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- and trade to the
point of extinction. Inflation increased as , the government
4
sought to finance military expenditures by issuing
Treasury notes in large amounts. Its 1814 loan failed
disastrously. The Boston Gazette warned:
"Any man who lends: his money
- to the point
of extinction. The government at Washington·was rushing
toward both bankruptcy and inflation - issuing treasury
notes in large amounts, despite the disastrous failure of
its 1814 loan.
The Boston Gazette warned a_n y soft-minded financiers
· who