en counterfeited, 1,861 kinds
of imitations were afloat, and 3,039 alterations, in addition to
1,685 spurious notes, in which hardly any care had been taken to
show any resemblance to the genuine." The national banks would be
depositories of public moneys and their notes would be receivable
for taxes. He concluded by declaring that "we cannot maintain our
nationality unless we establish a sound and stable financial system,
and as the basis of it we must have a uniform national currency."
Accordingly he deemed the passage of the pending bill "more important
than any other measure now pending either in Senate or House."

--Mr. Henderson of Missouri sought to limit the system to banks
with a capital not less then $300,000, and thought "it would be
infinitely better that all the banks should be established in New
York, Philadelphia, Boston, Cincinnati, St. Louis, and such cities
as those." He said "they had had some experience in the West with
banking laws which permitted the organization of banks in out-of-
the-way places, obscure villages, and unknown cross-roads."

--Mr. Powell of Kentucky, who was most persistent in his advocacy
of a currency based on gold and silver coin, moved to "strike from
the bill the words which prevented the acceptance of the National
bank notes for duties on imports." These duties were payable in
coin in order to secure gold with which to pay the interest on the
public debt. In supporting his amendment, Senator Powell said that
if the bill became a law the fact that they could not be received
for customs would tend to depreciate the notes, and he wanted the
credit of the paper money kept up if the country was to have no
other. His motion was defeated.

--Mr. Ira Harris of New York secured the adoption of three sections,
to be added at the end of the bill, which would enable State banks
to accept its provisions and become National institutions more
readily and more easily. He said that he was not opposed to a fair
trial of the new system, but he doubted very much whether the banks
of New York could be induced to abandon their State charters. "The
banking system of New York was the best in the world. The banks
enjoyed privileges which they could not be induced to surrender
and the people would be reluctant to trust any others."

--Mr. John Carlile of West Virginia voted against all amendment
because he wanted the bill to kill itself, which would happen if
it were not improved. He v