The legal tender act, with its provision for coin receipts to pay interest on bonds, whatever may be said to the contrary by theorists, was the only measure that could have enabled the government to carry on successfully the vast operations of the war.
John Sherman: “The legal tender act, with its provision for coin receipts to pay interest on bonds, whatever may be said to the…”
Editor's note · Context
Sherman defends the legal tender act as essential for the government's financial operations during the war.
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