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Sellers, Charles. 1991. _The Market Revolution: Jacksonian America,
1815-1846_ (NY: Oxford University Press), p. 135: A Philadelphian explained
to David Ricardo the tacit conspiracy not to demand specie, "The whole of
our population are either stockholders of banks or in debt to them." "It
is not in the interest of the first to press the banks and the rest are
afraid." Anyone who demanded specie "would have been persecuted as an
enemy of society."
Sellers gives an incorrect source and cannot remember where he got it.
Maybe someone knows about this one.
--
Michael Perelman
Economics Department
California State University
Chico, CA 95929
Tel. 916-898-5321
E-Mail [log in to unmask]
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