I found the following: Sellers, Charles. 1991. The Market Revolution: Jacksonian America, 1815-1846 (NY: Oxford University Press). 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." I could not find anything like this. I asked Sellers, who could not recall his source. Any suggestions? Thanks in advance. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 916-898-5321 E-Mail [log in to unmask]