Political Quotes

Martin Van Buren: “The suspension of specie payments in 1837 by the banks having the custody of the public money showed in so alarming a…”

On the record
The suspension of specie payments in 1837 by the banks having the custody of the public money showed in so alarming a degree our dependence on those institutions for the performance of duties required by law that I then recommended the entire dissolution of that connection.
Said by
Martin Van Buren
Democratic · New York

Editor's note · Context

Van Buren reflects on the risks posed by banks' suspension of specie payments and advocates for severing ties with them.

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