Amount Quote by G. Edward Griffin
“In the North, the sale of government bonds was the one measure for raising funds that seemed to work. Even that, however, with the lure of compounded interest to be paid in gold at a future date, failed to raise more than about half the needed amount. So the Union faced a real dilemma. The only options remaining were (1) terminate the war or (2) print fiat money. For Lincoln and the Republicans who controlled Congress, the choice was never seriously in doubt.”
About This Quote
Source Book: The Money Machine, 1995, G. Edward Griffin on Civil War financing
Lincoln’s government chose to print fiat money rather than end the war, showing a preference for financial solutions over military defeat.
In simple terms: Lincoln preferred printing money to ending the war.
Key Takeaway
Consider financial tools before drastic actions.
Themes
war finance
political decision
economics
Mood
reflective
serious
Type
historical
political
When to use this quote
- government budgeting
- central banking
- emergency financing
- historical analysis
Key Concepts
fiat currency
war funding
policy trade‑offs
Questions to Reflect On
- What alternatives were truly viable?
- How did public opinion shape the decision?
A Different Perspective
The view simplifies complex political pressures and ignores other constraints.
