One of Victoria's oldest public institutions, the Treasury has existed in various forms throughout Victorian history.

The Department of Treasury and Finance can trace its origins to the earliest days of the settlement that became the State of Victoria.

As well as being involved in collecting revenue from land sales and customs duty, the treasury became the principal agency responsible for the sale and safe storage of gold extracted from Victoria’s mines in the second half of the nineteenth century (see Victorian Gold Rush).

The building of the treasury (now known as 'the old treasury building'), along with other civic offices like the Parliament, Customs House, and Post Office, was a reaction by authorities who wanted to display state power in Melbourne because of fears of public disorder following the gold rush.

Below, in the basement, were bluestone vaults for storing the gold sent by government escort from the goldmining fields.