Ideas That Can Make You A Millionaire
Samuel Ward died in 1839, leaving a fortune estimated at six million dollars. Within a short time, Howe's beloved brother Henry Ward died as well. She became deeply depressed and spent the next two years recovering her spirits. After her period of mourning ended, however, she began to enjoy her newfound freedom. She socialized with all kinds of important people in New York. Along with her sisters, she became known as an excellent hostess in the city's literary and cultural circles.
In 1833, Stevens was elected to the Pennsylvania state legislature. He immediately began fighting to establish free public schools for all children. Until this time, most schools were private and only children from wealthy families attended. Poor children had to work from a young age to help support their families, and rarely even learned to read and write. But creating free public schools was not a popular idea. Many people resented having to pay taxes to support the schools. Some wealthy people wanted to keep the advantages of education for themselves. Stevens made several speeches that helped convince the legislature and voters to support the idea. The number of schools in Pennsylvania increased from
Lincoln was among the last casualties in a war for which the exact human and material toll will never be known. At least 620,000 soldiers perished, together with an unknown number of civilians. The economic cost vastly exceeded anything in previous American history, amounting to billions of dollars in direct expenditures and untold millions more in the form of postwar pensions and lost productivity. Many parts of the Confederacy experienced far greater destruction than most of the North, and the South as a whole lost two-thirds of its assessed wealth (much of this was in the form of lost slave property). Some areas of the South did not recover fully from the effects of the war until well into the twentieth century.
How the Union and Confederacy paid, or did not pay, for this war played an important role in the nation's economic recovery after secession as well as how urban Americans experienced the war. The federal government that had to that point intruded little on the lives of its individual citizens suddenly became the largest and most dominating economic entity. For the Union, dealing successfully with an economic enterprise never imagined even a year before meant reshaping how the government raised revenue. Secretary of the Treasury Salmon P. Chase, with the help of Philadelphia financier Jay Cooke, developed a play by which the United States would finance the war through the sale of bonds, issuing paper currency known as greenbacks, increasing tariffs and excise taxes, and instituting the nation's first income tax. The Thirty-seventh Congress approved Chase's financial plan and extended the basic framework for the Republican economic program, which was in large part an updated version of...
In summer 1862 MajGen Braxton Bragg ordered both these officers on a two-pronged raid in advance of his anticipated invasion of eastern Tennessee and Kentucky. Their aim was to disrupt communications, delay Federal troop movements, and destroy the opposing cavalry. Morgan's 2nd Kentucky Cavalry, along with units from Georgia and Texas, set out on July 4, winning a series of small engagements and destroying almost a million dollars' worth of property. In Tennessee on July 11, Forrest's amalgamated force targeted the railroad center of Murfreesboro, where he destroyed half a million dollars' worth of property
Much damage to infrastructure, Marmaduke had a tendency to get bogged down in pitched battles and assaults on forts. More successful was BrigGen Joseph Orville Shelby's Missouri raid, which rode without supply wagons, avoided major engagements, and sent scouts ahead to gather intelligence about road conditions and Union troop positions. Shelby destroyed nearly two million dollars' worth of infrastructure and supplies and captured 1,200 small arms, at a time when many Arkansas Confederates were unarmed or went into the firing line with squirrel-guns.
When Secretary Welles asked Congress in March 1862 for more money for ironclads, he also laid out how it would be spent. Besides the Passaics and the riverine fleet, the Navy would build monitors for harbor defence and to operate upon the Atlantic coast and in the Gulf of Mexico, which shall be as far as possible invulnerable, each armed with 15 inch guns. To counter the threat from the British and French, he proposed to attempt an ocean steamer possessed of the same sailing and armoured properties, armed with guns of 20 inches calibre. Unofficially, Fox told a correspondent Government will build as many iron clad vessels in the next year as the country can produce. 44
Edwin Stevens in 1868, the Stevens Battery was bequeathed to the state of New Jersey, along with the sum of one million dollars with which to complete it. General George B. McClellan was appointed to head the project, new plans for converting the battery to a turret ram were drawn up, and work actually went ahead, including the installation of new engines. Finally, the million dollars was spent, and the ship was still incomplete, although it appears that work was progressing quite favorably, and the Navy was interested again. Congress, however, was not, and neither was the state of New Jersey. The Stevens Battery was finally scrapped in 1874.
