On the record
When two currencies, both legal, are authorized without limit, the cheaper alone will circulate.
Source
gutenberg.orgJohn Sherman: “When two currencies, both legal, are authorized without limit, the cheaper alone will circulate.”
Editor's note · Context
Sherman explains that when two legal currencies exist, the cheaper one will dominate circulation.
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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…
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