Political Quotes

John Sherman: “There is the moral obligation, on the part of the United States, which has issued its notes payable in coin, but for…”

On the record
There is the moral obligation, on the part of the United States, which has issued its notes payable in coin, but for reasons of public policy does not pay in coin, to give to its creditors its notes bearing interest in place of coin.
Said by
John Sherman
Ohio

Editor's note · Context

Sherman articulates the moral obligation of the United States to honor its financial commitments to creditors.

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