On the record
The notes were issued with the understanding that they should be paid in coin.
Source
gutenberg.orgEditor's note · Context
Sherman clarifies that the issuance of notes was based on the promise of payment in coin.
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That is all we ask, and what we demand at all hazards.
I wrote an adverse report, but it was suppressed in the committee.
It seems to me that in the present condition of our finances there is no necessity for conferring these large powers on the Secretary of the Treasury.
This power in the hands of a few is at this moment the disturbing element in many of our great industries.
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