There are two modes of resumption; one is to diminish the amount of notes to be redeemed, which mode is commonly called a contraction of the currency; the other is to accumulate coin in the treasury, to enable the secretary to maintain the notes at par.
Sherman outlines two methods for monetary resumption, emphasizing the importance of currency management.
Share
More from John Sherman
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.
The Union already embraces discordant elements enough without adding others.
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…
It was settled by this war that we have a country limited in its powers by the constitution of the United States fairly construed.
Other voices in this conversation
