“I then asked, ‘How much of this currency have we afloat?’
“He remained thoughtful for a moment, and then stated the amount.
“I continued: ‘How many times do you think a man can write a signature like Spinner’s in the course of twenty-four hours?’
“The beam of hilarity left the countenance of the President at once. He put the greenback into his vest pocket, and walked the floor; after awhile he stopped, heaved a long breath and said: ‘This thing frightens me!’ He then rang for a messenger and told him to ask the Secretary of the Treasury to please come over to see him.
“Mr. Chase soon put in an appearance; President Lincoln stated the cause of his alarm, and asked Mr. Chase to explain in detail the operations, methods, system of checks, etc., in his office, and a lengthy discussion followed, President Lincoln contending there were not sufficient safeguards afforded in any degree in the money-making department, and Secretary Chase insisting that every protection was afforded he could devise.”
Afterward the President called the attention of Congress to this important question, and devices were adopted whereby a check was put upon the issue of greenbacks that no spurious ones ever came out of the Treasury Department, at least. Counterfeiters were busy, though, but this was not the fault of the Treasury.
LINCOLN’S APOLOGY TO GRANT.
“General Grant is a copious worker and fighter,” President Lincoln wrote to General Burnside in July, 1863, “but a meagre writer or telegrapher.”
Grant never wrote a report until the battle was over.