I confess, Mr. president, that the more I reflect on this subject, the more clearly does my mind approach the conclusion that the creation of state banks, for the purpose and with the power of circulating paper, is not consistent with the grants and prohibitions of the constitution.
Sherman concludes that state banks circulating paper currency contradict constitutional provisions.
Share
More from John Sherman
How can we avert a calamity at which humanity and civilization shudder?
I worked hard that winter, for hard work, I thought, was the way to fortune.
Because it is framed upon the idea that it is the duty of the government, in imposing taxes, to do as little injury to the industry of the country as possible; that they are to be levied so as to extend a reasonable protection to all…
Morrill's bill is a great improvement on the tariff of 1857.
Other voices in this conversation
