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The establishment of the independent treasury system in 1840 aimed to stabilize the U.S. economy by removing federal funds from private banks and placing them in government-controlled vaults. This reduced the influence of banking institutions on government finances and helped curb speculation and inflation. However, it also led to a decrease in available credit, which some argued stifled economic growth and contributed to the financial instability of the period. Overall, the system sought to create a more secure financial environment but had mixed results in its impact on the economy.

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