I advocated the shorter period, but the House of Representatives, believing that the new bonds would not sell at par unless running for a longer period, insisted that the four per cent. bonds should run for thirty years.
Sherman recounts his advocacy for shorter bond periods in Congress, illustrating the debate over bond terms.
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More from John Sherman
Canada and Mexico as independent republics will be more valuable to the United States than if carved into additional states.
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…
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.
Our country, our whole country, and nothing but our country" has been the watchword and creed of my public life.
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