Political Quotes

John Sherman: “Objection had been made that under the first mode resumption would be a process of converting a non-interest bearing…”

On the record
Objection had been made that under the first mode resumption would be a process of converting a non-interest bearing note into an interest bearing note, and that was true, but what right had we, as a nation, or had any bank, or individual, to force in to circulation, as money, its note upon which it paid no interest?
Said by
John Sherman
Ohio

Editor's note · Context

Sherman addresses objections to currency contraction, questioning the legitimacy of non-interest bearing notes.

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