On the record
Yet, in spite of this, Congress has repeatedly refused to allow notes to be issued by national banks, to the par value of bonds deposited on security, thus limiting the amount of bank notes unreasonably.
Source
gutenberg.orgJohn Sherman: “Yet, in spite of this, Congress has repeatedly refused to allow notes to be issued by national banks, to the par value…”
Editor's note · Context
Sherman criticizes Congress for limiting the issuance of bank notes despite high bond values.
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