There is no time in American history in which there was more economic conflict between segments of the population than there was prior to the Civil War.
G. Edward GriffinThe nation's first experiment with the income tax was tried at this time; another violation of the Constitution.
G. Edward GriffinIn the North, neither greenbacks, taxes, nor war bonds were enough to finance the war. So a national banking system was created to convert government bonds into fiat money, and the people lost over half of their monetary assets to the hidden tax of inflation. In the South, printing presses accomplished the same effect, and the monetary loss was total.
G. Edward Griffin