Abraham Lincoln : the war years, 1861-1865 by Sandburg Carl 1878-1967

Abraham Lincoln : the war years, 1861-1865 by Sandburg Carl 1878-1967

Author:Sandburg, Carl, 1878-1967
Language: eng
Format: epub
Tags: {u'0': u'Lincoln, Abraham, 1809-1865', u'3': u'United States -- History -- Civil War, 1861-1865', u'2': u'American Civil War (1861-1865)', u'4': u'United States'}, Lincoln, Abraham, 1809-1865, American Civil War (1861-1865), United States -- History -- Civil War, 1861-1865, United States
ISBN: 9781579125400
Publisher: [Place of publication not identified] : Tess Press
Published: 2004-03-28T16:00:00+00:00


JAY COOKE—

CASH FOR WAR- HARD TIMES AND FLUSH

The Union Government was spending easily more than $2,000,000 a day for the war. Chase had reason to say that while the other departments stood at the spigots he had to worry about the barrel. Lincoln met the wishes of Chase in many delicate particulars of appointments, arrangements, measures, that would bring in the cash to keep the war going.

In offices across the street from the Treasury Building Jay Cooke & Company hung up their sign. In January ’64 this company finished the selling of $513,000,000 worth of U.S. bonds, the issue being oversubscribed, so that Congress had to act in order to legalize the millions over the half-billion. The commission of Jay Cooke on these immense sales was 14 of 1 per cent, out of which he paid the costs of a large sales force and advertising space in hundreds of newspapers. He had persistently refused offers of Chase to appoint him an Assistant Secretary of the Treasury, his title being merely U.S. Subscription Agent.

The bond-selling campaigns of Cooke under Chase’s authority satisfied Lincoln to the extent that he kept his hands off, seeing Cooke only two or three times during many months. Once Cooke had finished breakfast with Chase when a servant announced the President at the door in a carriage with Attorney General Bates. The Secretary went out to the carriage and learned that Cabinet members and their ladies were going that day to a drill review of 10,000 men seven miles beyond Georgetown. Chase begged to be excused. Lincoln insisted on Chase’s going and told him to bring Cooke along. As they

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rode across the country Cooke noticed the President enjoying the holiday. Cooke got to looking at Bates’ head of black hair with white whiskers and mustache and said to Bates that his own father had been just like that, not a gray hair in his head but when he grew a beard it always came out white. Cooke said he wondered what was the philosophical and scientific explanation. And according to Cooke, Lincoln gave a quizzical look at Bates and said, “Oh, Mr. Cooke that is easily accounted for.” “I shall be glad to know the reason.” “Well, it could hardly be otherwise. The cause is that he uses his jaws more than he does his brain.”

Also, Cooke noted, “We all laughed heartily at this impromptu and original joke at Mr. Bates’ expense and, as I gave the substance of it to some newspaper men the next day it was published far and wide as one of Lincoln’s original sayings.”

Jay Cooke’s father, Eleutheros Cooke, had built the first stone house in the new town of Sandusky, Ohio, and practicing law, launching a railroad with horse-drawn cars, sitting in Congress at Washington, never lacked fluency of speech. Young Jay read his father’s speeches in the Congressional Globe, built a 16-inch-long steamboat propelled by power from an old clock spring, took a hand in defending a Negro bootblack



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