Charles Sumner: “It has no present worth beyond the engraving; therefore all ordinary…”

On the record

It has no present worth beyond the engraving; therefore all ordinary checks to undue issue of money are wanting.

Said by

Massachusetts

Source

Sumner points out that inconvertible paper money has no intrinsic worth beyond its physical form.

More from Charles Sumner

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

Early testimony of the Church against, I. 59.

Disunion no remedy for grievances of, VII. 33.

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

Other voices in this conversation

Charles Sumner: “It has no present worth beyond the engraving; therefore all ordinary checks to undue issue of money are wanting.”