Funding the American Civil War-1861: A Revolution in Government Finance
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- Опубликовано: 5 окт 2024
- Historical Spotlight examines the revolutionary financial methods employed by the Federal government to fund the Union army during the American Civil War in 1861. 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
Portland Chase learned what he knew about banking and national currency at the Bank of the United States in whose behalf in his younger days he occasionally appeared as attorney.
Thaddeus Stevens, from 1824, was an attorney of the Bank of the United States; where he learned about central banking and national currency. He was a radical reconstructionist.
Fort Sumter was not federal property. It belonged to South Carolina, which allowed the federal gov't to use the land by treaty. After SC seceded, the land was no longer available to a foreign country (the US) to use. Lincoln's Sec of State assured SC that the Fort would be evacuated of federal personnel up until the day Lincoln sent the ship, accompanied by three fully armed warships, to resupply the Fort. When the assurance that the Fort would be evacuated proved to be a lie, SC and the CSA had no choice but to reduce the Fort. Lincoln very cleverly manipulated the "firing of the first shot" of the War. "Lincoln and Fort Sumter", Charles Ramsdell. This article can be found in its entirety in the book "Slavery Was Not the Cause of the War Between the States" by Gene Kizer, Jr. (2014). Charleston Atheneum Press, Charleston: SC.
One could argue that the CSA was never a foreign country. The South was only ever in rebellion against the Union and the CSA was never recognized by any other foriegn country. And the war was about slavery otherwise SC and other Southern states wouldn't have secceded as soon as Lincoln was elected in 1860.
Are you sure Lincoln had a history of being against slavery before the Emancipation Proclamation, which he said himself was a war measure? Have you done your own research or are you just parroting what you were taught in US gov't-funded schools?
I never went to a public school. I never said Lincoln was openly against slavery before the war either. If you look at all of the Southern newspapers at the time of seccession they are all talking about slavery, not states rights. The strange thing about the Civil War is the South has usually been the one telling the history of it. All of the arguments about State's rights came after the war by people like Jefferson Davis. And if it was not about slavery then why did they seccede come Lincoln's election? Its just such a myth that has been proven wrong over and over again by so many Historians.
Henry McCarthy Have you looked at "all the Southern newspapers" from before the War?
EXACTLY! How in the world could it be United States property ON Confederate States of America land. The United States Constitution is very clear on this. The State within the United States has to grant permission, an agreement before any fort or magazine can be placed in it. THIS IS COMMONSENSE! Washington DC gets 10 square miles maximum to operate, they can't march around taking State land, it is silly for any United States citizen to think Washington DC can take any state property. South Carolina seceded from the Union in December of 1860, the United States should have been evacuating that fort long before secession. The Fort Sumter guards Charleston harbor, which belongs to South Carolina. The United States has NO USE FOR IT AT ALL in December of 1860.
The reluctance of this video to laud the role of the greenback and not mention Mr. Taylor's role in bringing this about (instead of Salmon Chase); The bad mouthing of the the original fiat money, the Continental, while not mentioning that the inflation was caused by British counterfeiting, ... I have to vote no as to its value.
Joel, tell me about British counterfieting.
😢😢😭😭
"Civil War"? I am one who embraces the belief that a more accurate descriptive label for the war is "The War of Northern Aggression" and "The War for Southern Independence"!
Yes. The War for Southern Independence is the description used by the Sons of Confederate Veterans, I believe. I usually just say "the War". But people know to which war I am referring by the context.
Karen, I do appreciate a fascinating conversation with an intelligent woman who is interested in American history.
Thanks, me, too! I love American history, especially concerning American Indians and the War. Both histories have been heavily modified to fit the narrative that is propagated in our schools. I love to learn the truth. This doesn't mean I don't love America, though.
I prefer "The War to Prevent Southern Independence".
hvymettle oh, that's a good name for it.
Legitimate United States Notes and Federal Reserve Notes did not contain superfluous commentary. “IN GOD WE TRUST” appeared on illegitimate, non-redeemable, non notes. The Federal Reserve Note is worthless as a valid legitimate, promise to pay money, credit instrument.
The people of the United States of American, through their state legislatures, granted the United States government Article 1, section 8 of the United States Constitution. “The Congress shall have the power…to coin money, regulate the value thereof.” This power granted by the people was vested only in the United States Congress. Congress delegated this power in violation of the United States Constitution.
“Congress cannot delegate or sign over its authority to any individual, corporation or foreign nation.” 16th Corpus Juris Secundum, § 141.
“The powers of the legislature are defined, and limited; and that those limits may not be mistaken, or forgotten, the constitution is written. To what purpose are powers limited, and to what purpose is that limitation committed to writing, if these limits may, at any time, be passed by those intended to be restrained? The distinction, between a government with limited and unlimited powers is abolished, if those limits do not confine the persons on whom they are imposed, and if acts prohibited and acts allowed, are of equal obligation. It is a proposition too plain to be contested, that the constitution controls any legislative act repugnant to it; or, that the legislature may alter the constitution by an ordinary act.”
U.S. Supreme Court in Marbury v. Madison, 5 U.S. 368
“The general rule is that an unconstitutional statute, whether federal or state, though having the form and name of law, is in reality no law, but is wholly void, and ineffective for any purpose, since unconstitutionality dates from the time of its enactment, and not merely from the date of the decision so branding it. No one is bound to obey an unconstitutional law and no courts are bound to enforce it.”
16th American Jurisprudence, § 256, 2nd Ed.
conferderates voted to leave the union; the union say no. sounds like brexit
what bullsh*t is this? I cannot imagine a proud Briton considering himself European. What Irishman is European? Is there a Scotsman who wouldnt smash your mouth in for calling him "euro?" Absolute garbage, my dude.
Are these contents quoted from a book or books? I wonder if I can read these in one book.
In the video, some slides tell you the page numbers
Where can I find the source and/or reference material for Dix's address to congress on the state of the treasury in 1861?
Please take music out of future shows.
Nice reporting, music distracting.
Triggered? Maybe they should use a different background music them cuz it would be more boring without it.
The Age of Deception, wow look at all the Tartarian buildings that were assumed.
This happened because of the way the Europeans are mistreating God's chosen people and if you think that was something you ain't seen nothing yet.
I'kdop