The Monetary Imagination of Edgar Allan Poe

Banking, Currency and Politics in the Writings

In this first-of-its-kind treatment, Heinz Tschachler offers an account of Edgar Allan Poe’s relation to the world of banking and money in antebellum America. He contends that Poe gave the full force of his censure to the acrimonious debates about America’s money, Andrew Jackson’s bank war, the panic of 1837 and the ensuing depression, and the nation’s inability to furnish a “sound and uniform currency.” Poe’s attitude is overt in his early satires, more subdued in “The Gold-Bug,” and almost an undercurrent in writings that enter into and historicize the discovery of gold in California. In Poe’s writings much is concealed, though his art also reveals while it conceals, in this instance, a deep felt desire for an authority that would guarantee a measure of permanence and continuity to the nation’ s currency. That kind of currency was finally furnished by Abraham Lincoln (both were born in 1809; Poe died in 1849), at one time a dedicated reader of Poe’s tales and sketches. Wielding his “power of regulation,” Lincoln came to save the Union not just militarily but also economically. Under him, the United States government finally provided the kind of “sound and uniform currency” that Poe in his writings could only name and rehearse.