G. Edward Griffin on US Federal War Expenses and Deficits During the Civil War

„During the fiscal year ending in 1861, expenses of the federal government had been ? million. After the first year of armed conflict they were ? million and, by 1865, had risen to one billion, three-hundred million dollars. On the income side of the ledger, taxes covered only about eleven per cent of that figure. By the end of the war, the deficit had risen to ?.61 billion. That money had to come from somewhere.“

G. Edward GriffinG. Edward Griffin explains the sharply rising war expenses and deficit of the US government during the Civil War until 1865.
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G. Edward Griffin is an American author, speaker, and filmmaker known for his critical works on conspiracy theories and political manipulation.

This historical statement describes the sharp increase in US federal government war expenses during the Civil War and the financial burden caused by the deficit.


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G. Edward Griffin quote about federal government expenses, taxes, and deficits during the Civil War

G. Edward Griffin is an American author, documentary filmmaker, and political activist. He is known for his works on controversial political subjects, including criticism of government institutions and exposing conspiracies. His well-known works analyze power structures and the manipulation of the public.

Quote on war financing and inflation by G. Edward GriffinCopyright © yoice.net – Quote Artwork
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"In 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
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Quote image featuring G. Edward Griffin on Abraham Lincoln, the Civil War, and the antislavery crusadeCopyright © yoice.net – Quote Artwork
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"Converting the war into an antislavery crusade was a brilliant move on Lincoln's part, and it resulted in a surge of voluntary recruits into the Union army. But this did not last. Northerners may have disapproved of slavery in the South but, once the bloodletting began in earnest, their willingness to die for that conviction began to wane. [...] Lincoln faced the embarrassing reality that he soon would have no army to carry on the crusade." G. Edward Griffin
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Quote by Ronald Reagan about government debt, inflation, and taxesCopyright © yoice.net – Quote Artwork
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"When a business or an individual spends more than it makes, it goes bankrupt. When government does it, it sends you the bill. And when government does it for 40 years, the bill comes in two ways: higher taxes and inflation. Make no mistake about it, inflation is a tax and not by accident." Ronald Reagan
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Quote by Smedley Darlington Butler revealing the harsh truth about war and profiteeringCopyright © yoice.net – Quote Artwork
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"Beautiful ideals were painted for our boys who were sent out to die. The was the "war to end wars." This was the "war to make the world safe for democracy." No one told them that dollars and cents were the real reason. No one mentioned to them, as they marched away, that their going and their dying would mean huge war profits. No one told these American soldiers that they might be shot down by bullets made by their own brothers here. No one told them that the ships on which they were going to cross might be torpedoed by submarines built with United State patents. They were just told it was to be a "glorious adventure". Thus, having stuffed patriotism down their throats, it was decided to make them help pay for the war, too. So, we gave them the large salary of $30 a month! All that they had to do for this munificent sum was to leave their dear ones behind, give up their jobs, lie in swampy trenches, eat canned willy (when they could get it) and kill and kill and kill...and be killed”" Smedley Darlington Butler
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