Charles Sumner: “As the volume of currency is increased, the purchasing power of each…”

On the record

As the volume of currency is increased, the purchasing power of each dollar is reduced in proportion.

Said by

Massachusetts

Source

Sumner explains the inverse relationship between the volume of currency and the purchasing power of money.

More from Charles Sumner

His loyalty to the Declaration of Independence, XIX. 317.

Consent of the governed necessary in forming new governments of, XII. 298.

Slavery and the: speech in New York, XI. 433.

Women’s National League, petition of, for universal emancipation, X. 300.

Other voices in this conversation

Charles Sumner: “As the volume of currency is increased, the purchasing power of each dollar is reduced in proportion.”