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Autograph Letter, signed ("J. A. Garfield"), as Congressman from Ohio, to J.A. Cowing of New York, regarding Garfield's speech on currency and finance
Washington. DC, 20 june, 1868 - "- I am gratified with your approval of the general spirit and purpose of my speech - and can see much reason to hope that the attention to the subject, will, before long, bring the nation to sensible and honest conclusions on finance - The statement in my speech that to double the currency would double prices, is quite likely too broad to be practically true - You will observe that I was developing the general principle which lies at the foundation of currency - and which is likely to be ___ (?) in its application by many incidental causes. I was careful to guard my language thus: '- BUSINESS REMAINING THE SAME [underlined], doubling the currency will result in doubling prices.' As a matter of fact, the supposed increase of currency would increase speculative business - and somewhat increase the demand for currency, so that the increase of prices would not be quite 100 per cent -" 4to. 2 pp., on folded sheet of engraved letterhead of Fortieth Congress, with vignette of the U.S. Congress. With 2 engraved portraits of President Garfield. Old folds, slightly wrinkled, splitting along fold, in tan morocco-backed clam shell box
      [Bookseller: James Cummins Bookseller, ABAA]
Last Found On: 2013-08-04           Check availability:      AbeBooks    

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