The proposed issue of government notes guards against this effect of inflating the currency by the provision to convert them into government bonds, the principal and interest of which, as before stated, are payable in specie.
Blaine explains how government notes can prevent currency inflation by being convertible into bonds.
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I am in no boastful mood: I shall not do more than I can, but I shall do all I can to save the Government, which is my sworn duty as well as my personal inclination.
Many Northern Democrats had indeed given the assurance that if any attempt at coercion should be made by the Republican National Administration, they would themselves meet it with force, and that, if war should come, it would be in the…
In turn, the course of the National Administration would certainly be influenced, and its fate in large degree determined, by the conduct of the Southern men, in whom the President was placing unbounded trust.
In my judgment our sole authority for the acts which we have done during the last four years was the authority communicated to Congress by the Constitution to suppress insurrection.
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