On the record
Advocates of protection had found the drain of our specie the proximate cause of the financial panic of 1857.
Source
gutenberg.orgJames Blaine: “Advocates of protection had found the drain of our specie the proximate cause of the financial panic of 1857.”
Editor's note · Context
Blaine identifies the drain of specie as a key factor contributing to the financial panic of 1857, linking economic policy to crisis.
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All these provisions are made to protect the States, not to authorize an attack by one part of the country upon another; to preserve the peace, and not to plunge them into civil war.
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