The next step is a stoppage of specie payment--a total degradation of paper as a currency--unusual depression of prices, the ruin of debtors, and the accumulation of property in the hands of creditors and cautious capitalists.
Jackson warns of the dangers of paper currency leading to economic ruin for debtors.
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It is impossible that any government can continue to exist upon any other principles.
The power, however, is in your hands, and the remedy must and will be applied if you determine upon it.
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