Answered

President Martin Van Buren's "subtreasury" system
Select one:
O a. consisted of a controversial, new financial system to replace the Bank of the United States.
O b. created a new national bank.
Oc. never became law.
O d. quickly failed.
O e. did not pass until his successor's administration.



Answer :

GinnyAnswer

Final answer:

President Martin Van Buren's 'subtreasury' system, or the Independent Treasury System, separated the federal government's fiscal affairs from private banking and was approved in 1840.


Explanation:

The President Martin Van Buren's "subtreasury" system, also known as the Independent Treasury System, was a proposed financial system put forth by Van Buren after the Panic of 1837. It aimed to separate the federal government's fiscal affairs from the private banking system by creating an independent treasury to hold government deposits. Despite facing opposition, the system was finally approved in 1840.


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