In the following weeks Mallory moved to bring his scheme to reality. Lieutenant James H. North was ordered to proceed to London, and with the assistance of Confederate agents already in England, to go to France and open negotiations with the French for the purchase, either directly or indirectly, of one armored frigate of the Gloire class, or failing this, to arrange for a similar ship to be secretly constructed. Another armored ship was to be contracted for in England. Lieutenant North was advised to consult with Captain Cowper Coles, the Royal Navy's ironclad expert, before drawing up specifications. On May 20, 1861, 2 million dollars were allocated for the purchase of 6 armored vessels abroad. Tactically, honors must go to the Monitor, which was fighting a defensive action to protect the helpless wooden ships. The ships were saved, the enemy driven off. The Union Navy, with the responsibility of maintaining the blockade and covering McClellan's operations ashore on the Peninsula,...
In England mutinies of small garrisons were commonplace, whether over the removal of an unpopular commander such as Colonel John Venn, Governor of Windsor or more commonly as Captain Dcnys Taylor's report on the mutiny at Henley shows, 'the occasion of the mutiny was that no more money came down'. The circumstances of the Civil War itself also weakened authority as it was not a long step from questioning the authority of the king to disputing that of officers. As Lieutenant-Colonel Mark Gryme commented after one mutiny 'All that I can do is little enough to appease them seeing their pay is so little, and private incendiaries many'.
Concurrent with Morgan's Kentucky raid, Forrest left Chattanooga on July 9, and proceeded to devastate Federal occupation forces in middle Tennessee. At 4.30 am on July 13 - his 41st birthday - having ridden 50 miles in just over fourteen hours, Forrest thundered into Murfreesboro ahead of his 1,4.00 screaming troopers and surprised and captured General Thomas T Crittenden and his 1,040-man Federal garrison. After securing Union supplies estimated at a million dollars, Forrest withdrew to McMinnville. On the 18th, old Bedford had his men back in the saddle and marching to Lebanon where they forced the Union garrison to abandon the town. Following the retreating Federals northward to Nashville, Forrest destroyed two bridges below the city on the Nashville & Chattanooga Railroad, putting the line out of operation for a week forced the moblization of two Federal divisions to protect the railroad and destroy the Confederate raiders and panicked Governor Andrew Johnson into thinking...
Philip Kearny was born in New York City on 2 June 1815. The scion of a wealthy, socially prominent family, he was graduated from Columbia University in 1833. l ie inherited a million dollars in - an almost unimaginable sum at that date - but nevertheless decided to follow his dream into the army. Commissioned into his uncle's regiment, the 1st Dragoons, in 1837 as a second lieutenant, Kearny attended the French cavalry school at Saumur in 1839* He served with the Chasseurs d'Afrique in Algiers in 1840, returning to serve on the staff of the Major-General Commanding the Army.
Objections to the draft came not only from the immigrant community, but also from many other poor New Yorkers. The famous statement that the war was ''a rich man's war but a poor man's fight'' reflected the conviction that although wealthy Northerners planned and executed the conflict, it was the poor who fought and died. The ability of wealthy men to buy a substitute only added to the outrage. Race played a role, as well.
Robert Stevens' two surviving brothers, John and Edwin, offered to complete the ship at their own expense if the government would buy it when it was successfully completed. A board of naval officers was then appointed to survey the ship and decide whether it was worth finishing. The verdict was that it was not, and the offer of the Stevens brothers was declined. Upon the death of Edwin Stevens in 1868, the Stevens Battery was bequeathed to the state of New Jersey, along with the sum of one million dollars with which to complete it. General George B. McClellan was appointed to head the project, new plans for converting the battery to a turret ram were drawn up, and work actually went ahead, including the installation of new engines. Finally, the million dollars was spent, and the ship was still incomplete, although it appears that work was progressing quite favorably, and the Navy was interested again. Congress, however, was not, and neither was the state of New Jersey. The Stevens...
Improving Your Financial IQ
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