Lincoln’s Economic Principles

Lincoln’s Economic Principles


Lincoln on Economy"If we purchase a ton of steel rails from England for twenty dollars, then we have the rails and England the money. But if we buy a ton of steel rails from an American company for twenty-five dollars, then America has both the rails and the money."

See Lev 25:15

Standard Tread-Mill' Theory "By the 'tread-mill' theory it is assumed that labor and education are incompatible; and any practical combination of them impossible. According to that theory, a blind horse on a tread-mill is a perfect illustration of what a laborer should be -- all the better for being blind, that he could not tread out of place, or kick understandingly.

According to that theory, the education of laborers, is not only useless, but pernicious, and dangerous. In fact, it is, in some sort, deemed a misfortune that laborers should have heads at all."

Source: Abraham Lincoln September 30, 1859 - Address before the Wisconsin State Agricultural Society

Labor Is Superior To capital Theory "Labor is prior to, and independent of, capital. Capital is only the fruit of labor, and could never have existed if labor had not first existed. Labor is the superior of capital, and deserves much the higher consideration." Abraham Lincoln Source: December 3, 1861 - Lincoln's First Annual Message to Congress

"Property is the fruit of is a positive good in the world. That some should be rich shows that others may become rich, and hence is just encouragement to industry and enterprise. Let not him who is houseless pull down the house of another; but let him labor diligently and build one for himself, thus by example assuring that his own shall be safe from violence when built." Source Abraham Lincoln : March 21, 1864 - Reply to New York Workingmen's Democratic Republican Association

Lincoln: Reach Out to The Working Person"I agree with you, Mr. Chairman, that the workingmen are the basis for all governments, for the plain reason that they are more numerous“. Abraham Lincoln Source: Speech, Cinn, Feb 12, 1861

CORPORATE CORRUPTION"I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country; corporations have been enthroned, an era of corruption in High Places will follow, and the Money Power of the Country will endeavor to prolong its reign by working upon the prejudices of the People, until the wealth is aggregated in a few hands, and the Republic is destroyed."

Abraham Lincoln Source: