On the record
Interest-bearing bonds are to be paid with non-interest-bearing bits of paper.
Source
gutenberg.orgEditor's note · Context
Sumner points out the absurdity of paying interest-bearing bonds with non-interest-bearing currency, highlighting a financial inconsistency.
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Let us at all hazards prevent the extension of Slavery and the increase of the Slave Power.
Controlled by such a code, employing such representatives, sustained by such agencies, animated by such Furies, and producing such fruits of tears and bitterness, it must be open to question.
Again I repeat, so long as the War System prevails under the sanction of International Law, these painful incongruities will be apparent.
I am in favor of a tariff for revenue, such a one as will yield a sufficient amount to the treasury to defray the expenses of the government, economically administered.
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