Less than a year before the government was bankrupt; our bonds bearing six per cent. interest were sold at a discount; our national expenditures exceeded our receipts; loans could only be made upon the basis of coin, and this coin was disappearing from circulation.
Sherman describes the dire financial situation of the government prior to the legal tender act.
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Because it is framed upon the idea that it is the duty of the government, in imposing taxes, to do as little injury to the industry of the country as possible; that they are to be levied so as to extend a reasonable protection to all…
If that party had been content with the compromise of 1850, and had faithfully observed the pledges in its platform, there would have been no Civil War.
It was the same old story of injustice and wrong, of might against right.
The legality of this legislature was denied by the great majority of the people who never acquiesced in or obeyed its enactments, thus taking the only course open to them to secure a lawful government.
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