Again, sir, with a depreciated currency great domestic productions are cut off from the foreign market; for it is impossible that with such a currency we can compete on equal terms with rival nations, whose industry rests upon a specie standard.
Sherman claims that a depreciated currency hinders domestic production's ability to compete internationally.
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More from John Sherman
He took strong ground against the repeal of the Missouri Compromise, and in 1859 was a competitor with me for the position of speaker, but withdrew in my favor after the first ballot.
It is not in my blood and these gentlemen cannot put it there.
Confiscation is not only justified by the laws of war, by the practice of many nations, but it is practiced by our enemies in the most obnoxious way.
That is all we ask, and what we demand at all hazards.
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