On the record
It was the power to coin money, because when a bank issued its bill without the restraint of specie payments, it substantially coined money and false money.
Source
gutenberg.orgJohn Sherman: “It was the power to coin money, because when a bank issued its bill without the restraint of specie payments, it…”
Editor's note · Context
Sherman argues that unregulated bank notes are akin to counterfeiting, underscoring the need for strict monetary control.
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