On the record
The attempt at too low a rate of interest would cause the coin to be taken rather than the bond, if we had the article at command,--and would end in a deluge of coin, sweeping away the premium on gold.
Source
gutenberg.orgCharles Sumner: “The attempt at too low a rate of interest would cause the coin to be taken rather than the bond, if we had the article…”
Editor's note · Context
Sumner warns against setting interest rates too low, which could lead to undesirable economic consequences.
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