Mr. JOHNSON. I voted for the amendmentof the honorable member from Iowa, but it was under a misap rehension, as I find, of what the law is, which seems to me to affect the question. I understand now the law to be that a collector is obliged to receive. if tend ered to him in payment of taxes, the national bank currency. The law of the sub Treasury is that they are not to receive anything but legal tender notes. In a city like NewYork, or any of the larger cities, the habit is univer sal of receiving indorsed checks as equivalent to the iiotesof' the bank upon which the checks are drawn. It facilitates the transactions between man and man, and, of course, the transactions as between the tax ayer and the tax collector. If you compel the tax collector, as he is compelled by law, to receive the national bank currency, you throw upon him the duty, if you do not permit him to deposit it in the national banks, of converting that currency into legal tender notes, and it' he receives, as he is obliged to receive I mean by “being obliged to receive" because he cannot well ct on without it, without creating very great is satisfaction and accomplishing no good if he receives indorsed checks, you compel him not only to go to the bank upon which the checks are drawn, which the bank has the right to pay in national currency, but after he has received that currency for the amount of the checks, he is obliged to go into the market again and convert it into legal tender notes. Now, with my friendfrom Iowa, I see the danger and that has been practically illustrated recently of leaving these large amounts on deposit in the national bunks; but then there are other things to be considered. As long as the national banks are in existence, and the sub Treasury system is in existeiice, we must so legislate and so provide that each shall get on without unnecessarily embarrassin the public; and I do not see, as the whole subject is placed under the control of the SecyTreasury, who may limit the amount in the national banks, and in whom we ought to have confidence, in whom we must have confidence in relation to all matters of the currency, that there would be any very great danger in suffering those collectors to deosit in the national banks, instead of coinpe ling them to deposit in the sub Treasury, which would throw upon them the burden of converting what you compel them to receive into legal tender notes. I shall, for these reasons, change the vote which Igave upon the proposition when it was in committee.