Funding the American Civil War: A Revolution in Government Finance 1861

Historical Spotlight examines the revolutionary financial methods employed by the Federal government in 1861 to fund the Union army during the American Civil War. We explore how a new monetary system was created, and the implications of borrowing, taxation, and money printing.

Historical Topics Covered:

Morrill Tariff 1861
Salmon P. Chase, Secretary of the Treasury
Confederate Attack on Fort Sumter
The National Debt
War Financing
National Loan 1861
Demand Notes
History of Paper Money in the U.S.
Article 1, Sections 8 and 10 of Constitution
U.S. Treasury Notes
Battle of Bull Run
Indirect Taxes
1861 National Land Tax Bill
Revenue Act of 1861
The Income Tax
The Trent Affair 1861

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