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Confederate President Jefferson Davis asked private citizens to restore the value of the Confederate dollar by mutually agreeing to sell and buy items only at reduced prices. [4] In October 1863, Confederate States Senator Louis Wigfall of Texas said that a Confederate soldier received $11 per month in pay, which was worth the same as $1 had ...
At the beginning of the war, the Confederate dollar cost 90 cents in gold dollars. By the war's end, its price had dropped to 1.7 cents. [2] Overall, prices in the South increased by more than 9000% during the war, averaging about 26% a month. [3]
The economic history of the American Civil War concerns the financing of the Union and Confederate war efforts from 1861 to 1865, and the economic impact of the war. The Union economy grew and prospered during the war while fielding a very large Union Army and Union Navy. [1]
The Confederate States of America (1861–1865) started with an agrarian -based economy that relied heavily on slave -worked plantations for the production of cotton for export to Europe and to the Northern US. If classed as an independent country, the area of the Confederate States would have ranked as the fourth-richest country of the world ...
Greenback (1860s money) Greenbacks were emergency paper currency issued by the United States during the American Civil War that were printed in green on the back. [1] They were in two forms: Demand Notes, issued in 1861–1862, [1] and United States Notes, issued in 1862–1865. [2] A form of fiat money, the notes were legal tender for most ...
Price's Missouri Expedition (August 29 – December 2, 1864), also known as Price's Raid or Price's Missouri Raid, was an unsuccessful Confederate cavalry raid through Arkansas, Missouri, and Kansas in the Trans-Mississippi Theater of the American Civil War. Led by Confederate Major General Sterling Price, the campaign aimed to recapture ...
Long Term Economic Growth – 1860–1965: A Statistical Compendium. Business Booms and Depressions since 1775, a chart of the past trend of price inflation, federal debt, business, national income, stocks and bond yields for the United States from 1775 to 1943. Budget of the United States Government.
The price of gold touched briefly back at $35/ounce (112.53 ¢/g) near the end of 1969 before beginning a steady price increase. This gold price increase turned steep after President Richard Nixon unilaterally ordered the cancellation of the direct convertibility of the United States dollar to gold in 1971, an act later known as the Nixon Shock.