The Abilene reflector. [volume] (Abilene, Kan.) 1883-1888, 1886-09-23

tawa. the father of w. II. Taylor, our
Circuit Clerk, is now 50 years of age.
He came TO Illinois with his father In
1914: has been the recipient of a great
MANY fayors from the Democratic party,
to which he has belonged during his
long life. cas- far back as 1882 he was
a member of the Legislature OF the
State of Illinois. In 1885 he was ap-
pointed by Gen. Jackson, President OF
the United States, Receiver OF the
United States Land Office at Chicago,
then just established. He sold the
lands on which Chicago is built for
Government price-S1 .25 per acre.
Col. Taylor has been an active worker
in this State all his life; for years ne
was the President of one of the largest
and most successful banking institu-
lions in the State. His credit and rep
utation as one of Illinois rich men were
National. He was always a personal
friend of Abraham Lincoln, long be-
fore he was elected President. 1t was
he who urged Lincoln to study law,
and by so doing was the man who
made Lincoln President. Although OF
opposite party affiliations, Lincoln had
great confidence in Col. TaylOr's fnan-
eIal abilities. When the war burst on
the Nation its Treasury was empty,
and, after the Government had borrow
ed all the money it could from New
York and New England bankers,
President Lincoln found the Nation of
which he was the head with an empty
Treasury. No money to pay the army,
no money to pay for supplies; Secretary
Chase had exhausted all the Govern
ment, resources, the Treasury was
empty, Chase was discouraged. In this
extremity Lincoln wrote letter to
Col. E. d. Taylor requesting him to
come to Washington Immediately. To
this invitation the Colonel responded
at once. Arriving in Washington he
repaired to Wizards and sent word to
the President that he had arrived in
the city agreeably to his request. Lin
coin sent a page with a note saying:
''Come up to the White House imme-
diately." Arriving there, the Presi-
dent was at the door waiting to receive
him. Taking him by the hand, Lin
coin said: 81 want to talk to you an
hour or more on the finances of the
Nation, and to ask your advice. Here
we are out Of money, a gigantic war
on our hands; our army defeated at
Bull Run; Holland bankers had agreed
to loan us 5000, 900, but now since
our defeat refuse to lend us dollar.
Now, Taylor, you are and have been a
successful financier, and want you to
tell me what to do to raise funds to
take the Nation successfully through
this terrible contest"
''Mr. Lincoln" says Colonel Taylor,
my advice is to issue Treasury notes
printed on the best bank-nOte paper,
bearing no interest; make them legal
tender, and assure you they will be
received as money by all loyal people.
This is pledging the whole property of
of the people, making the security the
best in the world"
"Well, Taylor says Lincoln, Il
think your plan is good one. Let US
send for Chase and hear what ne has
to say about it. On arrival of the Sec
rotary he was informed of Col. Taylor's
plan of raising money. He said it
would not work; the notes would de-
preciate in value, and become as worth
less as Confederate money. But Lin
coin had confidence i'll Taylor's idea,
and said they must try it. Secretary
Chase said to Lincoln, Il do not desire
to request Congress to adopt plan
have no confidence in. You recommend
the plan to Congress and will support
it," "All right" says Lincoln. He
Immediately wrote a message to Con-
gress stating the urgency of the occa-
sion, and recommending the issue of
Treasury notes and making them
legal tender. The law was passed: the
notes were issued; the army was paid;
greenbacks became the popular money
of the day; State bank notes disappear
ed. Four hundred millions of green
backs were issued, notes bearing 10
interest, saving the people in interest
alone eight hundred millions of dollars.
To one of our town citizens are we
indebted for the greenback. and
although he is now 81 years of age he
is still hale and hearty, and an honored
citizen of La Sale County. President
Lincoln. some time in the fall of 1864
wrote Col. Taylor a letter making the
Acknowledgements that to the Colonel we
were indebted for the legal-tender
greenback. We give President Lin
coins letter to Col. Taylor. 1t is a /
precious document, and in after wears
will be held as great memento of the
financial history of the Rebellion:
To Col E. D. Taylor of Chicago-My Dear Col
Dick: I have long determined to make public
the origin of the greenback, and tell the whole !
world that it is one Dick Taylor's creations. You
had always been friendly TO me, and when tropb- /
lous times fell on us, and my shoulders, though /
broad and willing, were weak, and myself sur-
rounded by such circumstances and such peopIe /
that knew not whom to trust, then said, in nv /