On the record
The only way by which moneys of different kinds and intrinsic values can be maintained in circulation at par with each other is by the ability, when one kind is in excess, to readily exchange it for the other.
Source
gutenberg.orgJohn Sherman: “The only way by which moneys of different kinds and intrinsic values can be maintained in circulation at par with each…”
Editor's note · Context
Sherman explains the necessity of maintaining par value among different types of money through exchangeability.
Share
More from John Sherman
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.
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.
Though my grateful thanks are due to them and have been often expressed, yet I have felt, as they do, that my duty was to the whole country.
Canada and Mexico as independent republics will be more valuable to the United States than if carved into additional states.
Other voices in this conversation
