from the book "THE PRINCIPLES OF MASONIC LAW"
A Treatise on the Constitutional Laws, Usages And Landmarks of Freemasonry
by Dr.Albert Gallatin Mackey, 1856
The office of Grand Treasurer was first established in 1724, in consequence of a report of the Committee of Charity of the Grand Lodge of England. But no one was found to hold the trust until the 24th of June, 1727, when, at the request of the Grand Master, the appointment was accepted by Nathaniel Blackerby, Deputy Grand Master. The duties of the office do not at all differ from those of a corresponding one in every other society; but as the trust is an important one in a pecuniary view, it has generally been deemed prudent that it should only be committed to "a brother of good worldly substance," whose ample means would place him beyond the chances of temptation.
The office of Grand Treasurer has this peculiarity, that while all the other officers below the Grand Master were originally and still are in England, appointed, that alone was always elective.