent Treasury
and to organize it substantially as it operates today.
CHAPTER X
THE REMOVAL OF THE SOUTHERN INDIANS
It was not by chance that the Jacksonian period made large
contribution to the working out of the ultimate relations of the red
man with his white rival and conqueror.
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