Their possible use as currency is certainly no objection to them; for, though I adhere as strictly as anyone to a specie standard of value, I think that, it being constantly maintained by ample reserves and prompt redemption, current money in different forms should be provided for daily use.
John Sherman: “Their possible use as currency is certainly no objection to them; for, though I adhere as strictly as anyone to a specie…”
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gutenberg.orgEditor's note · Context
Sherman argues for the acceptance of diverse forms of currency as long as they are backed by reserves and can be redeemed.
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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.
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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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