2025-01 Raynors Historical Collectible Auctions
This lot is closed for bidding. Bidding ended on 1/25/2025
A Pair of imprints, U.S. Senate speeches focused on the Financial Circumstances of the Government. The first, “The Currency. Speech of Justin S. Morrill of Vermont” December 11, 1867’, Washington, 16pp. disbound. Focusing on the economic recovery and reconstruction of the nation following the Civil War, Morrill advocated for protective tariffs to stimulate domestic manufacturing, arguing that it would create jobs, increase wages, and strengthen the nation's industrial base. Morrill also emphasized the importance of sound currency and a stable financial system, calling for the resumption of specie payments and the withdrawal of greenbacks. ... plus, “Speech of Hon. Charles Sumner, The Bill to Fund The National Debt...” July 11, 1868, Washington, 14.pp. The bill to fund the national debt focused on the importance of financial stability and the national honor. Sumner emphasized that the nation had a moral obligation to pay its debts, both to domestic and foreign creditors and argued that sound financial practices were essential for the country's economic recovery and its standing in the international community. He also advocated for a return to a specie-based currency system, believing that it would stabilize the economy and restore public confidence. Following the American Civil War, the national debt of the United States significantly increased, reaching approximately $2.6 billion by the end of the war in 1865, which was a massive jump from the $65 million debt that existed before the conflict began in 1860; representing a more than 40-fold increase.
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