The only danger in our present currency is that the amount may be increased to a sum that cannot be maintained at par with coin, but the same or a greater danger would exist if the volume of paper money should be left to the interested opinion of bankers alone.
John Sherman: “The only danger in our present currency is that the amount may be increased to a sum that cannot be maintained at par…”
Editor's note · Context
Sherman warns against allowing bankers to control the volume of paper money, as it could lead to instability.
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