Title: Personal Finances of Abraham Lincoln
Headings: 
VIII. Savings During the Presidency
Content: 2
Lincoln's salary warrant for August, 1864, in the amount of $1,981.66, was deposited in the First National Bank of Washington. Probably this deposit was made by mistake by George Harrington, As|sistant Secretary of the Treasury, who handled Lincoln's personal finan|ces during the last nine months of his life. From this account Lincoln withdrew $800 in March, 1865, and $800 in April. The balance of $381.66 was turned over to his estate. 3
For financing the Civil War, loans were the government's principal reliance. Laws passed in the summer of 1861 authorized large bond issues and an issue of $140,000,000 in Treasury Notes. The bonds bore interest at 6%; the notes carried a rate of 7.3% (two cents a day on $100) which was payable in gold semi-annually, and were commonly known as (7-30) "seven-thirties." Believing at first that the war would be short, the administration was reluctant to tax heavily. However, the revenue bill of August 5, 1861, did call for new levies, among them an income tax of three per cent on all annual income in excess of $800.