An excellent summation of an infrequently explored aspect of the Civil War. Too often the topic is examined militarily and politically. How it was paid for is usually glossed over. This well researched book fills the gap nicely

I’m not a big fan of non fiction, but I heard Lowenstein interviewed on NPR and found what he had to say quite interesting so I tried his book in which he outlines the influence of economic strategies on the progress and outcome of the Civil War. I found it fascinating. Well written, Lowenstein took what could have been a dry subject and kept my interest throughout. He explained some complex subjects in a way that made them easily understood. It is all here…the role of the central government, the differences between what is tolerated in the north and the south, finances, services, taxation. I gained more insight into not only the Civil War era, but also into some of our politics today.

Thanks to NetGalley and Penguinpress for the DRC

Ways and Means: Lincoln and His Cabinet and the Financing of the Civil War by Roger Lowenstein is a timely read given the state of the U.S. and world economy. While the nation is not at war, there is no doubt that U.S. is in a period of fiscal turmoil that many predict will get worse before it gets better. During times like these, it is wise to turn to history to see how our ancestors addressed some of the same problems we are facing today.

In that sense, Ways and Means is both enlightening and depressing. Throughout the book, Lowenstein documents how the Treasury Secretaries for both the Union and Confederacy, Salmon Chase and Christopher Memminger, deal with similar problems. They both faced declining revenue, ballooning costs of war, and record inflation, to name a few. They also had to come up with creative solutions to these problems while trying to maintain the philosophical ideals they had before the war even if they did not always align with the political and economic realities.

Lowenstein makes clear that Chase had far more resources available to him than Memminger and the Confederate government. He was closer to powerful banking interests in New York. The Union had a more vibrant and diverse economy. It also benefitted from a more stable governing structure. At the time the federal government was relatively small, but still a much more entrenched institution than the one the Confederacy sought to build from scratch. The North also had the moral argument as slavery was no longer a popular institution in the U.S. or around the world.

The Confederacy simply could not compete with its Northern counterparts. Despite the surprising early successes of the Confederate Army, there never was any indication that it could actually defeat the more well-resourced Union soldiers. Furthermore, the Confederate government could not cobble together a stable enough governing structure to advance its cause. By the end of the war, the South was near starvation.

Ways and Means also documents the pervasive racism that existed in both the North and South. While more historians are exploring race and its impact on the American Revolution, it is not a predominant feature in the story of the Revolutionary War. It is interesting to note the sea change in the dialogue about race during the Civil War by the country’s political leaders. Even ardent abolitionist had fairly primitive views about black people in general that they voiced frequently and publicly.

Another depressing revelation by Lowenstein is the extent to which an entire nation’s fortunes can rest on the resilience and tenacity of literally one or two individuals. Salmon Chase dedicated and sacrificed his life to stabilizing the Union’s finances during the war. When one solution proved unworkable, he would try another. In fact, he never really solved any of the Union’s financial problems, he just never quit trying. By contrast his replacement shortly before the end of the war, William Fessenden, was miserable in the position and was ready to resign within weeks of his appointment. Lowenstein characterizes him as someone who was not interested in making the personal and political sacrifices the position required.

Ways and Means is an excellent study of the Civil War, fiscal and monetary policy, economics and politics, and public service during times of national distress. We highly recommend it for anyone interested in any one of these topics. This review is based on an advanced review copy provided through NetGalley.

So much has been written about Abraham Lincoln and the Civil War - it is difficult to come up with something new. But Lowenstein has done so with Ways and Means. In many ways, this is more a book about Salmon Chase and the financing of the war than it is a book about Lincoln or the total war effort.

Well written and obviously thoroughly researched, Ways and Means brings significant new (to me at least) information on the era. I have done reasonably extensive reading on Lincoln in particular and the Civil War as part of his story, but I learned a lot from Lowenstein's book. I also was reminded about other aspects of the Lincoln administration's long term impact on the shape of the United States that goes far beyond just the freeing of the slaves and "savig" the union. So thank you for adding depth and a new dimension to my understanding of this era.