On the record
At present rates we would give about $90 of gold for $100 of greenbacks, and then provide for a graduated scale by which we would approach specie payments constantly, and reach it at a fixed day.
Source
gutenberg.orgJohn Sherman: “At present rates we would give about $90 of gold for $100 of greenbacks, and then provide for a graduated scale by which…”
Editor's note · Context
Sherman explains a specific financial strategy for gradually moving towards specie payments, highlighting the conversion rates involved.
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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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