Plan to resume specie payments and reform national banking
Bankers and financial leaders in New York submit a plan to the Secretary of the Treasury proposing a five year path to resume specie payments. The scheme would retire all National Bank notes, establish greenbacks as the sole paper currency, boost Western commerce with ninety million dollars of increased greenback circulation, and reduce the coin interest bearing national debt by three hundred million dollars.
MENTIONED IN THIS ARTICLE
New York
Secretary of the Treasury
West
Reiford
City of
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B.H. Sunderland
A.M. Mayen
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