Grateful as was the relief to the people from legal-tender notes, it was apparent to Congress that a government cannot, any more than an individual, maintain a state of solvency by the continuous issuing of irredeemable paper.
James Blaine: “Grateful as was the relief to the people from legal-tender notes, it was apparent to Congress that a government cannot…”
Editor's note · Context
Blaine warns that continuous issuance of irredeemable paper cannot sustain government solvency, paralleling individual finance.
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