Lincoln's last paycheck

[Rhatkinson]

dated 4/5/1865

[LincolnToddFan]

I had no idea there was a copy of AL's final paycheck still in existence..thanks Rhatkinson!

[richard petersen]

The check was for $1981. If this was monthly the amount would total $23772. If I recall the President's salary was $25,000. If the $25000 is correct, any idea on what happened to the $1228?

[RJNorton]

Richard, could it have to do with an income tax being deducted?

http://www.civilwar.org/education/histor...s/tax.html

"After weighing their options, the House Ways and Means Committee drew up a bill to tax personal and corporate incomes. This bill, the first income tax measure in the United States, called for a 3% tax on incomes over $800. Although the bill quickly passed in both the House and the Senate, it was never put into operation. Still, it paved the way for the next bill of its kind.

In 1862, Abraham Lincoln signed a bill that imposed a 3% tax on incomes between $600 and $10,000 and a 5% tax on higher incomes. The bill was amended in 1864 to levy a tax of 5% on incomes between $600 and $5,000, a 7.5% tax on incomes in the $5,000-$10,000 range and a 10% tax on everything higher. This bill was repealed in 1872 and declared to be unconstitutional."

I did not do the math, so I don't know if that works out as a possible answer.

[LincolnMan]

Where is the check stored today? I wonder if the backside has Lincoln's signature.

[tblunk]

(08-12-2014 10:19 AM)richard petersen Wrote:  The check was for $1981. If this was monthly the amount would total $23772. If I recall the President's salary was $25,000. If the $25000 is correct, any idea on what happened to the $1228?

Income tax was first collected under the general revenue act, ap|proved July 1, 1862. A tax was imposed upon the salaries of federal officials at the rate of three per cent on incomes in excess of $600, and the disbursing officers were required to withhold the "income duty," as it was called, at the time of the payment of the salary.

Some time was required to set up the machinery of collection, with the result that the first withdrawal of $61 from Lincoln's salary warrant was not made until September, 1862. Thereafter his warrant was re|duced from $2,083.33 to $2,022.33 a month. The continuance of the war and the pressing need of more revenue led to the enactment of a new law on June 30, 1864. Under its provisions salaries of federal offi|cials were taxed at five per cent on annual income above $600. With|holding $91.66 each month, the Treasury issued Lincoln's warrants in amounts of $1,981.67 from July 4, 1864 until the time of his death.

From: http://quod.lib.umich.edu/l/lincoln2/525...w=fulltext

[richard petersen]

Thanks, did not realize that we had "withholding" . Interested on how the Government enforced the withholding nationwide.

[Gene C]

The engraving on the check, any one know where that came from or what it is supposed to represent?

[RJNorton]

(08-12-2014 10:29 AM)LincolnMan Wrote:  Where is the check stored today? I wonder if the backside has Lincoln's signature.

Bill, I don't know, but I checked Pratt's book on Lincoln's finances, and it says David Davis (administrator of Lincoln's estate) found that Lincoln had not deposited (or cashed) his last four salary checks. Davis took them to Springfield and deposited them in an account he opened in the Springfield Marine and Fire Insurance Company.

[LincolnToddFan]

For a lawyer, AL seemed surprisingly disorganized. Not only were scores of uncashed checks found in his desk but most shocking of all to me, he died without a will.

An attorney who was also President of the United States during one of the most violent periods in the nation's history did not have a will.

[LincolnMan]

(08-12-2014 11:49 AM)RJNorton Wrote:  

(08-12-2014 10:29 AM)LincolnMan Wrote:  Where is the check stored today? I wonder if the backside has Lincoln's signature.

Bill, I don't know, but I checked Pratt's book on Lincoln's finances, and it says David Davis (administrator of Lincoln's estate) found that Lincoln had not deposited (or cashed) his last four salary checks. Davis took them to Springfield and deposited them in an account he opened in the Springfield Marine and Fire Insurance Company.

Roger: from what you say about the undeposited checks- it sounds like the last check as pictured May not be signed.

[tblunk]

(08-12-2014 11:49 AM)RJNorton Wrote:  

(08-12-2014 10:29 AM)LincolnMan Wrote:  Where is the check stored today? I wonder if the backside has Lincoln's signature.

Bill, I don't know, but I checked Pratt's book on Lincoln's finances, and it says David Davis (administrator of Lincoln's estate) found that Lincoln had not deposited (or cashed) his last four salary checks. Davis took them to Springfield and deposited them in an account he opened in the Springfield Marine and Fire Insurance Company.

Also from Pratt - When Lincoln made his first purchase of Treasury Notes he paid for them with 7 of his uncashed salary warrants. That same month he used his salary to purchase another $2000 in notes. Then sixteen months later he made a third purchase paid for with 11 salary warrants. Several months later he made another purchase with 5 salary warrants.
So it appears AL didn't get in too much of a rush to cash his paychecks. A few months later he turned all of his bonds, notes, cash, warrants, etc. over to Secretary Chase to take care of.

[RJNorton]

Here is another item from Pratt's book. The author includes an image of the telegram Robert Lincoln sent to David Davis on April 15, 1865. The original is in the Abraham Lincoln Presidential Library.

[LincolnMan]

RTL acted quickly. It's hard to imagine the pain he much have been in. On that day- that morning- his father died.

[LincolnToddFan]

I agree Bill. Just look at RTL's handwriting in that telegram, wobbly and slanted. I've seen other samples of his writing, and he had a very neat penmanship. Not as elegant as his mother's but it was very nice.

His writing on April 15 1865 reflects the shock and turmoil he was in, imo.