On the record
While the government had been issuing its paper money some of the banks were inflating the currency, by issuing paper money on the basis of United States money.
Source
gutenberg.orgJohn Sherman: “While the government had been issuing its paper money some of the banks were inflating the currency, by issuing paper…”
Editor's note · Context
Sherman warns about the inflationary practices of banks during the issuance of government paper money, indicating a risk to the economy.
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