Political Quotes

John Sherman: “One- half of this circulation is not redeemable in coin at all, but in legal tenders; nor does the law fix a premium on…”

On the record
One- half of this circulation is not redeemable in coin at all, but in legal tenders; nor does the law fix a premium on coin as against legal tenders, but simply requires an equality.
Said by
John Sherman
Ohio

Editor's note · Context

Sherman explains that not all currency is redeemable in coin, highlighting the role of legal tenders.

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