2. Taxation was in three forms: A. Direct tax. B. Tariff duties. C. Internal revenue, which included a vast number of taxes.
3. Paper money consisted of treasury notes, United States notes (greenbacks), fractional currency.
4. Besides the cost to the nation, there was the cost to the states, counties, cities, and towns for bounties, and in aid of the war in general; and the cost to individuals.
6. There is again the cost produced by the war and still being paid as pensions, care of national cemeteries, etc., and interest on the public debt.
6. The cost in human life was great to both North and South; there was also a destruction of property and business, the money value of which cannot be estimated.
“THE INDESTRUCTIBLE UNION OF INDESTRUCTIBLE STATES.”
RECONSTRUCTION OF THE SOUTH
%477. The Reelection of Lincoln%.—While the war was still raging, the time came, in 1864, for the nomination of candidates for the Presidency and Vice Presidency. The situation was serious. On the one hand was the Democratic party, denouncing Mr. Lincoln, insisting that the war was a failure, and demanding peace at any price. On the other hand was a large faction of the Republican party, finding fault with Mr. Lincoln because he was not severe enough, because he had done things they thought the Constitution did not permit him to do, and because he had fixed the conditions on which people in the so-called seceding states might send representatives and senators to Congress. Between these two was a party made up of Republicans and of war Democrats, who insisted that the Union must be preserved at all costs. These men held a convention, and dropping the name “Republicans” for the time being, took that of “National Union party,” and renominated Lincoln. For Vice President they selected Andrew Johnson, a Union man and war Democrat from Tennessee.
The dissatisfied or Radical Republicans held a convention and nominated John C. Fremont and General John Cochrane. They demanded one term for a President; the confiscation of the land of rebels; the reconstruction of rebellious states by Congress, not by the President; vigorous war measures; and the destruction of slavery forever.
The Democrats nominated General George B. McClellan and George H. Pendleton. The platform demanded “a cessation of hostilities with a view to a convention of the states,” and described the sacrifice of lives and treasure in behalf of Union as “four years of failure to restore the Union by the experiment of war.” McClellan, in his letter of acceptance, repudiated both of these sentiments. The platform called for peace first, and then union if possible. McClellan said union first, and then peace. “No peace can be permanent without union.” The platform said the war was a failure. McClellan said, “I could not look in the faces of my gallant comrades of the army and navy ... and tell them that their labors and the sacrifice of so many of our slain and wounded brethren had been in vain.”