debt of the United States.” It will be perceived that the special object of this amendment was to keep the taxation of the national banks in the hands of the National Government. In this aim Mr. Sumner was sustained by Mr. Chase, the Secretary of the Treasury, who, in a communication to the Chairman of the Senate Committee of Finance, May 9, 1864, said:-- “Under ordinary circumstances there might be no insuperable objection to leaving the property organized under the national banking law subject, as are almost all descriptions of property, to general taxation, State, national, and municipal; but, in the present condition of the country, I respectfully submit that this particular description of property should be placed in the same category with imported goods before entry into general consumption, and be subjected to exclusive national taxation.” Mr. Sumner spoke in the same vein. MR. PRESIDENT,--At last, in this discussion, it is clear that we have come to the place where the road branches in two opposite directions: one toward the support of the whole country, and of that improved currency essential not only to the general welfare, but also to the common defence; and the other toward State rights, State taxation, and State banks. Which road will you take, Sir? Or, stating the case in a different way, it is a question between the national credit, involving the interests of all, on the one side, and certain local pretensions on the other side. It is a question between the whole and a part,--between the life of the Republic and a small percentage of taxation which Senators claim for their States. The enemy is at our gates,--gold is at 180,--and yet Senators hesitate. All are watching, at this moment, the movement of our forces under General Grant, and are longing for victory. Nothing that the country can do to make him strong is left undone. Men, money, supplies, everything is lavished; and only the day before yesterday the Senate voted another $25,000,000. There is another field, where the battle is bloodless, but scarcely less important: I mean the field of finance. If our pecuniary resources fail, it is doubtful if the army and navy must not fail also. But victory on this field would give triumphant strength and vigor to all the operations of Government. There is no argument for the army and navy--ay, Sir, for the present support of the Lieutenant-General of the United States, in the field at the head of our military forces--which at this moment is not equally applicable to the support of the Secretary of the Treasury at the head of our _financial forces_. How different the treatment of these two officers! Everything is given to the one, almost without debate; but little is given to the other without higgling at every stage.