Abraham Lincoln: Become Rich

Abraham Lincoln Money Quote saying when some become rich, it makes others want the same and work hard for it. Abraham Lincoln said:
  

 

“That some should be rich, shows that others may become rich, and, hence, is just encouragement to industry and enterprise” — Abraham Lincoln

Abraham Lincoln is saying that some people becoming rich through hard work and entrepreneurship can encourage others to also work hard and start businesses of their own. He believes it is fair that if some work hard and take risks to become rich, it shows that wealth is attainable for others who make the effort to build industries and enterprises. The key idea is that seeing the success of others who got rich through their efforts can motivate more people to work industriously and be enterprising in order to also improve their economic condition.

Birthday: February 12, 1809 – Death: April 15, 1865

Abraham Lincoln: Capitalists Fleece

Abraham Lincoln Money Quote saying the capitalist works along with other capitalists to cheat folks. Abraham Lincoln said:
 

 

“These capitalists generally act harmoniously and in concert, to fleece the people” — Abraham Lincoln

Abraham Lincoln is criticizing how capitalists work together against the interests of ordinary people. “Act harmoniously and in concert” means they collude or cooperate with each other. “Fleece the people” suggests they exploit the people, like shearing wool from sheep, to take unfair advantage and profit at the people’s expense.

Lincoln believed capitalists would collude to maximize their profits through monopolies and other unfair business practices, rather than compete in a way that also benefits consumers and workers

Birthday: February 12, 1809 – Death: April 15, 1865

Abraham Lincoln: Reasonable Wage

Abraham Lincoln Money Quote saying in text from the Emancipation Proclamation on January 1, 1863 that all slaves were to be free and were encouraged to work for pay. Abraham Lincoln said:
 

“I hereby enjoin upon the people so declared to be free to abstain from all violence, unless in necessary self-defence; and I recommend to them that, in all cases when allowed, they labor faithfully for reasonable wages” — Abraham Lincoln

Lincoln held the view that newly freed slaves should be encouraged to work for reasonable wages. By saying they should “labor faithfully for reasonable wages”, Lincoln indicates his belief that compensated labor was an important part of the transition from slavery to freedom. The quote reflects Lincoln’s perspective that former slaves should have the opportunity to earn wages through their own work, rather than be denied compensation or economic independence as they had been under slavery.

Birthday: February 12, 1809 – Death: April 15, 1865

Abraham Lincoln: Rich But Spiritually Poor

Abraham Lincoln Money Quote saying our country is wealthy beyond measure, but we must also be equally as generous and giving with that bounty. Abraham Lincoln said:
 

 

“This country cannot afford to be materially rich and spiritually poor” — Abraham Lincoln

Elected as 16th U.S. President on November 6, 1860

Abraham Lincoln said this quote to emphasize the importance of spiritual and moral values alongside material wealth. He believed that a nation’s true prosperity depends not just on economic strength, but also on the character and virtues of its people. By being “spiritually poor”, he meant lacking compassion, generosity, integrity and other moral qualities.

Lincoln was warning that a country could become corrupt and unstable if its citizens only cared about accumulating riches and not higher ethical principles. His message was that lasting well-being for a society requires both financial abundance and strong moral values.

Birthday: February 12, 1809 – Death: April 15, 1865

Abraham Lincoln: Law Prevents Getting Rich

Abraham Lincoln Money Quote saying there should be no legal recourse against those who seek wealth – it could be more than harmful. Abraham Lincoln said:
 

 

“Some will get wealthy. I don’t believe in a law to prevent a man from getting rich; it would do more harm than good” — Abraham Lincoln

Lincoln believed that preventing wealth accumulation through laws would do more harm than good for a few key reasons:

1. It would limit individual freedom and entrepreneurship. People should have the freedom to pursue wealth through legal means without government restrictions.
2. Such laws could be difficult to implement and enforce fairly. It would be hard to determine what level of wealth is “too much” and prevent people from accumulating further wealth.
3. Banning wealth accumulation could discourage innovation and risk-taking that leads to economic growth. Many wealthy people invest in new businesses and technologies.
4. Lincoln had faith that a free market economy where people are able to benefit financially from their work and ideas is best for long-term prosperity overall. Some individuals getting wealthy does not inherently harm others.

Birthday: February 12, 1809 – Death: April 15, 1865

Abraham Lincoln: Humblest Equal Chance

Abraham Lincoln Money Quote saying we should make it possible for all to gain riches, from ‘Allow the humblest man an equal chance’ speech – with no war on wealth. Abraham Lincoln said:
 

 

“So while we do not propose any war upon capital, we do wish to allow the humblest man an equal chance to get rich with everybody else” — Abraham Lincoln

Abraham Lincoln is saying that the government should aim to create a society where every person, regardless of their current wealth or social status, has an equal opportunity to become financially successful through their own efforts and abilities.

Lincoln wanted a system where factors like one’s birth, family connections, race, or gender would not determine their economic chances in life. Rather, each individual would have a fair and equal chance to “get rich” if they worked hard and made good use of their talents.

Birthday: February 12, 1809 – Death: April 15, 1865

Abraham Lincoln on Cost of Horses

Abraham Lincoln Money Quotation saying it’s easy to promote more officers to replace those lost to war, but transportation must be paid for. Abraham Lincoln said:
 

 

“I can make more generals, but horses cost money” — Abraham Lincoln

The Abraham Lincoln quote “I can make more generals, but horses cost money” refers to the costs associated with fighting the Civil War. Lincoln is saying that it was relatively easy to promote more officers to replace generals lost in battle, but replacing horses was much more expensive.

Horses were a vital part of transportation and logistics in the 1860s, so losing horses had a significant financial impact. The quote highlights how Lincoln had to consider economic factors like transportation costs in addition to military strategy and personnel during the war.

Birthday: February 12, 1809 – Death: April 15, 1865

Abraham Lincoln: Constitution on Government Borrowing

Abraham Lincoln Money Quotation saying Abe was opposed to federal government borrowing and wanted to amend the consitution to stop the practice, but failed. Abraham Lincoln said:
 

 

“I wish it were possible to obtain a single amendment to our constitution taking from the federal government their power of borrowing” — Abraham Lincoln

Abraham Lincoln wanted to amend the Constitution to take away the federal government’s power of borrowing. He felt strongly that the government should not be able to borrow money. Lincoln likely believed that the government should balance its budget each year and not run deficits, relying instead on tax revenue to fund operations.

Amending the Constitution would have made it impossible for Congress to authorize new government borrowing and debt. However, Lincoln was not able to successfully pass such a constitutional amendment before his death.

Birthday: February 12, 1809 – Death: April 15, 1865