On the record
The result of this policy of contraction was not only to increase the burden of the public debt, but it created serious derangement of the business of the country.
Source
gutenberg.orgJohn Sherman: “The result of this policy of contraction was not only to increase the burden of the public debt, but it created serious…”
Editor's note · Context
Sherman warns that contraction policies not only increased public debt but also disrupted the economy.
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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.
It was settled by this war that we have a country limited in its powers by the constitution of the United States fairly construed.
Proud of Ohio, of its history and people, willing at all times to sound its praise in the sisterhood of states, yet, according to my convictions, the United States is entitled to my allegiance, and all parts of it should receive equal care…
Our country, our whole country, and nothing but our country" has been the watchword and creed of my public life.
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