A third fact to be borne in mind in connection with this apparent contradiction in evidence is the source of the greater fortunes of Cincinnati, a large proportion of which are to be traced, directly or indirectly to government contracts during the war. In some cases the merciless indifference of the Cincinnati speculators to the troubles of their country are a local scandal to this day, and it is still told, sometimes with scorn, sometimes with amusement, how perhaps the greatest of these fortunes was made by forcing up the price of iron at a time when the Government had to have iron, cost what it might.

Thus we no sooner take up the moral problem of the times than we find ourselves involved in the commercial question, for here, as always, morals and business are intertwined. Was the commercial management of the North creditable to the Government and an honor to the people? The surest way to answer such questions is to trace out with some fullness the commercial and industrial conditions of the North during the four years of war.