We delayed this process so long that the popular mind rested content with depreciated money, but the panic of 1873, and the feverish speculation which preceded it, convinced the great body of our business men that there was no remedy for existing evils but a return to specie payments.
Sherman notes the delay in returning to specie payments and how it affected public sentiment and business confidence.
Share
More from John Sherman
This power in the hands of a few is at this moment the disturbing element in many of our great industries.
The tax on spirits, tobacco and beer ought to be retained as the best objects of taxation either of domestic or imported goods.
What a pity, he said, it would have been if so great a country as the United States had been disrupted on account of slavery.
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.
Other voices in this conversation
