On the record
If we had chosen to accumulate gold and postpone payments upon the Public Debt, we could have brought the nations of the earth to our feet.
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gutenberg.orgEditor's note · Context
Boutwell reflects on the strategic decision regarding gold accumulation and its potential geopolitical impact.
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More from George Boutwell
In truth, gold plays a small part only in actual business.
In the dark days of 1862 he had never despaired of the Republic, when others faltered, he was undismayed.
Indeed, one may go still further, and say that it is not safe to trust the guidance of the Government in financial affairs to men whose life business it has been to convert information into gold.
He had no policy to impose upon the country against the popular will.
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