Mr. DAVIS. Ivoted for the amendment of the honorable Senfrom Iowa in the 1st instance, and I shall vote for it again, because I believe it to be right. I think one of the greatest evils of the pay is a redundant, spurious currency; and I think one of the greatest desiderata of the people is to have a reduction of this currency, that it may appreciate by the reduction and under the influence and 0 wenttion of the reduction. The Senfrom Iowa has told us, as we remember from the report of the deposits, that there are some 40 or fatty millions of the public money deposited in these national banks, and they form the basis of an expansion of the currency of those national banks proportionably. Any measure that will cut oil" the deposits of the Government in the banks from being the basis of an increased circulation I will vote for; and I believe the effect, or one of the effects, of the amendment of the Senfrom Iowa would be to prevent these deposits from bein the basis of circulation issued by those ban s. But it is objected that the collectors are to receive a currency, to wit, the notes of the national banks, which they Callflvf, deposit with the sub Treasur. That might be reme died in 2 lines. If gentlemen desire that tlle sub Treasuries shall be compelled to receive the notes of the banks in syment of Government dues, let them provi e, by a little amendment, that that shall be the fact; that the notes of‘ any of the national banks shall be received by the collectors in payment of taxes, and when he goes to make his deposits to the sub Treasury, that the sub Treasury shall receive those some notes on deposit. It would be the simplest thing in the world for such an amendment or addition to the law to be made, and I think it ought to be made. My knowledge of bankin is so inconsiderable that my opinion is 0 no value on the subject; but I never had any faith or confidence in this national system of banking, and I have not yet. The events that have taken place have not been of a character to increase my confidence. My distrust in this system of banking has rather increased than diminished. But without regard to the merits of the s s tem, I think that every step and every act 0 legislation which Congress can adopt that would restrict the amount of the issues of paper currency ought to be adopted. I believe that if these deposits of 40 or 50 millions that have gone into the banks, were required by law to bedeposited in the sub Treasuries where they could not be the basis of an expansion of the paper currency, the effect would be to some considerable degree to restrict the issue of paper by the banks; and with that belief of the operation of the amendment, I am in favor of it, and shall vote for it.