Mr. GRIMES. As I was saying, the amounts deposited in the country banks are small. The Treasurer makes it a rule not to allow a balance of more than $60,000 to remain in their hands. The bulk of this large amount of money, $47,000,000, is in the or e cities. It is used there as the basis upon which the banks make discounts; and the purpose with which the banks seek to hold these deposits is to inflate the currency, to do the very thing which I understand it is the purpose of this Government to avoid so far as it may be practicable. I may be mistaken, but I should think we had had a warning by the occurrences of the last few months here in this city in this regard. I should think that when a bank, right under the eyes of the Treasury dept, e lodes in the manner in which the NPational Mere ants’ Bank of Washington did, holding some half a million of the public money in its hands, from which I understand the Government will not realize one farthing, that should be a sufficient warning to us in regard to the proper meth ods in which we should dispose of the public deposits. on. I Some inquiry was made of' me just before I rose to speak, as to what was the see c of this ‘irovision. It does not affect any ban s except those within the corporate limits of the cities where there are sub Treasuries. It is said that it will be' some inconvenience to men to procure greenbacks with which to pay their taxes. I do not believe it. if it be, then am in favor of withdrawing more of your national currency and issuing more of your greenbacks, if they are better than your national currency. That is the way to obviate that. I voted against your national banking s stein. Ivoteda inst every amendment to it. believed that tine true sys tem was to issue your greenbacks. I did not believe there could be any better security than they. But now after you have gone on and created your national banks, when we propose to render the Treasury perfectly secure and safe by providing that the public money shall not be deposited with the national banks but shall be deposited with the sub Treasuries, the argument is presented to us that we ought not to allow this national currency to be received in the discharge of public dues, and nothing except the national Preasury notes. Well, sir, I ha not anything to do With bringiii about thateondition of affairs. Ithaving been rought about. it seems to me that the safest and wisest way now is to begin to remedy the evils in which we find ourselves involved by restoring the old sub Treasury system just so far as we can possibly do so.