It overthrew, not only the mode and manner of borrowing money, but the character of our public securities, and was the beginning of a new financial system, unlike anything that had been ventured upon by any people in the world before.
John Sherman: “It overthrew, not only the mode and manner of borrowing money, but the character of our public securities, and was the…”
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gutenberg.orgEditor's note · Context
Sherman describes a significant shift in the government's borrowing practices and the nature of public securities.
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