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47: Bull Run, Trent Affair, the Merrimack, & Fort Donelson: The Early Days of the Civil War

History That Doesn't Suck

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The War Progressives: A History of the US Economy

In 1862, the northern economy is in the toilet. Early Union military losses don't exactly create high demand for government war bonds. Congress also passes new taxes, including the first income tax in US history. New York Congressman Elbridge Spalding introduces the Legal Tender Act. This bill would create a new Treasury note or legal tender that all Americans would be required to accept.

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