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Calhoun on currency reform and tariff origins in 1840 Senate
Speaker argues the tariff of 1828 caused currency distortion and banking crises. He traces the surplus revenue, bank removals, and vast land purchases to a broken system and calls for returning to a Constitution aligned currency backed by gold and silver. He warns against renewing protectionism and urges low duties to secure foreign markets.
MENTIONED IN THIS ARTICLE
Calhoun
Tn Senate
United States
New York
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Bank of the United States
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Bank of England
United States Bank of Pennsylvania
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England
Congress