On the record
This tax on state bank circulation was a practical prohibition of all state bank paper, and before the time fixed for the commencement of the tax, this circulation entirely disappeared.
Source
gutenberg.orgJohn Sherman: “This tax on state bank circulation was a practical prohibition of all state bank paper, and before the time fixed for…”
Editor's note · Context
Sherman highlights the impact of a tax on state bank circulation, which effectively eliminated state bank paper.
Share
More from John Sherman
It was settled by this war that we have a country limited in its powers by the constitution of the United States fairly construed.
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.
What I have written is no doubt clouded with partisanship, but I would not be honest if I did not express my attachment to my party.
The Union already embraces discordant elements enough without adding others.
Other voices in this conversation
