[472] Webster's bill.
[473] Annals, 13th Cong. 3d Sess. 189-91; Richardson, i, 555-57.
[474] Richardson, i, 565-66. Four years afterwards President Monroe told his Secretary of State, John Quincy Adams, that Jefferson, Madison, and himself considered all Constitutional objections to the Bank as having been "settled by twenty years of practice and acquiescence under the first bank." (Memoirs, J. Q. A.: Adams, iv, 499, Jan. 8, 1820.)
[475] Annals, 14th Cong. 1st Sess. 280-81.
[476] Annals, 1st Cong. 2d and 3d Sess. 2375-82; and 14th Cong. 1st Sess. 1812-25; also Dewey, 150-51.
[477] Catterall, 22.
[478] Dewey, 144.
[479] Sumner: Hist. Am. Currency, 70.
[480] In November, 1818, Niles estimated that there were about four hundred banks in the country with eight thousand "managers and clerks," costing $2,000,000, annually. (Niles, xv, 162.)
[481] "The present multitude of them ... is no more fitted to the condition of society, than a long-tailed coat becomes a sailor on ship-board." (Ib. xi, 130.)