On the record
The rate proposed--two per cent.--I insisted was not too high, because it was only one-third of the profit derived from the issue of paper money without interest, the principal of which was not paid in coin.
Source
gutenberg.orgJohn Sherman: “The rate proposed--two per cent.--I insisted was not too high, because it was only one-third of the profit derived from…”
Editor's note · Context
Sherman defends a proposed tax rate on banks as reasonable compared to their profits from issuing paper money.
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The Union already embraces discordant elements enough without adding others.
The life of a civilian is in what he says or writes, that of a soldier in what he does.
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.
It was settled by this war that we have a country limited in its powers by the constitution of the United States fairly construed.
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