
Ways and Means
Lincoln and His Cabinet and the Financing of the Civil War
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Narrated by:
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Kaleo Griffith
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By:
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Roger Lowenstein
About this listen
“Captivating . . . [Lowenstein] makes what subsequently occurred at Treasury and on Wall Street during the early 1860s seem as enthralling as what transpired on the battlefield or at the White House.” —Harold Holzer, Wall Street Journal
“Ways and Means, an account of the Union’s financial policies, examines a subject long overshadowed by military narratives . . . Lowenstein is a lucid stylist, able to explain financial matters to readers who lack specialized knowledge.” —Eric Foner, New York Times Book Review
From renowned journalist and master storyteller Roger Lowenstein, a revelatory financial investigation into how Lincoln and his administration used the funding of the Civil War as the catalyst to centralize the government and accomplish the most far-reaching reform in the country’s history
Upon his election to the presidency, Abraham Lincoln inherited a country in crisis. Even before the Confederacy’s secession, the United States Treasury had run out of money. The government had no authority to raise taxes, no federal bank, no currency. But amid unprecedented troubles Lincoln saw opportunity—the chance to legislate in the centralizing spirit of the “more perfect union” that had first drawn him to politics. With Lincoln at the helm, the United States would now govern “for” its people: it would enact laws, establish a currency, raise armies, underwrite transportation and higher education, assist farmers, and impose taxes for them. Lincoln believed this agenda would foster the economic opportunity he had always sought for upwardly striving Americans, and which he would seek in particular for enslaved Black Americans.
Salmon Chase, Lincoln’s vanquished rival and his new secretary of the Treasury, waged war on the financial front, levying taxes and marketing bonds while desperately battling to contain wartime inflation. And while the Union and Rebel armies fought increasingly savage battles, the Republican-led Congress enacted a blizzard of legislation that made the government, for the first time, a powerful presence in the lives of ordinary Americans. The impact was revolutionary. The activist 37th Congress legislated for homesteads and a transcontinental railroad and involved the federal government in education, agriculture, and eventually immigration policy. It established a progressive income tax and created the greenback—paper money. While the Union became self-sustaining, the South plunged into financial free fall, having failed to leverage its cotton wealth to finance the war. Founded in a crucible of anticentralism, the Confederacy was trapped in a static (and slave-based) agrarian economy without federal taxing power or other means of government financing, save for its overworked printing presses. This led to an epic collapse. Though Confederate troops continued to hold their own, the North’s financial advantage over the South, where citizens increasingly went hungry, proved decisive; the war was won as much (or more) in the respective treasuries as on the battlefields.
Roger Lowenstein reveals the largely untold story of how Lincoln used the urgency of the Civil War to transform a union of states into a nation. Through a financial lens, he explores how this second American revolution, led by Lincoln, his cabinet, and a Congress studded with towering statesmen, changed the direction of the country and established a government of the people, by the people, and for the people.
©2022 Roger Lowenstein (P)2022 Penguin AudioListeners also enjoyed...
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Critic reviews
“Lowenstein’s book is a compelling account of how the United States acquired and exploited the stunning power that modern statehood delivers.”—The Washington Post
“Ways and Means represents nonfiction writing at its best, using an easy prose to enlighten with thought provoking, sometimes controversial, ideas from the very beginning.”—New York Journal of Books
“Ways and Means, an account of the Union’s financial policies, examines a subject long overshadowed by military narratives . . . Lowenstein is a lucid stylist, able to explain financial matters to readers who lack specialized knowledge.”—Eric Foner, New York Times Book Review
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Story
Young, handsome, intelligent, and gay, he hopes to escape his Rust Belt poverty and give his mother a better life by pursuing a career in high finance. But by the spring of 2016, Alistair’s plan has come undone: His fantasy banking job has eluded him, he’s mired in student debt, and in his desperation he’s gone to work for an enigmatic billionaire whose ambitions turn out to be far darker than Alistair could have imagined. By the time Alistair uncovers his employer’s secret, his life is in danger and he’s forced to go on the run.
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Wow!
- By Justin L. Conforti on 03-04-24
By: Daniel Lefferts
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This Hallowed Ground
- A History of the Civil War
- By: Bruce Catton
- Narrated by: David Drummond
- Length: 18 hrs and 55 mins
- Unabridged
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This audiobook is the classic one-volume history of the American Civil War by Pulitzer Prize winner Bruce Catton. Covering events from the prelude of the conflict to the death of Lincoln, Catton blends a gripping narrative with deep, yet unassuming, scholarship to bring the war alive in an almost novelistic way. It is this gift for narrative that led contemporary critics to compare this book to War and Peace, and call it a "modern Iliad." Now over 50 years old, This Hallowed Ground remains one of the best-loved and admired general Civil War books.
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Still one of the best!
- By Homer on 04-21-19
By: Bruce Catton
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America First
- Roosevelt vs. Lindbergh in the Shadow of War
- By: H. W. Brands
- Narrated by: Mark Bramhall
- Length: 14 hrs and 33 mins
- Unabridged
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Bestselling historian and Pulitzer Prize finalist H. W. Brands narrates the fierce debate over America's role in the world in the runup to World War II through its two most important figures: President Franklin D. Roosevelt, who advocated intervention, and his isolationist nemesis, aviator and popular hero Charles Lindbergh.
