4,2 
POSTAL SAVINGS 
proposed legislation, because it would present a 
purpose on the part of Congress to gather these 
earnings from the people and put them in such a 
position that the Government can call upon them 
whenever it has real need.” 28 
Senator Bailey admitted that the proposed 
amendment might make it possible for the court 
to hold the bill constitutional, but he declared that 
“it would still be none the less unconstitutional, 
according to the conscience of every Senator, be 
cause we all know that its purpose is not to bor 
row money, and to incorporate such a provision 
in it would be a palpable subterfuge invented to 
deny the court the right to consider the bill ac 
cording to its real purpose.” 29 
The Smoot amendment passed the Senate; but 
its further consideration here is unnecessary be 
cause of the radical changes in the investment 
provisions of the bill which were made in the 
House. By these changes the bill, which soon 
became law, was greatly strengthened in its con 
stitutional position, under the clause conferring 
upon Congress the power to borrow money on 
the credit of the United States. It was strength 
ened, however, at the expense of that other fea 
ture which so many believed essential to a satis- 
28 Cong. Rec., Mar. 4, 1910, p. 2761. 
29 Ibid., Mar. 3, 1910, p. 2688.