Which brings us back to our banking history. Armies do not build themselves soldier by soldier any more than churches do brick by brick.
If you remember our previous lesson on empires, they require large agricultural centers, professional militaries and advanced bureaucracies.
I’m here but I…need a minute
Chasing pirates to protect profits was fun and Mexico was a good dry run but a professional military on the scale of the
British Empire currently bitch slapping the rest of the world
would require a much more advanced bureaucracy. So it’s no wonder that during the commotion of the Civil War between 1861-1865 we passed the
National Bank Act of 1863
Along with de-incentivizing state banks, creating their national counterparts and establishing a currency, this act gave the federal government the ability to sell war bonds. As they say, both power and vice easily acquired are often not so easily relinquished. Or distinguished.