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Asked by Danna Carreño on Jul 07, 2024

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Lincoln raised the money to pay for the war mostly through an income tax.

Income Tax

A tax imposed by the government directly on individuals' or entities' income.

Lincoln

The 16th President of the United States, Abraham Lincoln, who led the nation during the Civil War and is known for issuing the Emancipation Proclamation.

Pay for the War

Refers to the methods and strategies used by governments to finance military conflicts, often involving taxes, bonds, or borrowing.

  • Examine the financial consequences of the Civil War for both the Northern and Southern states.
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Numair AhmedJul 08, 2024
Final Answer :
False
Explanation :
Lincoln primarily financed the Civil War through the issuance of government bonds, printing currency (greenbacks), and new taxes, including the first U.S. income tax, but the income tax was not the main source of revenue.

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