Mr. SHERMAN. I trust the Senfrom Iowa will not press that amendment. The bill now contains nothing upon which there is any controversy, so far as I know, in either House. It contains important provisions in regard to our public debt which it is admitted must ass, or ought to pass. This amendment introdhces a very difficult and controverted question. This uostion is pendin"r now, and is probably under debate in the HoRep, as to whether the national banks may be used as Government depositaries where we have places of deposit. The officers of the Treasury are opposed entirely to this provision, and a little re cction will convince Senators that it would be utterly impossible, with our system of internalrevenue, to get along if we require all de osits of public money in these large cities tobe made in one place. In the city of NewYork, for instance, this proosition would require all the deposits made y collectors of internalrevenue to be placed in the sub Treasury there. Under the banking law as it has been amended, no disbursing officer can deposit in a national bank. That is well enough; and that is the law, I believe, without the recent act that has been passed. But under the present law collectors of internalrevenue can make deposits in certain designated deposita ries, which are selected by the SecyTreasury, and which have to give security to an amount equal to the deposits. It has also been found to be very useful in negotiating loans to use national banks temporarily as temporary places of deposit. Let me illustrate this proposition to the Senfrom Iowa. SuppOSe that every collector had to deposit all the money he received daily in the sub Treasury. The sub Treasurer cannot take anything but U.S. notes. The collectors take checks, certificates of deposit, and all forms of business securities. Yinc 10thsof the payments made in the city of NewYork are made by certified checks. The collector of internalrevenue takes them and deposits them in the national depositary his immediate neighborhood. If this amendment be adopted, no collector can take a cer tified check; he cannottake anything but U.S. notes, and he must car those notes daily to the sub Treasury and 1deposit them there. It is practically impossible to do that. The effect of this amendment, if adopted, will be simply to embarrass and perhaps defeat this bill, because it will meet wrth opposition. It is contrary to the policy adopted by the SecyTreasury. The U.S. Treasurers do not desire to keep these accounts for collectors of internalrevenue. trust, therefore, that the Senator will abandon the amendment, or else that the Senate will vote it down. The bill as it now stands contains nothing about which there is any controversy, and it contains provisions which it is very important to ass.