CHAPTER X.

THE NATIONAL BANKS. SECRETARY CHASE CONSIDERS THE PROBLEM OF PROVIDING A NATIONAL CURRENCY.—HOW E. G. SPAULDING TAKES A PROMINENT PART IN THE DISCUSSION ON THE BANK ACT.—THE ACT FOUNDED ON THE BANK ACT OF THE STATE OF NEW YORK.—EFFECT OF THE ACT UPON THE CREDIT OF THE COUNTRY.—A NEW SYSTEM OF BANKING REQUIRED. The history of the Bank Act of 1863, improved by the Act of 1864, would require much larger space than I can devote to it in this book. I can only glance at its salient points, and show its gr…