Lincoln Supports Greenbacks or Marshal Ward Hill Lamon’s Inquiry

President Lincoln, who supports Greenbacks, the new currency of the United States, was visiting with his friend, Marshal Ward Hill Lamon, when Lamon inquired of the President how the Greenback was produced. Lincoln proceeded to explain the process, in detail, to Lamon, who was skeptical by nature, his legal mind always prepared for inquiry. The President related how the engraver strikes the sheets, passes them to the Register of the Currency, who marks each bill and signs them, then forwards the bills to Treasurer Spinner whose unique signature is affixed to every one and then sends the whole batch to Secretary Chase who examines, certifies and distributes the Greenbacks to the public.

Lincoln then reached into his pocket and retrieved a $5 note and showed Lamon, Spinner’s signature stating,

“Was there ever anything like it on earth. Yet it is unmistakable; no one will ever be able to counterfeit it!”

Marshal Lamon asked Lincoln if he really believed, that Spinner could have signed that particular $5 note. The President replied that he certainly did and wondered why Lamon was questioning the validity of the Greenback. Lincoln’s closest friend, then asked the President, how many $5 Greenbacks were in circulation and the Chief Executive stated the amount. Lamon then asked how many times do you think a man can write a signature, like Spinner’s, in twenty-four hours.

President Lincoln hushed and started pacing the floor, obviously in deep thought. Marshal Lamon anxiously watched his friend pondering the discussion and finally Lincoln blurted out that this whole question of the Greenback frightened him.

Lincoln immediately requested Secretary Chase to come and see him. He asked the Secretary to explain the detailed process of the Government’s issuance of Greenbacks. When Chase finished, Lincoln stated that the checks and balances were not sufficient and Chase defiantly disagreed. The President approached Congress, at the next opportunity and requested further safe guards on the Government’s distribution of Greenbacks.

Criminals still attempted to defraud the United States Government, however, with Lincoln’s support of Greenbacks and Marshal Ward Hill Lamon’s constant inquiry, the Treasury Department enjoyed a period of security and peace of mind during the Civil War.

Bummer