Since the destruction of the national bank due to the work of Andrew Jackson, a new financial system was being sought in order to remove the threat speculation and notes could place on the economy. President Van Buren created the Independent Treasury System which was later attacked by the Whigs who desired the return of a national bank. By 1841, they had amassed enough of a following that they were able to begin the first step to destroying the Independent Treasury System.
However, President Polk stopped them from being able to completely succeed and by 1846 the System had been revived, bearing the American fiscal policy until it was replaced by the Federal Reserve System in 1913. If the national bank had been restored, the entire economy would have been under the control of only the one financial institution rather than a government regular system like the Federal Reserve. This meant if the wrong leadership had come into power, the result could have been very disastrous for the American people. In addition, it would have placed a huge amount of power into the hands of individuals selected only by Congress instead of being regulated by the whole government.
The Independent Treasury System was not only a political move to stop the Whigs from having more control in the government which could have eventually damaged democracy, but it was also a move to help safeguard the future of the American people by allowing them to have a choice in what happens. As long as aspects of the Independent Treasury System which eventually became the Federal Reserve was controlled through the government through voting channels, the American people will always have a say in what happens, especially when it comes to their money and their future.