Listen to a short interview with Stephen MihmHost: Chris Gondek | Producer: Heron & Crane

Few of us question the slips of green paper that come and go in our purses, pockets, and wallets. Yet confidence in the money supply is a recent phenomenon: prior to the Civil War, the United States did not have a single, national currency. Instead, countless banks issued paper money in a bewildering variety of denominations and designs--more than ten thousand different kinds by 1860. Counterfeiters flourished amid this anarchy, putting vast quantities of bogus bills into circulation.

Their success, Stephen Mihm reveals, is more than an entertaining tale of criminal enterprise: it is the story of the rise of a country defined by a freewheeling brand of capitalism over which the federal government exercised little control. It was an era when responsibility for the country's currency remained in the hands of capitalists for whom "making money" was as much a literal as a figurative undertaking.

Mihm's witty tale brims with colorful characters: shady bankers, corrupt cops, charismatic criminals, and brilliant engravers. Based on prodigious research, it ranges far and wide, from New York City's criminal underworld to the gold fields of California and the battlefields of the Civil War. We learn how the federal government issued greenbacks for the first time and began dismantling the older monetary system and the counterfeit economy it sustained.

A Nation of Counterfeiters is a trailblazing work of history, one that casts the country's capitalist roots in a startling new light. Readers will recognize the same get-rich-quick spirit that lives on in the speculative bubbles and confidence games of the twenty-first century.

On the night of the presidential election in 1876, a gang of counterfeiters out of Chicago attempted to steal the entombed embalmed body of Abraham Lincoln and hold it for ransom. The custodian of the tomb was so shaken by the incident that he willingly dedicated the rest of his life to protecting the president’s corpse.

In a lively and dramatic narrative, Thomas J. Craughwell returns to this bizarre, and largely forgotten, event with the first book to place the grave robbery in historical context. He takes us through the planning and execution of the crime and the outcome of the investigation. He describes the reactions of Mary Todd Lincoln and Robert Todd Lincoln to the theft—and the peculiar silence of a nation. He follows the unlikely tale of what happened to Lincoln’s remains after the attempted robbery, and details the plan devised by the Lincoln Guard of Honor to prevent a similar abominable recurrence.

Along the way, Craughwell offers entertaining sidelights on the rise of counterfeiting in America and the establishment of the Secret Service to combat it; the prevalence of grave robberies; the art of nineteenth-century embalming; and the emergence among Irish immigrants of an ambitious middle class—and a criminal underclass.

This rousing story of hapless con men, intrepid federal agents, and ordinary Springfield citizens who honored their native son by keeping a valuable, burdensome secret for decades offers a riveting glimpse into late-nineteenth-century America, and underscores that truth really is sometimes stranger than fiction.