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The Essence of Liberty, Part 107
A Summary of: Lincoln Unmasked: What You're not Supposed to Know About Dishonest Abe by Thomas J. DiLorenzo
Summarized by Toni Jolin
Edited by Dr. Jimmy T (Gunny) LaBaume
Chapter 12: The Great Railroad Lobbyist
Lincoln was elected for four reasons: (1) to preserve the territories for the white race and to ensure that the white race would not have to compete for jobs with blacks; (2) to sign into law high protectionist tariffs that would benefit Northern manufacturers; (3) to give away free land; and (4) to subsidize railroad corporations.
The Whig Party was the party of the moneyed elite and Lincoln was a Whig much longer than he was a Republican. He was one of the top railroad industry lobbyists —even before the term was coined. The Illinois Central Railroad was one of the largest corporations in the world and Lincoln was one of its attorneys and a corporate insider. In addition, he also represented the Chicago, Alton, Ohio, Mississippi, and Rock Island railroads. By 1860 he was probably the most sought-after attorney in the entire industry. In other words, the real Lincoln was the diametric opposite of the “false image of the poor, humble, backwoods, ‘rail-splitter' that has been presented to generations of American schoolchildren.”
His insider status allowed Lincoln to engage in some very lucrative real estate speculation. For example, he invested in real estate in Council Bluffs, Iowa, of all places. Why? As a political and industry insider, he knew there was a high likelihood that the government would eventually subsidize a transcontinental railroad. So, when he took office he called a special session of Congress to propose “emergency” legislation to create the taxpayer-subsidized Union Pacific Railroad. The bill gave the president the power to “fix the point of commencement” of the railroad. Not surprisingly, he picked Council Bluffs, Iowa.
When Lincoln signed the bill he “assured the fortunes of a dynasty of American families” who would later go on to fame and fortune as the notorious “robber-barons.” This clique of slick Northern political operators “aroused the suspicions of the South” when they lobbied for huge sums of Southern tax dollars for the building of a transcontinental railroad across the Northern states.
All of the leaders of the Republican Party were involved in the scheme. “General Sherman himself was sold land at below-market prices by the railroad, and after the war would conduct a decades-long campaign of ethnic genocide against the Plains Indians, admittedly, to make way for the government-subsidized railroads. One of Lincoln's old business associates (Grenville Dodge) proposed making slaves of the Indians, instead of killing them, with the Army as a guard.
One of the primary objectives of the Republican Party was to establish the largest political patronage program in the history of government. They accomplished that objective and cemented their power for generations. No one was more important in achieving that objective than Abraham Lincoln.
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At the time this work was completed, Toni Jolin was a student in the School of Agricultural and Natural Resource Sciences at Sul Ross State University where Jimmy T. LaBaume, PhD, ChFC is a Professor of Economics and Statistics.
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