On the record
The notes rose under the stimulus of this new promise, in one year, from seventy-six cents to eighty-nine cents in gold, but no steps whatever were made to redeem them.
Source
gutenberg.orgJohn Sherman: “The notes rose under the stimulus of this new promise, in one year, from seventy-six cents to eighty-nine cents in gold…”
Editor's note · Context
Sherman discusses the rise in the value of notes due to a new promise, despite no redemption steps being taken.
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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.
It was settled by this war that we have a country limited in its powers by the constitution of the United States fairly construed.
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.
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