Mr. PAINE.Mr. Speaker, I suppose that we are all seeking to accomplish the same object; but I am comelled to disagree with the Gentfrom NewYork [Mr. CONK use in respect to the amendment which he has submitted. Now, sir, section 50 of the present law provides for a case in which the bank shall have refused to redeem its circulating notes; and it authorizes the Comptroller of the Currency to appoint a receiver to wind u the affairs of the bank; and it is provided at if the bank shall satisfy the chancellor that it has not refused to redeem its circulating notes, an injunction shall be issued, and the receiver shall be restrained. If the amendment suggested by the Gentfrom NewYork Should be adopted, what will be there sult? Let us take a case in which the Comp troller shall have undertaken to close up the affairs of a bank, either because that bank was not carrying on a legitimate banking business, or because it has rendered falsenor fraudulent reports, or because its funds have been misapplie, or because it has violated some other provision oflaw. Ifthe amendmentbeadopted, then, although the Comptroller shall have commenced proceedings against this banking institution for one of the reasons I have named, the instituti n may come in and showwhat? Not that it has been innocent of any violation of law in either of the 4 particulars I have named, but that it has not violated the law in a 5th particular, which is not covered by this ease. up use, for example, that the crap troller shall institute these proceedings because the bank has rendere false accounts. The bank comes in and shows that it has not refused to redeem its circulating notes; and then further proceedings may be restrained by injunction. I can see no propriety in this. If proceedings had been commenced by the Comptroller against the bank and a receiver had been appointed, because the bank had rendered false accounts, then it seems to me that the only manneriu which the bank should be allowed to escape from those proceedings should be by showing that it has not rendered false accounts. But if you adopt the amendment the bank, by showing that it has not refused to redeem its circulating notes, may relieve itself from proceedings instituted against it because it has rendered false accounts. So if proceedings have been instituted against a bank because it has not been carrying on a legitimate banking business, the bank can come in and show that it has not refused to redeem its circulating notes; and all the proceedings of the Comptroller and receiver may be restrained. Now, I have offered an amendment which applies to all 4 of these cases which applies precisely the same remedy in these 4 cases that is applied in the other case, when a bank has refused to redeem its circulating notes. The provision of my amendment is that if the bank shall come in and show it is carrying on a legitimate business when it shall be charged with not carrying on such a business, it shall be relieved from all proceedings of the receiver. If it shall show it has not rendered a false account it shall be relieved from these proceedings. If it shows its funds have not been misapplied the amendment will relieve the ank.