Considering that, as we said before, this man was destined to preside
over the most tremendous operations in the whole history of finance, it
is especially instructive to see what was the state of his mind on
economical subjects. He actually proposed to pass a usury law, having
arrived, it appears, at the sage conviction that while to pay the
current rent for the use of a house or the current fee for the services
of a lawyer is perfectly proper, to pay the current price for money is
to "allow a few individuals to levy a direct tax on the community." But
this is an ordinary illusion. Abraham Lincoln's illusions went far
beyond it. He actually proposed so to legislate that in cases of extreme
necessity there might "always be found means to cheat the law, while in
all other cases it would have its intended effect." He proposed in fact
absurdity qualified by fraud, the established practice of which would,
no doubt, have had a most excellent effect in teaching the citizens to
reverence and the Courts to uphold the law. As President, when told that
the finances were low, he asked whether the printing machine had given
out, and he suggested, as a special temptation to capitalists, the issue
of a class of bonds which should be exempt from seizure for debt. It may
safely be said that the burden of the United States debt was ultimately
increased fifty per cent through sheer ignorance of the simplest
principles of economy and finance on the part of those by whom it was
contracted.
Lincoln's style, both as a speaker and a writer, ultimately became
plain, terse, and with occasional faults of taste, caused by imperfect
education, pure as well as effective. His Gettysburg address and some of
his State Papers are admirable in their way. Saving one very flat
expression, the address has no superior in literature. But it was
impossible that the oratory of a rising politician, especially in the
West, should be free from spread-eagleism. Scattered through these pages
we find such gems as the following:--
"All the armies of Europe, Asia, and Africa combined, with all the
treasure of the earth (our own excepted) in their military chest, with a
Bonaparte for a commander, could not, by force, take a drink from the
Ohio, or make a track on the Blue Ridge in a trial of a thousand years!"
... "Accounts of outrages committed by mobs form the every-day news of
the times. They have pervaded the country from New England to Louisiana;
they are neither peculiar to the eternal (?) snows of the former, nor to
the burning sun of the latter." ... "That we improve to the last, that
we revered his name to the last, that during his long sleep we permitted
no hostile foot to pass or desecrate his resting-place, shall be that
which to learn the last trump shall awaken our Washington." Washington's
mind, when he rises from his grave at the Last Day, will be immediately
relieved by the information that no Britisher has ever trodden on his
bones.
Public-domain text, read in full here on John Shaqi.
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