Chapter 83

EFFECT OF THE MARINE NATIONAL BANK AND OTHER FAILURES. Continued Prosperity of the Nation--Arthur's Report to Congress-- Resolution to Inquire into Election Outrages in Virginia and Mississippi--Reports of the Investigating Committee--Financial Questions Discussed During the Session--Duties and Privileges of Senators--Failure of the Marine National Bank and of Grant and Ward in New York--Followed By a Panic in Which Other Institutions Are Wrecked--Timely Assistance from the New York Clearing House--Debate in the Senate on the National Bank System--Dedication of the John Marshall Statue at Washington--Defeat of Ingalls' Arrears of Pensions Amendment to Bill to Grant Pensions to Soldiers and Sailors of the Mexican War--The Senate Listens to the Reading of the Declaration of Independence on July 4.