Political Quotes

John Sherman: “This act also provided for the issue of a large increase of non-interest bearing treasury notes, which were made lawful…”

On the record
This act also provided for the issue of a large increase of non-interest bearing treasury notes, which were made lawful money and a legal tender in payment of all debts, public or private, within the United States, except for duties on imported goods and interest on the public debt.
Said by
John Sherman
Ohio

Editor's note · Context

Sherman discusses the issuance of non-interest bearing treasury notes as a significant financial measure during the war.

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