Title: Why Abraham Lincoln Is the Best President | Teen Ink
Headings: Why Abraham Lincoln Is the Best President
Why Abraham Lincoln Is the Best President
Content: Abraham Lincoln also modernized the economy during the war by passing a bill that chartered the first transcontinental railroad. This railroad created the opportunity to advance trade throughout the United States, and the world. Along with trade brought more federal income, which also contributed to giving power to the federal government. He also was the first to issue a required income tax to pay for the war. Although it was only 3% tax on incomes greater than $800, this was the basis of the tax system that America still uses today. Another major thing he did for the economy was creating the first form of paper currency, which were called “legal tenders”. In 1862, he signed The Legal Tender Act, and by doing so he issued an authorized currency, also to help pay for the war, which the people called “greenbacks.” This system is still used in the United States today, although it has been modernized the concept stays the same for trade throughout the U.S, income tax, and legal currencies. Lincoln was and still is a memorable role model that not only kids, and adults look up to, but also a role model that other presidents try to emulate. Known as honest Abe, Lincoln is a trust worthy, and significant president that still lives on in everyone’s memories, and daily lives.