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Unidentified Speaker, -
HOESOCIETY'S 2012 SYMPOSIUM. FIRST FERG US BORDEWITCH THEN JENNY BOURN TALKS ABOUT HOW THE WAR WAS FINANCED. THIS IS OVER AN HOUR AND 15 MINUTES....
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| 00:00:42 |
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BOOKS INCLUDING MOST RECENTLY AMERICA'S GREAT DEBATE WHICH IS OF FABULOUS READ ON THE DEBATE OVER THE COMPROMISE OF 1850. THE MOMENT WHEN HENRY CLAY...
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| 00:02:16 |
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PERFECTLY WELL. FIRST, LET ME THANK PAUL AND DON KENNEN AND LAUREN AND HISTORICAL SOCIETY FOR MAKING THIS POSSIBLE. NOT ONLY THIS CONFERENCE BUT THE...
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| 00:03:19 |
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IT BEGINS OR ITS ANTECEDENT WAS THE BATTLE OF BULL RUN, 1861, AS YOU ALL I WOULD GUESS NO. THE UNIMAGINABLE HAPPENED AFTER A DAY'S FIGHTING, THE FEDERAL...
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| 00:37:56 |
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THE MILITARY PROFESSION. QUESTION. AND THE SPIRIT OF THE COMMANDER JEP DIFFUSES ITSELF THROUGH THE WHOLE ARMY? YES, SIR. HERE'S THEM ELICITING WHAT IT...
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| 00:46:41 |
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OF THE SPEAKERS LATER TODAY AND SO YOU'LL BE ABLE TO ASK FERGUS QUESTIONS THEN. WE'RE GOING TO PROCEED NOW TO JENNY BOURNE, A PROFESSIONER OF ECONOMICS...
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| 00:48:25 |
Unidentified Speaker, -
YEAR? I'M NOT GOING TO DO THAT. RAISING AN ARMY MEANS PAYING FOR AN ARMY. WHAT CONGRESS AND PRESIDENT ABRAHAM LINCOLN DID TO PAY FOR CIVIL WAR FOREVER...
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| 01:09:04 |
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PAPERBACK OR PAPER MONEY AND THE GRAYBACK AND THE GREENBACK AND ALL THAT, HOW DIFFICULT WAS IT TO GET ALL OF THESE THINGS PROPERLY ALIGNED SO THERE...
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| 01:09:25 |
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WE COULD GO FROM ONE FORM TO ANOTHER? >> OH, THERE WAS ACTUALLY A
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| 01:09:29 |
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GOLD WINDOW IN NEW YORK, AND THAT WAS WITH THE MAIN -- BUT THERE WERE EXCHANGES, YOU KNOW, IN EVERY MAJOR CITY WHERE YOU COULD ACTUALLY
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| 01:09:36 |
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GO IN AND YOU COULD TAKE YOUR MONEY IN IT. SO YOU COULDN'T TAKE THE GREENBACK IN AND OFFICIALLY GET $1 FOR $1 GREENBACK, BUT THERE WAS A MARKET FOR...
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| 01:10:41 |
Unidentified Speaker, -
WAS WHAT WAS CALLED THE GOLD ROOM IN NEW YORK, AND THAT WAS -- ACTUALLY, LINCOLN CLOSED IT DOWN A FEW
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| 01:10:49 |
Unidentified Speaker, -
TIMES BECAUSE HE DIDN'T WANT PEOPLE TO BE SPECULATING AGAINST THE UNION. >> YES, WHAT WAS THE IMPACT ON THE STATES, ON HOW THEY FINANCED THEIR OPERATIONS...
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| 01:11:06 |
Unidentified Speaker, -
GOING AFTER A PROPERTY TAX AND AN INCOME TAX, WHAT WAS LEFT TO THE STATES? AND, ALSO, WHAT DID THE STATES PAY FOR AS FAR AS THEIR MILITIAS, ANY? >>...
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| 01:11:23 |
Unidentified Speaker, -
THE FEDERAL GOVERNMENT PAID SOME, THE STATES PAID SOME. I THINK THEY HELPED PAY TO EQUIP THEIR MILITIA. IT PROBABLY VARIED FROM STATE STATE. AND UP...
