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Updated: June 11, 2025
He hated a long war at any time, and was always ready to abandon an enterprise when he could not carry out his projects by a coup de main. The war was extremely unpopular in France. Financial ruin had come upon many Frenchmen from the failure of the Mexican bonds negotiated by the banker, Jecker, to pay interest to their bond-holders. The Civil War in the United States was at an end, and Mr.
The bullion so obtained was to be coined into silver dollars, which were to be legal tender for all debts public and private. Bland was ready to accept the compromise because he hoped to be able to increase the use of silver by subsequent legislation. "If we cannot do that," he said, "I am in favor of issuing paper money enough to stuff down the bond-holders until they are sick."
They resist the payment when due, but when an officer is found willing to extend them before they are due all trouble is avoided and the accretions of interest are not interrupted for a day. Those who hold the bonds of a nation direct its destinies. The nation borrowing is servant to the lender, just as an individual. The nation compromises its freedom and becomes the slave of its bond-holders.
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