How to pay for the Civil War? This was the problem. In 1862, Ulysses S. Grant’s forces were stationed at Cairo, Illinois. Grant could get no money to pay his soldiers. Grant asked Colonel Dick Taylor to travel to Washington and see what he could do. In Washington, Taylor had no success and he returned to Illinois. Overall, the money situation for the Union grew worse, and President Lincoln wrote to Colonel Taylor, inviting him back to Washington. “He went and his advice to Lincoln was to issue treasury notes, based on the good faith of the nation.” 
He was Colonel Edmund D. Taylor, but was known as Dick Taylor.  Colonel Dick Taylor was a cousin to one Theodore Taylor, nephew of President Zachary Taylor. 
Colonel Taylor went on to explain to Abraham Lincoln how full legal tender money would be just as good as any money and that Congress is given the express right to coin and issue money. (Background: Col. Dick Taylor and the Greenback, Ersjdamoo’s Blog, February 25, 2013.)
But there was an evil Salmon swimming in Lincoln’s Cabinet. He was Salmon P. Chase, the Treasury Secretary, named after a fish. (Background: Salmon Sleeps With the Fishes, Ersjdamoo’s Blog, July 29, 2015.)
The Salmon (image) was a Freemason, active in the lodges of Midwestern society.  The Civil War created the need to raise money, and with Customs revenue from the Southern cotton trade cut off, the Salmon had to implement internal taxes. The Bureau of Internal Revenue, later the Internal Revenue Service, was created in 1862 to collect stamp taxes and internal duties. The next year it administered the nation’s first income tax.  Colonel Lafayette Baker headed the National Detective Police (NDP), which enforced the income tax by using spies and informers. 
The Salmon vigorously opposed the idea of full legal tender money controlled and owned by the people of the United States through the U.S. Congress.  He was helped by Jay Cooke, the first major investment banker in the United States.  Years later, in the Republican nominating process of 1868, Cooke backed Radical Republican Chief Justice Salmon P. Chase for President.  The Salmon had gotten kicked out of the Cabinet after Lincoln was re-elected in 1864. “What’s this fish doing here?” thought Lincoln. “I am re-elected now and who needs him and his Radical Republicans?” So the Salmon was left awhile gasping for air, flopping by the river. But then Lincoln saw that making the Salmon Chief Justice of the Supreme Court would help him with the “radical” abolitionist faction of the Republican Party.
Jay Cooke was in with the Wall Street gang. On June 25, 1863, a letter was sent to Iklesheimer, Morton, and Vandergould of Number 3 Wall Street, New York City. “Dear Sir”, wrote Rothschild Brothers, Bankers, London. “A Mr. John Sherman has written us from a town in Ohio, U.S.A. as to the profits that may be made in the National Banking business under a recent act of your Congress, a copy of which act accompanied his letter.” 
John Sherman was a Republican Senator from Ohio during the Civil War. As a senator, he was a leader in financial matters, helping to redesign the United States’ monetary system.  Salmon P. Chase, a.k.a. the Salmon, was instrumental in establishing a national banking system after the National Banking Acts of 1863 and 1864 were passed. 
On July 6, 1863, Iklesheimer, Morton, and Vandergould, Private Bankers, Brokers, Financial Agents, wrote back to the Messrs. Rothschild Brothers: “As to the organization of a National Bank here, and the nature and profits of such an investment, we beg leave to refer to our printed circular enclosed herein.” 
The brief printed circular had been written as a response to friends and clients who had questions about the 1863 National Banking Act. The National Banks would not be subject to State laws. Because the National Banks had a national organization, they could easily act together in either withholding loans or extending them. From this “it follows that they can by united action in refusing to make loans, cause a stringency in the money market… The tremendous possibilities of speculation involved in this control of the money of a country like the United States will be at once understood by all bankers.” 
——- Sources ——-
 The Graphic (Postville, Iowa), Dec. 17, 1891. No title, apparently page 1.
 “Greenback’s Dad”. Logansport Pharos Tribune (Logansport, IN), June 14, 1890.
 “Zachary Taylor’s Nephew”. Fort Gibson Post (Fort Gibson, OK), March 26, 1898.
 “Salmon P. Chase”, Wikipedia, July 29, 2015.
 “Salmon P. Chase (1861 – 1864)”, http://www.treasury.gov/about/history/pages/spchase.aspx
 “Death of Gary Mack”, Ersjdamoo’s Blog, July 22, 2015. https://ersjdamoo.wordpress.com/2015/07/22/death-of-gary-mack/
 “Salmon P. Chase: Lincoln’s Treasury Secretary”, by Ellen Terrell.
January 14, 2013. http://blogs.loc.gov/inside_adams/2013/01/salmon-p-chase-lincolns-treasury-secretary/
 “Jay Cooke”, Wikipedia, July 30, 2015.
 Lincoln: Money Martyred, by Dr. R.E. Search (pseudonym). Palmdale, CA: Omni Publications, first published in 1935.
 “John Sherman”, Wikipedia, July 30, 2015.