Slavery itself is an economic institution of exploiting human labor through bondage.
President Lincoln couldn’t afford for the agrarian, slave-holding Southern states to secede; they paid a large proportion of the protective import tariffs, which funded about 90 percent of the federal government and benefitted the industrial North.
Without adequate tariffs, Lincoln was forced to impose the first federal income tax to "finance" the war. The Confederacy also collected income taxes.
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