On the record
It not only compelled the United States to pay the large war rates of interest for many years, but postponed specie payments until 1879.
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gutenberg.orgJohn Sherman: “It not only compelled the United States to pay the large war rates of interest for many years, but postponed specie…”
Editor's note · Context
Sherman discusses the consequences of a financial policy that delayed specie payments and increased interest rates.
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More from John Sherman
If my life is prolonged I will do all I can to add to the strength and prosperity of the United States, but nothing to extend its limits or to add new dangers by acquisition of foreign territory.
It was settled by this war that we have a country limited in its powers by the constitution of the United States fairly construed.
The events of the future are beyond the vision of mankind, but I hope our people will be content with internal growth, and avoid the complications of foreign acquisitions.
What I have written is no doubt clouded with partisanship, but I would not be honest if I did not express my attachment to my party.
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