He was active in that almost interminable discussion concerning a United States Bank. The first bank, chartered in 1791, had Hamilton for its defender, and Jefferson for its opponent. In 1811, the bank failed to obtain a renewal of its charter. During the war of 1812, the subject was again urged. The Jeffersonians were opposed to any bank; another party favored a bank which should help the government by heavy loans, and be relieved from paying its notes in specie; still another party, to which Webster belonged, favored a bank with reasonable capital, compelled to redeem its notes in specie, and at liberty to make loans or not to the government. On the subject of the currency he made some remarkable speeches, showing a knowledge of the subject perhaps unequalled since Hamilton. The bank bill passed in 1816, shorn of some of its objectionable features. On April 26, Mr. Webster presented his resolutions requiring all dues to the government to be paid in coin, or in Treasury notes, or in notes of the Bank of the United States, and by a convincing speech aided in its adoption, thus rendering his country a signal service. During this session of Congress, Webster received a challenge to a duel from John Randolph of Roanoke, and was brave enough to refuse, saying, "It is enough that I do not feel myself bound, at all times and under any circumstances, to accept from any man, who shall choose to risk his own life, an invitation of this sort." The time had come now in Mr. Webster's life for a broader sphere; he decided to move to Boston. His law practice had never brought more than two thousand dollars a year, and he needed more than this for his growing family. Besides, his house at Portsmouth, costing him six thousand dollars, had been burned, his library and furniture destroyed, and he must begin the world anew. The loss of property was small compared with another loss close at hand. Grace, the beautiful, precocious first-born, the sunshine of the home, died in her father's arms, smiling full in his face as she died. He wept like a child, and could never forget that parting look.