If contraction ought to be established as a policy it should be by Congress, not by the Secretary of the Treasury, and it is not wise to confer upon any officer of the government a power of this kind, which can be and may be properly controlled and limited by Congress.
Sherman insists that any policy regarding monetary contraction should be decided by Congress, not the Secretary of the Treasury.
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We have done no wrong; we have no apologies to make, and no concessions to offer.
What a pity, he said, it would have been if so great a country as the United States had been disrupted on account of slavery.
That is all we ask, and what we demand at all hazards.
Resolved, That the people who constitute the supreme power in the United States, should guard with jealous care the rights of the several states, as independent governments.
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