Lincoln, Abraham (Administration)

President Abraham Lincoln was in office from March 1861 until his assassination in April 1865. Many people consider Lincoln to be a great liberator who preserved the Union, ended slavery, improved the function of the federal government, and encouraged modern industry. According to conventional wisdom, Lincoln’s presidential decisions ensured that the United States would make great strides to remove the general populace from poverty and slavery.

From an economic perspective, Lincoln and his cabinet did much to improve the financial functioning of the United States. Under his administration, the first paper currency was issued by the federal government under the U.S. Constitution and authorized by Congress. Additionally, a department of agriculture was created, free mail delivery was established in cities, and the Homestead Act was passed. ...