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Lincoln Used Greenbacks To Fight Civil War, Can't We To Eradicate Debt!
Timothy A. Canova, Prof. of Law & Public Finance
In 1862 President Lincoln signed an act to create a new government issued paper money, Greenbacks, not redeemable in gold or any precious metal. His successful experiment helped finance the North to prevail in the Civil War. We'll explore why Lincoln chose this path and the lessons we can learn, including a discussion on the issuance of a $1 trillion dollar coin, as our recovery is
threatened by obsessive concern by both parties about cutting deficits and funding the government - the so-called debt limit and the fiscal cliff.
produced by Ken Nash and Mimi Rosenberg
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