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Salmon Chase

Congress forbade living persons from appearing on paper currency in 1866, after an unpopular Treasury Department official put himself on the five-cent note.

Lincoln’s Secretary of the Treasury helped win the Civil War with his many financial innovations, and was an ardent advocate of emancipation.

Editor's Note: Walter Stahr is a historian whose essay “The Struggles of Edwin Stanton” appeared in the Fall 2017 issue of American Heritage.
Wars are fought with silver bullets. While individual battles are decided by tactics, fire-power, courage, and, of course, luck, victory in the long haul of war has almost always gone to the side better able to turn the national wealth to military purposes.

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