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Speech by Mr Woodbury on Exchequer Board in 1842
In Senate on January 6 1842 Mr Woodbury of New Hampshire opposes referring the Treasury report on a Board of Exchequer to a nine member committee. He argues Kentucky bears heavy exchange losses from bank indulgence, compares paper quality to horses, and questions gains from public exchange selling. He contends exchanges depend on trade habits not a National Bank and warns of partisan favoritism and large overall losses. He dismisses a public paper money plan and cautions against government currency schemes in a difficult fiscal era.
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