that the Treasury notes of the government should only be received by the different banks from their customers as "a special deposit to be paid in kind;" and it was one of the lessons of the war, that notices containing the announcement above quoted remained posted in the New York banks until a high premium on those very notes, over the dishonored greenbacks, caused a shrewd depositor to demand of the bank his deposits in kind. The demand was settled by a delivery of greenbacks, which were a full legal tender for the purpose, and the notices suddenly disappeared. The compromise effected between the two Houses resulted in the issue of the emasculated greenback, and it also led the way to the establishment of the National Banking system, and the issue of the promissory notes of the banks to be used as money. Much of the force of all criticism of the system so devised has been weakened by the fact that the attack has been aimed at the banks themselves, and not against one special feature of the system. In explanation, though not in excuse for this, should be stated the fact that every issue of the annual finance report of the government contained the special pleadings of the comptrollers of the currency, concealing some facts, misstating others, and creating thereby the impression that they were endeavoring to win the favor of the banking institutions. Added to this were the efforts of those controlling the national bank in the great money centres to secure a permanency of the note-issuing feature of their system, after a very general public sentiment against it had been aroused, and even after its evil effects had been felt by smaller banks located among, and supported more directly by, the producing classes. But now, when the discussion is removed from the arena of politics, when the volume of the bank-note system is rapidly disappearing, and when many of the best and strongest banks are seeking to be relieved from the burden of note-issuance, it is opportune to discuss calmly and without prejudice the wisdom of the original acts and their effects upon the country.