On the record
This exception clause saved our public credit by making a market for our bonds, and the coin was paid by foreigners for the privilege of entering our markets.
Source
gutenberg.orgJohn Sherman: “This exception clause saved our public credit by making a market for our bonds, and the coin was paid by foreigners for…”
Editor's note · Context
Sherman emphasizes the importance of a specific clause in maintaining public credit during financial crises.
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More from John Sherman
Though my grateful thanks are due to them and have been often expressed, yet I have felt, as they do, that my duty was to the whole country.
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.
The Union already embraces discordant elements enough without adding others.
The events of the future are beyond the vision of mankind, but I hope our people will be content with internal growth, and avoid the complications of foreign acquisitions.
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