Monday, May 20, 2013

Lincoln's money woes

According to a House report of early 1863 the war was costing the government a staggering $2.5 million a day [Sundays included], and the government was taking in, from every source imaginable, $600,000 a day.

The future looked even more gloomy; the report went on to claim that in order to finance the war for the coming 18 months the Lincoln administration would have to pry loose from banks, investors and patriotic citizens [whose sons, by the way, were dying in record numbers] an estimated $1billion!

[For the record, the war lasted a full year beyond those 18 months.]

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