US Prints $450,000,000 Iinterest Free "Green-backs"

1862

USA

"If I could save the Union without freeing any slave, I would do it; and if I could save it by freeing all the slaves< I would do it; and if I could do it by freeing some and leaving other alone, I would also do that," — Abraham Lincoln August 22, 1862

The US printed $450 Million dollars in interest-free "Green-backs" from the period of 1962 to 1864.

"The government should create, issue, and circulate all the currency and credit needed to satisfy the spending power of the government and the buying power of consumers. -- The privilege of creating and issuing money is not only the supreme prerogative of government, but it is the government's greatest creative opportunity. -- By the adoption of these principles... the taxpayers will be saved immense sums of interest. Money will cease to be master and become the servant of humanity." — Abraham Lincoln

Official Version

Lincoln spent most of his attention on military and diplomatic matters and politics, but with his strong support, Congress and his cabinet established the current system of national banks with the National Bank Act. His Administration increased the tariff to raise revenue, imposed the first income tax, and issued hundreds of millions of dollars of bonds and the first national Greenbacks (paper money). [1]

Unofficial version

Lincoln had plans to reverse the national Bank Act after his reelection.

Lincoln was assassinated 41 days after his reelection.

[1] en.wikipedia.org/wiki/Abraham_Lincoln

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