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.orgEditor'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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More from John Sherman
That is all we ask, and what we demand at all hazards.
I have participated in framing many tariff bills, but have never succeeded in securing one that I entirely approved.
I wrote an adverse report, but it was suppressed in the committee.
I have given my views, speaking for no other man, frankly and fearlessly, and I will stand by them now and in the future.
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