After you enacted that law-- the faith of the people of the United States that you would redeem this pledge--the value of your greenbacks advanced, not rapidly, but gradually, and in one year, to within twelve per cent. of par in gold.
He reflects on how the faith in the government's promise to redeem currency positively affected its value.
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More from John Sherman
You have all contributed, more or less, in perverting the public mind as to our principles and purposes.
The tax on spirits, tobacco and beer ought to be retained as the best objects of taxation either of domestic or imported goods.
Our gold dollar is certainly as good a unit of value as the franc; and so the English think of their pound sterling.
Nothing is wanting but cultivation to make this a most delightful country.
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