Abraham Lincoln and the Federal Reserve System: A Forgotten Connection

Tea Party Economist reports:

There are people who say that Abraham Lincoln opposed central banking. The opposite is true.

Lincoln ran for the legislature in 1832 as a supporter of Henry Clay and what Clay called the American system: high tariffs, federal money to build public works projects, and a central bank.

Clay was the main supporter in Congress of the Second Bank of the United States. The Bank had been chartered by the federal government in 1816. The charter was good for twenty years. It would expire in 1836. Clay tried to get the Bank re-chartered early, in 1832. Congress sided with Clay, but President Jackson vetoed the bill. Clay did not have enough votes to override the veto.

An article well worth your time.