"I maintain that Congress is bound to take care, by some proper means, to secure a good currency for the people; and that, while this duty remains unperformed, one great object of the Constitution is not attained. If we are to have as many different currencies as there are States, and these currencies are to be liable to perpetual fluctuation, it would be folly to say that we had reached that security and uniformity in commercial regulations, which we know it was the purpose of the Constitution to establish. The banks may all of them resume to-morrow—I hope they will; but how much will this resumption accomplish? It will doubtless afford good local currencies; but will it give the country any proper and safe paper currency, of equal and universal value? Certainly it cannot, and will not. Will it bring back, for any length of time, exchanges to the state they were in, where there was a National currency in existence? ...it will not. We may heap gold bags upon gold bags, we may create what securities, in the constitution of local banks, we please, but we cannot give to any such bank a character that shall insure the receipt of its notes, with equal readiness, everywhere throughout the valley of the Mississippi, and from the shores of the Gulf of Mexico to the St. Lawrence. Nothing can accomplish this, but an institution which is National in its character. The people desire to see, in their currency, the marks of this nationality. They like to see the spread eagle, and where they see that, they have confidence."