GDG- Re: CS supply

[Margaret D. Blough]

While Salmon Chase was a complex and controversial figure, he did an incredible job, as Secretary of the Treasury, at keeping the United States' financial head above water. The income tax was implemented under the war powers, which ultimately undid it after the war (which is why Lincoln wanted the 13th Amendment; he regarded the EP as too vulnerable after the war ended) which is why the Constitution had to be amended to permit its institution in the 20th Century.

Regards,

Margaret

-------------- Original message -------------- 
From: Biggsk at aol.com 

> Esteemed GDG Member Contributes: 
> 
> 
> Margaret writes: 
> 
> >>>Not only did the "greasy mechanics" who remained in the workforce assist 
> the Union war effort, but the ones in uniform did as well, in identifying and 
> remedying problems they came across.>>> 
> 
> Much like in World War 2 where the car-crazed GI's often used their own 
> mechanical skills and fixes to keep trucks and tanks rolling. 
> 
> 
> 
> >>>>True, no people who have any degree of democracy can manage to maintain 
> an wartime industrial level indefinitely, but the Union simply had a stronger 
> base to build upon, particularly in the area of railroads. Furthermore, 
> probably due to ideological reasons, the Confederate government was far slower 
> than Lincoln to come to the realization that, in wartime, government control 
> or, at the very least, coordination of certain critical parts of the 
> infrastructure, particularly the railroads was essential.>>>> 
> A total war will eventually bankrupt the nation. In the Spring of 1863 the 
> Union War Department was way behind in paying its bills to suppliers to keep 
> the war going. I know that Lincoln imposed the first income taxes in history 
> but I have not studied this aspect enough to see how they got out of the 
> financial hole. 
> 
> Just before we invaded Iwo Jima in World War 2, the US government was 
> bankrupt! Not a penny in the Federal treasury! It was the win there that 
> enabled 
> a big war bonds drive that pumped further billions into the coffers to win 
> the war. This might not have happened had FDR's tax policy before the war not 
> been so counter-productive to growth, at last to this level as there would 
> have been far more capital in circulation, but the war bonds saved the day 
> financially. 
> 
> 
> Your stated ideological reasons are correct. One side did it - the other 
> did not. Guess who won? 
> 
> Greg Biggs 
> 
> 
> 
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