On the record
The depreciation of paper money is not necessarily caused solely by its excess, but by the uncertainty of its value and confidence in its redemption.
Source
gutenberg.orgJohn Sherman: “The depreciation of paper money is not necessarily caused solely by its excess, but by the uncertainty of its value and…”
Editor's note · Context
Sherman identifies factors contributing to the depreciation of paper money beyond mere excess, focusing on value uncertainty.
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During forty years of public life, though many able men have aspired to the office I hold, the people of Ohio, through their general assembly, have preferred me to represent them.
What I have written is no doubt clouded with partisanship, but I would not be honest if I did not express my attachment to my party.
Our country, our whole country, and nothing but our country" has been the watchword and creed of my public life.
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