ORIGIN OF THE FREEDMEN’S SAVINGS BANK 25 
Congress. A bill to incorporate the Freedmen’s 
Savings and Trust Company was introduced into 
the Senate by Henry W. Wilson of Massachu- 
setts, on February 13, 1865. It was referred to 
the Committee on Slavery and Freedmen, of 
which Charles Sumner was chairman. On Febru- 
ary 18, Senator Sumner reported the bill with 
slight changes and on March 2 moved its con- 
sideration. In answer to an objection Sumner 
Stated that it conferred no extraordinary privi- 
leges, that it was an ordinary savings bank char- 
ter, and that its “object is a simple charity.” 
Senator Buckalew, of Pennsylvania, a member 
of the committee that considered and reported 
the bill, said that the only question was “whether 
we ought to establish such an institution outside 
of the District of Columbia.” Senator Powell, 
of Kentucky, objected that the bill gave “a rov- 
Ing kind of commission for these persons to 
establish a savings bank in any part of the 
United States.” “I think,” he said, “the bill is 
Wholly unconstitutional. I do not believe that 
Congress has any right to establish a savings 
bank outside of the District of Columbia.” 
. An amendment was then adopted which lim- 
Ited the location of the bank to the District of 
Columbia, and the bill was passed by the Senate. 
The next day, March 3, one day before the end 
of the session, Representative Eliot of Massachu- 
Setts introduced into the House a bill which was 
Supposed to be the one which had been passed 
by the Senate, but upon examination it was 
found that the amendment limiting the location 
of the bank to the District of Columbia had not