This Day in History: March 20

The only public intelligence I have to communicate, is that the great and progressive depreciation of the paper currency had introduced such disorder and perplexity into public affairs, for the present, and threatened to load the United States with such an intolerable burden of debt, that Congress have thought it expedient to convert the 200,000,000 of dollars now in circulation into a real debt of 5,000,000, by establishing the exchange at 40 for 1...[More]