Notes not redeemable on demand, and not made a legal-tender, have never been kept at par." Even those who could use them for taxes and duties would, in Mr.
James Blaine: “Notes not redeemable on demand, and not made a legal-tender, have never been kept at par." Even those who could use them…”
Editor's note · Context
Blaine argues that notes not redeemable on demand cannot maintain their value.
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If it be true that war cannot be declared, nor a system of general hostilities carried on by the Central Government against a State, then it seems to follow that an attempt to do so would be ipso facto an expulsion of such State from the…
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