On the record
The reason for this is made all the more apparent when the Government issues an interest-bearing debt to provide gold for the redemption of United States notes--a non-interest-bearing debt.
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gutenberg.orgWilliam McKinley: “The reason for this is made all the more apparent when the Government issues an interest-bearing debt to provide gold…”
Editor's note · Context
McKinley highlights the contradiction of issuing interest-bearing debt to redeem non-interest-bearing debt.
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