He would probably think much the same thing. "Greenbacks" (which is was what the currency printed by the US at the time was called) traded at a significant discount to gold when redemption of demand notes in gold was suspended. [0]
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Re:Post office stamps as currency (1862)
by strictnein on Monday April 17, 2017 @04:33PM
(#14134176)
> "It must either be of intrinsic worth, like metal coins, or represent somebody's credit, -- that of the Government, of a corporation, or of private individuals."
Fiat currency doesn't match any of those, though. It is of no value, not even credit.
One wonders what the author would think of fiat currency, which is what the world uses to-day.