There  was  a  very  strong  opposition  to  re-
sumption at  that  time,  and  prophets  of
evil  foretold  infinite  disasters  to  the  busi-
ness of  the  country.  It  was  declared  that
the  demand  for  gold  would  be  greater
than  the  supply;  but  when  the  day  came,
and  the  clerical  force  of  the  Sub-Treasury
in  New  York  was  increased  in  order  to  fa-
cilitate the  paying  out  of  gold  for  "  green-
backs "  presented,  they  had  nothing  to  do.
There  was  actually  more  gold  paid  in  than
was  paid  out.  From  that  hour  the  busi-
ness of  the  country  permanently  revived
for  the  first  time  since  the  great  revulsion
of   1873.
By  act  of  Congress,  March  3,  1883,  the
taxes  on  capital  and  deposits  of  banks,
bankers,    and    national    banking    associa-


277


BANKS,    SAVINGS— BANKS,    N.    P.
tions,  excepting  such  as  were  already  due,  jngs   banks    elsewhere,    and   building   and

were  repealed,  and  also  the  stamp  tax  on  loan    associations,    as    well    as    loan    and

bank-checks,  drafts,  orders,  and  vouchers,  trust   companies,   also   act   practically   as

the    latter    provision    to    take    effect    on  savings  banks.
