First, the government increased tariffs on consumer goods, placed high excise duties on alcohol and tobacco, and imposed direct taxes on business corporations, large inheritances, and incomes. These levies paid for about 20 percent of the cost of the war. The sale of treasury bonds financed another 65 percent. Led by jay cooke, a Philadelphia banker, the treasury department used newspaper advertisements and 2,500 subagents to persuade nearly a million northern families to buy war bonds. In addition, the national banking acts of 1863 and 1864 forced most banks to purchase treasury bonds.