l day Of April, 1880, which they adopt

 as part of this report.
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 The several memorials, presented bv

 snndry citizens of the United S,a,,.s praying Congress to grant them and l iheir associates a charter for new

 palk, With privileges similar 10 those ] noW enjoyed by the Bank of the United

 s3ea,es, ? nave been duly considered by

 the committee. They can perceive no

 adequate motive, however. for creatins,

 q hsw bank instead of contiruiup the

 piesehli but, on the contrary, very .Es1fong objections against adopting ss,oi. q conrsc. The only inducements which can Justly Congress in establishing any

 bank, are exclusively of public ns- lure. The interests of the stockhold-

 CTS, though necessarily iyoh cd as an llncident, IS quite subordinate .consid. Ieration. The maintenance of a uni.

 form currency, and the facilities affor-

 ed for collecting, transferring, ard dis

 bursing the public revenue, are the

 great and paramount objects to be ac~

 compllshed by such an institution, and

 10 sacrifice these 10 the imaginary

 claims of persons who may desire to speculate in the stock of a new insti. tution, would be perverting high pub-

 nc trust to mere individual purposes. With the intimate knowledge of the pecuniary wants and resources of the

 several portions of the Union. which 1t

 masthase acquired by the experience of sixteen years, the present institution is

 doubtless better qualified than any new

 corporation could be, 10 fulfil the great

 public ends of such an establishment.

 in the unquesiionablc ability with which

 Its affairs have been administered for ,tae last ten years, s.i.sl ili the fidelity With which 1t has discharged all it's du-

 tles 10 the Government and to the coup. try, we have an assurance of future usefulness, which tic applicants for new bank certainly could not furnish.

 On the contrary, some of new schemes

 brought forward in the memorial re- |ferred 10 the oommitte, are 50 utterly cxtravagant as to furnish just cause of

 alarm 10 all refiecting men. The pre- sent bank though it has dealt largely in

 pubic surities, and, for several years past, held large amounts of Government stock, has net"i t!s ts .aIlsIi.,g, found it diff. lcult to find employment for a capital of thirty-five millions. in the safe and Legitimate business of banking; yet we have applications to incorporate a bank ingg B company with i capital of fifty mil Hons. The present las not realized more than i've per. cent. on its compar- atlyeiy small capital; yet some of the lproJeetors of new banking schemes pro- pose 10 give q bonus of one million of dollars year 10 the General ard State Governments, for the privilege of bank ling on capital of fifty millions; aud exposltions have been presented to the public, holding out the idea that such q bank might keep in circulation opc hundred millions of its paper, and grant l loans 10 the enormous extent of two hundred millions! In the opinion of the

 committee such projects as these can

 only proceed froma spirit of bold and hazardous speculations of banking and

 nothing in the shape of q pecuniary bo-

 nus could justify Congress in making

 the dangerous experiment of commit- l ting to such hands the great duties of |maintaining a sound currency, and of keeping in safety, and transferring with toat delay or expense, thc revenues of this extensive confederacy.

 An opinion has been sometimes ex- pressed, as plausible perhaps as it is de- lusive, that all the people of the Unit cd States are entitled 10 the option Of subscribing for the stock of bank Of the United States, and that, conse-

 quently, 1t would be s:. as. prefer

 ence to renew the charter of the pre- sent company. If a new bank were

 created, it is almost certain that the

 stock would go into fewer aud less me

 ritorious hands than that of tho present

 bank, and the rest of the people of tho

 United States would have still greater

 cause to complain of their conclusion, ifwhen tie instifutionacquired the pub 1 lie confidence ifs stock should be con siderably above par. Men of accu-

 mulated capital, not engaged in busi-

 ness, and stockholders, are invariably the first subscribers for the stock of |.

 new bank; and il is impossible to con.

 ceivc any substantial reason why the

 present stockholders, who have done 50

 much for the country, should be super seded, at the hazard Of great ps:5alic Edetrinent, merely to, gratiiy the specu-

 iatlng views of a still smaller number | of persons, principally largo. moneyed capitalists and dealers in public stocks.