Why did Van Buren want to create a national treasury?

First establishment

Two months into the presidency of Martin Van Buren, on May 10, 1837, some state banks in New York, running out of hard currency reserves, suddenly refused to convert paper money into gold or silver. ... To deal with the crisis, Van Buren proposed the establishment of an independent U.S. treasury.

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Two months into the presidency of Martin Van Buren, on May 10, 1837, some state banks in New York, running out of hard currency reserves, suddenly refused to convert paper money into gold or silver. To deal with the crisis, Van Buren proposed the establishment of an independent U.S. treasury.

cultural history is your answer