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Another American History Pearl from H.W. Brands
- By Paul W. Brazis on 10-05-24
By: H. W. Brands
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Indivisible
- Daniel Webster and the Birth of American Nationalism
- By: Joel Richard Paul
- Narrated by: Fred Sanders
- Length: 21 hrs and 7 mins
- Unabridged
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When the United States was founded in 1776, its citizens didn’t think of themselves as “Americans.” They were New Yorkers or Virginians or Pennsylvanians. It was decades later that the seeds of American nationalism—identifying with one’s own nation and supporting its broader interests—began to take root. But what kind of nationalism should Americans embrace? The state-focused and racist nationalism of Thomas Jefferson and Andrew Jackson? Or the belief that the US Constitution made all Americans one nation, indivisible, which Daniel Webster and others espoused?
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Author very biased
- By Richard Wayne Feller on 02-05-23
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Liar's Poker
- Rising Through the Wreckage on Wall Street
- By: Michael Lewis
- Narrated by: Michael Lewis
- Length: 10 hrs and 16 mins
- Unabridged
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In 1986, before Michael Lewis became the best-selling author of The Big Short, Moneyball, and Flash Boys, he landed a job at Salomon Brothers, one of Wall Street’s premier investment firms. During the next three years, Lewis rose from callow trainee to New York- and London-based bond salesman, raking in millions for the firm and cashing in on a modern-day gold rush. Liar’s Poker is the culmination of those heady, frenzied years - a behind-the-scenes look at a unique and turbulent time in American business.
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Finally!
- By Anonymous User on 02-08-22
By: Michael Lewis
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Rubicon
- The Triumph and Tragedy of the Roman Republic
- By: Tom Holland
- Narrated by: Tom Holland
- Length: 14 hrs and 29 mins
- Unabridged
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The Roman Republic was the most remarkable state in history. What began as a small community of peasants camped among marshes and hills ended up ruling the known world. Rubicon paints a vivid portrait of the Republic at the climax of its greatness—the same greatness which would herald the catastrophe of its fall.
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Story of the Fall of the republic told in a very lively manner.
- By Marteinn Úlfur on 12-16-24
By: Tom Holland
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On the Edge
- The Art of Risking Everything
- By: Nate Silver
- Narrated by: Nate Silver
- Length: 15 hrs and 5 mins
- Unabridged
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In the bestselling The Signal and the Noise, Nate Silver showed how forecasting would define the age of Big Data. Now, in this timely and riveting new book, Silver investigates "The River," or those whose mastery of risk allows them to shape—and dominate—so much of modern life. These professional risk takers—poker players and hedge fund managers, crypto true-believers and blue-chip art collectors—can teach us much about navigating the uncertainty of the 21st century.
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Fascinating report from a distant land
- By David Benjamin on 09-14-24
By: Nate Silver
What listeners say about Ways and Means
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- Nick G.
- 03-19-22
A Facinating and Insightful History!
This book is a fascinating and insightfuil history into so much I really didn't know. The book is well presented, very chronological, accurate and detailed. It might bore some but not me. WOW! Any modern person that thinks FDR was the purveyer of big government has no idea what the Civl War and LIncoln and the Republican/National Union party did. Folks, it was for the better! Excellent!
As for the Audible rendition. It was wonderful too. Excellent.
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- Robert Kittel
- 04-10-22
If you're a civil war buff.
If you're a civil War buff it's and interesting view of how the war was won.
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1 person found this helpful
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- mapmaker
- 02-27-25
Misleading title
I was expecting to learn more about Thaddeus Stevens’s role in financing the Civil War, being the chairman of the House Ways and Means Committee, but he is rarely mentioned. I learned a lot, though.
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- Timothy
- 04-06-22
Good book, great narration.
A good addition to tge overall story of our civil war. Somethings missing in my opinion, specifically more in depth writing on the mistakes of the southern economy, though much of this is addressed culturally at the end.
Takes the veil off the idea that the Unions victory was inevitable.
A little too much ink spent on Chase.
All in all, a good story, wonderfully narrated, and a good addition of information on the a different aspect of the Civil War.
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- Philo
- 03-20-22
Very pleased, after waiting years for this info
This is Roger Lowenstein's masterpiece. The facts are here, and the drama, in a fantastic weaving.
This is such crucial US history, right at a vast turning point, yet solid explanations from a financial and economic perspective are rare (or found in huge books). If you like serious economic, financial, and business history, look no further. It is strong on substance, and well-paced. I was long curious about the nuts and bolts of these times, from this perspective. There is much insight into the individuals as well. The renderings of personalities, ideas, and events are exceptional. This book makes the whole panoramic story open to understanding.
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- Louise Beecher
- 02-12-23
Terrific popular history
This is a must read for history buffs and anyone who wants to understand the financial foundations of the modern era.
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- cha
- 04-24-22
outstanding
Recommend to every student of American history., finance, sociology, government and anyone who wants to know.
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- Michael Travis
- 07-13-23
The financial view of Lincoln and the Civil War
Great detailed history of Lincoln and his influence on the increasingly expanded national government. A great contrast to the usual political and military histories of the time period. Great detail.
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- Anonymous User
- 12-19-22
Revealing
This book establishes the underpinnings of our financial and federal governmental systems of today through the scholarly and digestible story of the financing of the civil war. Worth the listen.
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- Scott Montgomery
- 06-19-22
Great history
Reminds us all again that it is organization - people, ideas, and capital that improves the world. By using slaves the South hurt slaves and themselves. Terrible.
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1 person found this helpful