Mr. SHERMAN. I know, in the cities where they are deposited. Now, it is convenient to make these depositories in those cities for collectors of the internalrevenue, and the SecyTreasury finds it convenient in making loans; and I have no doubt that the depositof which the Senfrom Iowa spoke in this city was made in the course of negotiating a loan. That is the only Way in which deposits come there; and it was convenient and necessary to make those transactions by depositing in national banks, or otherwise the Government would lose largely, these deposits coming in the form of checks, cer tificates, and drafts from various parts of the U.S., which cannot be received by the Treasurer. Now, in regard to the collectors, take the city of New lork. There are 5 collection districts in that city, scattered all over the city. These collectors receive from the people certified checks, certificates of deposit, and various kinds of commercial instruments. I do not suppose that one dollarin 100is paid in actual currency. It is done by certified checks. To require the collectors daily to go down into Wall street, and deposit this money day by day with the sub Treasurer of the U.S. would be a very inconvenient arrangement for the sub Treasurer; they are all opposed to it; it would be a very inconvenient arrangement for the people, because the people would then be compelled to gather up U.S. notes, for nothing else would be received at the subTreasury, and it would be very inconvenient for the collectors. It would throw upon them additional responsibility and trouble. All these deposits now are secured by U.S. bonds, so that under the existing law there can be no trouble. In the case that occurred here of the Mcrchants’ Bank, that occurred by a clear and palpable violation of the law, where a disbursing officer undertook in violation, not only of the law but of instructions, to deposit money in the Merchants‘ Bank. That is all repealed and modified. This amen ment, if it shall be adopted, will introduce into this bill, which contains but a few simple provisions, a controverted subject upon which there is adifference of opinion. A bill is now pending in the HoRep intended to further secure the U.S. in these deposits, and to limit and qualify the deposits, requiring the SecyTreasury to draw them down to a certain amount, so that they can never exceed the amount of security. It would be a great deal better to leave this difficult question to be settled in that way. We may not pass that measureat this session, but I suppose we shall do so at the next in some form. I trust, therefore, that this important billwill not be embar rassed by a question entirely foreign to it, relating to the national bank system, for it will very seriously embarrass the bill if it is placed upon it. I hope that the Senator and the Senate will allow the bill, which is admitted to contain good features. to pass without encumbering it.