Lincoln had demanded the continuance of the tariff revenue in his inaugural speech, and it was clear that he would have to retain the money flow. Besides, the US Treasury would default within two months of any interruption of the tariffs.
So the Treasury defaulted by June 1861? I must have missed that somehow? Can you provide the date of default?
346 posted on 08/29/2007 1:20:19 PM PDT by Non-Sequitur
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