2264. DOLLAR, Reducing Value of.—
With respect to the dollar, it must be admitted
by all the world, that there is great uncertainty
in the meaning of the term, and therefore
all the world will have justified Congress
for their first act of removing the uncertainty
by declaring what they understand by the
term; but the uncertainty once removed,
exists no longer, and I very much doubt now
a right to change the value, and especially to
lessensit. It would lead to so easy a mode
of paying off their debts. Besides, the parties
injured by this reduction of the value would
have so much matter to urge in support of the
first point of fixation.—
To Alexander Hamilton. Washington ed. iii, 330.
(1792)
