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But the great event of the war was the battle between the ironclads Monitor and Merrimac, which marked the advent of the iron-armored war ship. The Cost in Money.% When Fort Sumter was fired on in 1861 and Lincoln made his call for volunteers, the national debt was $90,000,000, the annual revenue was $41,000,000, and the annual expenses of the government $68,000,000.
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