The Secretary justly exults in

The Secretary justly exults in

The Secretary justly exults in the advantages of the sound and uniform circulation which he has afforded in all parts of the country. And as to the depreciation of the Treasury notes in comparison with gold, he reasons, with great force and truth, that the greater part of it is attributable to 'the large amount of bank notes yet in circulation,' remarking at the same time, that 'were these notes withdrawn from use, that much of the now very considerable difference between coin and United States notes would disappear.' Whether this belief of the Secretary be well founded or not, nothing can be more certain than the superiority of the Treasury notes to those of the mass of suspended banks, as they would have been after three years of the present war.


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