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| Field name | Value |
|---|---|
| Collection Reference Number | GLC03806 |
| From Archive Folder | Documents Relating to the 1860s |
| Title | William Gray to Justin Morrill regarding the USA's financial position |
| Date | 4 December 1862 |
| Author | Gray, William (1810-1892) |
| Recipient | Morrill, Justin |
| Document Type | Correspondence |
| Content Description | Discusses country's current financial position, per Morrill's request. Details poor state of U.S. finances, explains the "very grave objections" to President Lincoln's recommendation of a general banking law, and offers possible alternatives. "Our present debt is about 700 millions…The Government requires large additional sums…To place the whole security for the circulation of the country in the hands of a bureau at Washington, subject to the political changes to which it must be subject, is a matter to cause most serious apprehension." Morrill, a Republican Congressman from Vermont, was the author of the Tariff Act of 1861. Gray was a member of one of Boston's wealthiest families. Envelope free franked by Gray. Docketed by Morrill. |
| Subjects | Civil War Government and Civics President Finance Economics Debt Law Banking Congress Politics |
| People | Gray, William (1810-1892) Morrill, Justin Smith (1810-1898) Lincoln, Abraham (1809-1865) |
| Place written | Boston, Massachusetts |
| Theme | Banking & Economics; Government & Politics; Merchants & Commerce; The Presidency |
| Sub-collection | The Gilder Lehrman Collection, 1860-1945 |
| Additional Information | Morrill was a Representative and Senator from Vermont |
| Copyright | The Gilder Lehrman Institute of American History |
| Module | Civil War, Reconstruction and the Modern Era: 1860-1945 |