Who paid for the Civil War?

posted by
May 22, 2011
Strike the Root
by George F. Smith  
Posted in Commentary

"In January, with Demand Notes eroding in value, Lincoln turned to former political rival Colonel Edmund Dick Taylor, the only man to ever beat him in an election (1832), who suggested the government issue new Treasury notes bearing no interest but printed 'on the best banking paper.' Lincoln took his advice, and on February 25, 1862 signed the First Legal Tender Act authorizing the Treasury to issue a fiat paper currency that rose to infamy under the name of 'greenbacks.'" (05/20/11)


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