Spring cap holders are, I am sure, too delicate for rough travel.
This came about through the sudden rise in the public funds, and the promptness with which speculators bought them up from holders who were ignorant of their value.
He brought forward a project to pay the original holders the difference between par and the price at which they had sold, and to pay to the present holders only what they had paid for the securities.
I have tried metal holders, but I much prefer the simple quill, on account of its elasticity and lightness. A little binding with waxed thread, may be put on, as shown in the sketch, to prevent the quill from splitting.
Agents were soon scouring the country, buying up the certificates of the debt in all its varied forms, before the news of Hamilton's great report had reached the humble holders, some of whom were old soldiers or quiet farmers who had been compelled to furnish supplies for the army.
But it was so obvious that a distinction between the holders of the debt would run directly counter to its character as negotiable paper, and would be almost impossible of just execution, that the friends of the funding project easily had the best of the argument. Madison, although inclined to oppose Hamilton, was forced to admit that the debt must be funded at par without discrimination.