On the record
If, under the law as it now stands, the holder of the 5-20's can only be paid in gold, then we are repudiators if we propose to pay otherwise.
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gutenberg.orgJohn Sherman: “If, under the law as it now stands, the holder of the 5-20's can only be paid in gold, then we are repudiators if we…”
Editor's note · Context
Sherman warns against the implications of not adhering to legal payment standards for bondholders.
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The Union already embraces discordant elements enough without adding others.
Our family of states is already large enough to create embarrassment in the Senate, and a republic should not hold dependent provinces or possessions.
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.
Though my grateful thanks are due to them and have been often expressed, yet I have felt, as they do, that my duty was to the whole country.
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