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| 01:12:11 |
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WELL? >> WELL, THAT'S A REALLY INTERESTING QUESTION, AND I GUESS WHAT I WOULD SAY IS THAT THERE WAS A LOT GOING ON WITH RAILROADS, BOTH
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| 01:12:21 |
Unidentified Speaker, -
BEFORE AND DURING THE CIVIL WAR, IN TERMS OF FINANCING AND SELLING BONDS AND STOCKS. I MEAN, THEY WERE WITH REALLY THE THE MOVERS AND SHAKERS BEHIND...
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| 01:13:04 |
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HOW ESPECIALLY WITH THE PROPERTY TAX ADMINISTERED AND WHO ABOUT THE VALUATION TO SEE WHAT THE PROPERTY WAS VALUED AT AND HOW WAS IT ASSESSED AND...
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| 01:13:29 |
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IT. AND WHATEVER SYSTEM WE HAD BEFORE TO TRY TO ASSESS VALUE OF PROPERTY -- I MEAN, THE BIG PART IN THE SOUTH OF COURSE WAS ASSESSING VALUE OF SLAVES,...
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| 01:14:09 |
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DECISION? AND DID THAT INSTANTLY LEAD THE FEDERAL GOVERNMENT TO CEASE COLLECTING TAXES? >> WELL, ARE YOU REFERRING TO THE ONE THAT MADE PAPER MONEY,...
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| 01:14:31 |
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DECISION RATHER THAN THE INCOME TAX? >> YEAH. THE
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| 01:14:38 |
Unidentified Speaker, -
DECISION HEPBURN V GRISWOLD WHERE CHASE WENT BACK
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| 01:14:43 |
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ON WHAT HE DID AS TREASURY SECRETARY WAS IN 1870. THERE WAS ACTUALLY CONCURRENCE BY A FIFTH JUDGE SO, THEREFORE, YES, THEY DID SAY THIS ISN'T LEGAL...
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| 01:15:17 |
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RIGHT. >> THE FIRST AND SECOND LEGAL
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| 01:15:21 |
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TENDER
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| 01:15:22 |
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| 01:15:24 |
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| 01:15:26 |
Unidentified Speaker, -
CASES. >> MY QUESTION IS ABOUT TRADE FLOWS. OBVIOUSLY THE SOUTHERN PART PORTS WERE SHUT DOWN SO THERE WAS PROBABLY NOT MUCH HAPPENING
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| 01:15:35 |
Unidentified Speaker, -
THERE. BUT WHAT, IF ANYTHING, WAS THE IMPACT ON U.S. CURRENCY OF U.S. PURCHASES ABROAD, FEDERAL GOVERNMENT PRACHURCHASES, IF ANY, ON THE MONETARY FLOW...
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| 01:16:00 |
Unidentified Speaker, -
OF GOODS ABROAD. THAT TENDED TO BE MORE IN THE PRIVATE SECTOR BECAUSE THE FEDERAL GOVERNMENT JUST WASN'T A BIG PLAYER AT ALL. BUT YOU'RE RIGHT IN...
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| 01:16:22 |
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YOU MAYBE COULD ADD ANOTHER DIMENSION. THANK
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| 01:16:27 |
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YOU. >> THANK
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| 01:16:30 |
Unidentified Speaker, -
YOU. >> THANK YOU ALL VERY MUCH. [ APPLAUSE ] BEFORE JENNY GOES, SHE WILL
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| 01:16:41 |
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NOT BE ABLE TO
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| 01:16:43 |
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BE HERE FOR THE ROUNDTABLE SO IF ANYBODY IS HOLDING BACK A QUESTION -- AH, SEE, THERE'S ONE MORE. COME BACK. >> WHERE IS YOUR EDITH WHARTON -- >>...
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| 01:17:05 |
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REVIEW REVIEW! THANK YOU. >> WE'RE BACK TO THE HOUSE OF
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| 01:17:11 |
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MIRTH, WHICH I GUESS IS THE PLACE TO END WITH TAX
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| 01:17:17 |
Unidentified Speaker, -
POLICY. WE HAVE ON THE PROGRAM A BREAK UNTIL 10:45. WE ARE ACTUALLY STARTING OUR BREAK A COUPLE MINUTES EARLY SO WE WILL CONVENE BACK HERE AT PRECISELY...
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NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.