One plan proposed the gradual withdrawal from circulation of the notes of private corporations, and the issue in their stead of United States notes, payable in coin on demand, in amounts sufficient for the useful ends of a representative currency.
Sherman describes a plan to replace private bank notes with United States notes to enhance currency reliability.
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More from John Sherman
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.
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.
The events of the future are beyond the vision of mankind, but I hope our people will be content with internal growth, and avoid the complications of foreign acquisitions.
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