Personal Finances of Abraham Lincoln
Pratt, Harry E.


IN November, 1867, David Davis was appointed guardian of Thomas (Tad) Lincoln, who was then fourteen years old. On Davis's recommendation Judge William Prescott of the Sangamon County Court authorized the payment of $100 a month to Mrs. Lincoln for her minor son's support. The bonds held in Thomas Lincoln's name yielded $1,983 in interest annually. The interest, paid in gold, was sold at a premium, which brought the income from his father's estate well above the cost of his main|tenance. With the surplus, Davis purchased a $1,000 McLean County bond in 1868.

Thomas Lincoln died on July 15, 1871. His only heirs were his mother and his brother, Robert Todd Lincoln. His estate consisted of $1,315.16 in cash and bonds totalling $35,750. Mrs. Lincoln was entitled, under the law, to two-thirds of the estate, but, at her request, it was divided equally between herself and Robert.