310 Removal of the Deposits

310.Removal of the Deposits

In those days there was no United States Treasury building at Washing - ton , with great vaults for the storing of gold , silver , and paper money . There were no sub - treasuries in the im - portant commercial cities . The United States Bank and its branches received the government ＇ s money on deposit and paid it out on checks signed by the proper government official . In 
1833 the United States Bank had in its vaults about nine milion dollars belonging to the government . Jack - son directed that this money should be drawn out as required , to pay the government ＇ s expenses , and that no more government money should be deposited in the bank . In the future it should be deposited in certain state banks . The banks selected were con - trolled by Jackson ＇ s political friends and were caled the " pet banks .＂