The  following  view  of  the  subject  was  taken  by  the  Hon.  Horace
Binney,  in  a  debate  in  the  House  of  Representatives  in  the  year
1834:  "The  Bank  of  the  United  States  has  performed  her  great
offices  to  this  people  by  the  concurrence  of  two  peculiarities  which
belong  to  her — her  structure,  and  her  employment  in  the  collection
of  the  public  revenue.  No  State  banks,  by  any  combination,  can
effect  the  required  exchanges  to  any  considerable  extent.  No
Bank  of  the  United  States,  without  the  aid  of  the  public  revenue,
can  effect  them  to  the  extent  which  the  necessities  of  trade  require.
The  structure  of  the  Bank  of  the  United  States  contributed  to  this
operation  in  a  way  which  every  one  may  comprehend.  The  whole
circulation  of  the  United  States  is  employed  in  effecting  the  ex-
change of  the  crop  and  the  merchandise  of  the  country.  It  is
employed  in  transporting  the  crops  to  market,  and  merchandise  to
the  places  of  its  consumption.
