CHAPTER LXXXIX. BANKS OF THE DISTRICT OF COLUMBIA. The question of continuing the charters of the banks of the District of Columbia came up again at the second session of the twenty-sixth Congress. A bill for that purpose had been reported. To this bill Mr. WRIGHT proposed the following amendment, which was objected to by Mr. Merrick. "SEC. 2. And be it further enacted, That neither of the said banks shall, by virtue of anything in this act contained, be authorized to issue or pay out any note, bill, check or draft of any bank company, incorporation, association or individual, which said note, bill, check or draft shall not be payable and paid on demand in specie at the place where it is made payable; and any violation of this restriction shall be, ipso facto, a forfeiture of all the rights, powers and privileges conferred by this act, in the manner specified in the first section thereof, as to a failure of specie payments." Mr. WRIGHT explained his views in the following remarks: "Mr. WRIGHT did not desire now, at this late stage of the session, to occupy much time on the subject of these bank charters. He had very settled views in reference to proper charters for banking institutions, but it was not his intention to present them here. The proposition before the Senate, as now amended by the honorable Senator from Alabama [Mr. Clay], was simply to renew, or rather revise, the charters of these institutions, and extend them a sufficient time to enable a new Congress to act permanently upon the subject of banks for the District. He did not, in reference to legislation so temporary, wish to discuss the general subject of banking and bank charters. If he could see |