Instead of inflation, of large issues of paper money by the United States and the national banks, there grew up a conviction that the better policy was to limit and reduce the volume of such money to an amount that could be maintained at par with coin.
John Sherman: “Instead of inflation, of large issues of paper money by the United States and the national banks, there grew up a…”
Editor's note · Context
Sherman argues for limiting paper money issuance to maintain its value against coin.
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Our family of states is already large enough to create embarrassment in the Senate, and a republic should not hold dependent provinces or possessions.
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