On the record
With free coinage in these conditions no gold coins would be minted and all the money of the United States would be reduced in value to the sole silver standard, and gold would be hoarded and exported.
Source
gutenberg.orgJohn Sherman: “With free coinage in these conditions no gold coins would be minted and all the money of the United States would be…”
Editor's note · Context
Sherman warns that free coinage under certain conditions would lead to the devaluation of U.S. currency to a silver standard.
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