" The reason imputed to
Hamilton by Madijon for voting for 100 for 1, which Hamilton did not vote
for, was, that as popular ideas were opposed to the stipulated rate, and as
adopting the current rate might hurt the credit of other securities, which de-
rived their value from an opinion that they would be ttrietly redeemed, it
was best to take an rate leaning to the side of popularity.
Hamilton by Madijon for voting for 100 for 1, which Hamilton did not vote
for, was, that as popular ideas were opposed to the stipulated rate, and as
adopting the current rate might hurt the credit of other securities, which de-
rived their value from an opinion that they would be ttrietly redeemed, it
was best to take an rate leaning to the side of popularity.
Hamilton - 1834 - Life on Hamilton - v2
