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.
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…”
Editor's note · Context
Sherman explains that not all currency is redeemable in coin, highlighting the role of legal tenders.
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The Union already embraces discordant elements enough without adding others.
If my life is prolonged I will do all I can to add to the strength and prosperity of the United States, but nothing to extend its limits or to add new dangers by acquisition of foreign territory.
Proud of Ohio, of its history and people, willing at all times to sound its praise in the sisterhood of states, yet, according to my convictions, the United States is entitled to my allegiance, and all parts of it should receive equal care…
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