But the reason of the refusal of Congress to grant this authority, often asked of it, was that it would contract the currency, and this fear of contraction has thus far prevented Congress from granting the easiest, plainest, and surest mode of resumption.
Sherman discusses Congress's hesitance to grant authority for currency contraction, impacting monetary policy.
Share
More from John Sherman
Our family of states is already large enough to create embarrassment in the Senate, and a republic should not hold dependent provinces or possessions.
The life of a civilian is in what he says or writes, that of a soldier in what he does.
During forty years of public life, though many able men have aspired to the office I hold, the people of Ohio, through their general assembly, have preferred me to represent them.
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.
Other voices in this conversation
