"Convertibility" Quotes from Famous Books
 ... amounts sufficient for the useful ends of a representative currency. The other proposed a system of national banks authorized to issue notes for circulation under national direction, to be secured as to prompt convertibility into coin by the pledge of United States bonds and other needful regulations. He discussed these two plans at length, but concluded by recommending a system of national banks, the advantages of which would be uniformity in currency, uniformity in security, an effectual safeguard against depreciation, ...
— Recollections of Forty Years in the House, Senate and Cabinet - An Autobiography. • John Sherman |
