[ggekko]

"Our resources are unexhausted, and are as we think, inexhaustible."

Of course Lincoln could say that; he had just authorized increasing the monetary base by 50% with absolutely no backing (fiat money was another key feature of advocates of American Mercantilism).

Poor U.S. Grant was left to clean up the inflationary mess that such a rapid increase in the monetary base portended.

[WhiskeyPapa]

Poor U.S. Grant was left to clean up the inflationary mess that such a rapid increase in the monetary base portended.

What a hoot. Wonder how this became the wealthiest, most powerful nation on earth?

Walt