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[7]: 469 When people lost trust in a bank they rushed to redeem its notes, and because banks issued more notes than their specie reserves, the bank couldn't redeem the notes, often causing the bank to fail. In 1860 there were over 8,000 state-chartered banks issuing notes. In 1861 the U.S. began issuing United States Notes as legal tender. [128]
Some historians in recent decades have minimized the tariff issue as a cause of the war, noting that few people in 1860–61 said it was of central importance to them. Compromises were proposed in 1860–61 to save the Union, but they did not involve the tariff. [ 62 ]
History of Transportation in the United States before 1860 (1917). pp 366–72 online; 698pp; Encyclopedic coverage; railroads by state pp 319–550. Perkins, Edwin J. American public finance and financial services, 1700-1815 (1994) pp 324–48. Complete text line free; Porter, Glenn. The rise of big business, 1860-1910 (1973)(ISBN 0690703945)
U.S. territorial extent in 1860. April 3, 1860 – Pony Express begins. November 6 – 1860 United States presidential election: Abraham Lincoln elected president and Hannibal Hamlin vice president with only 39% of the vote in a four-man race. December 18 – Crittenden Compromise fails. December 20 – President Buchanan fires his cabinet.
History of the United States from the Compromise of 1850: 1877–1896 (1919) online complete; old, factual and heavily political, by winner of Pulitzer Prize; Shannon, Fred A. The farmer's last frontier: agriculture, 1860–1897 (1945) complete text online; Smythe, Ted Curtis; The Gilded Age Press, 1865–1900 Praeger. 2003.
A World History of Tax Rebellions: An Encyclopedia of Tax Rebels, Revolts, and Riots from Antiquity to the Present (2003) excerpt and text search; Doris, Lillian (1963). The American Way in Taxation: Internal Revenue, 1862–1963. Wm. S. Hein. ISBN 978-0-89941-877-3. Ellis, Elmer. "Public Opinion and the Income Tax, 1860-1900."
During the Reconstruction era, Northern money financed the rebuilding and dramatic expansion of railroads throughout the South; they were modernized in terms of track gauge, equipment and standards of service. The Southern network expanded from 11,000 miles (17,700 km) in 1870 to 29,000 miles (46,700 km) in 1890.
At its peak at the end of the 19th century, the U.S. ice trade employed an estimated 90,000 people in an industry capitalised at $28 million ($660 million in 2010), [b] using ice houses capable of storing up to 250,000 tons (220 million kg) each; Norway exported a million tons (910 million kg) of ice a year, drawing on a network of artificial ...