a check on one of those banks can obtain specie, and with that specie he can obtain bills of the Bank of the United States; and this is the process he will go through, if he wishes to remit money, in the shape of bank notes, to places at any considerable distance. In fact, that is well known to be the only practice. How this is to be effected, when there shall be no longer notes of the Bank of the United States to be had, remains to be seen.

I have said, Sir, the day of trial has not come, and that all as yet seems clear weather. But I have recently learned some symptoms of approaching squalls. Some little specks of clouds, at least, make their appearance above the horizon. I learn, from authority not to be questioned, that, within the last week or ten days, a Treasury warrant was drawn on a deposit bank in one of the cities, payable in another city. The bank on which the warrant was drawn offered to pay in a check, on a bank in the city where the warrant was payable; and when the check was presented, it was found to be made payable in current bank notes. Here, I think, Sir, there is, as I have said, a small cloud darkening the early dawn of the new golden day of our currency. Even so soon as the present hour, Treasury drafts are thus offered to be paid in current bank I have very good reason to believe, Sir, that other deposit banks draw their checks, in like manner, payable in current bank notes. And I have called the attention of the Senate to these occurrences, not merely to expose the practice, but to correct it also. I wish to stop it at the threshold, by declaring it illegal; and I have prepared a section, which, I trust, the Senate will see the importance of inserting in this bill.

notes.