John Sherman
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In our eReader you can find the full English version of the book. Read John Sherman Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book John Sherman
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These fell due on the 1st of January, 1863. The question arose whether they should be paid in cur- rency or in coin, there being no specification in the NATIONAL DEBT 211 contract. An opposition member of Congress pre- sented a resolution adopted December 16, 1862, asking the Secretary to report how he proposed to pay. January 5, 1863, an answer was given, stating that he had already paid in coin. The answer gives a list of the names of all the holders of the bonds, and the Secretary says: "My ...judgment was determined in favor of payment in coin not merely by the weighty considerations growing out of its beneficial influences on public credit, but by the circumstance that I found myself able to obtain the needed specie at a cost so small that payment in coin was, in fact, a less inconvenience to the Treasury, and a less inter- ference with payments to and for the army and navy than pa}Tnent in notes would have been. The whole amount of coin required was advanced by moneyed insti- tutions, most of which, it is believed, had no interest in the loan, nor any interest in the transaction except what arises from the general support of the public credit.
What to read after John Sherman?
You can find similar books in the "Read Also" column, or choose other free books by Burton, Theodore E. (Theodore Elijah), 1851-1929 to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
These fell due on the 1st of January, 1863. The question arose whether they should be paid in cur- rency or in coin, there being no specification in the NATIONAL DEBT 211 contract. An opposition member of Congress pre- sented a resolution adopted December 16, 1862, asking the Secretary to report how he proposed to pay. January 5, 1863, an answer was given, stating that he had already paid in coin. The answer gives a list of the names of all the holders of the bonds, and the Secretary says: "My ...judgment was determined in favor of payment in coin not merely by the weighty considerations growing out of its beneficial influences on public credit, but by the circumstance that I found myself able to obtain the needed specie at a cost so small that payment in coin was, in fact, a less inconvenience to the Treasury, and a less inter- ference with payments to and for the army and navy than pa}Tnent in notes would have been. The whole amount of coin required was advanced by moneyed insti- tutions, most of which, it is believed, had no interest in the loan, nor any interest in the transaction except what arises from the general support of the public credit.
What to read after John Sherman?
You can find similar books in the "Read Also" column, or choose other free books by Burton, Theodore E. (Theodore Elijah), 1851-1929 to read onlineMoreLess
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