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HEADQUARTERS MILITARY DIVISION OF THE MISSOURI,
Dear Brother :
Of course I don't profess to understand either your bill or Mr. Morton's. I should like to see a consolidated 5 per cent bond gradually substituted to replace the present bonds, to the extent of 2000 millions, requiring 100 millions annually for interest, and a greenback for the balance of debt, say five hundred millions, and all other paper money withdrawn and prohibited. I think Grant won't commit himself to more than the general idea that the debt is sacred, and leave Congress to devise the ways and means. He will of course try all means of practical economy. I agree with him perfectly that no more money subsidies on land grants should be made now or until the debt is in good shape. . . .
- William Sherman