Felix Frankfurter

“ Justice Brandeis announced in plain terms that, in the absence of express authorization, a national bank has 'no power to make any pledge to secure deposits except the federal deposits specifically provided for by acts of Congress', the opinion of the court spells out such power despite 'the silence of the act.'
In the Texas & Pacific and Marion cases the opinions point out that whenever Congress has intended that security should be taken for deposits of government funds specific authority has been granted. ”

“ Co. v. Pottorff, 291 U.S. page 257, Note 11, 54 S.Ct. page 419, 78 L.Ed. 777; Marion v. Sneeden, 291 U.S. page 268, 54 S.Ct. page 422, 78 L.Ed. 787.↑ 'The measure of their powers is the statutory grant; and powers not conferred by Congress are denied.' Texas & Pacific Ry. v. ”