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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 ...
The main prewar agricultural products of the Confederate States were cotton, tobacco, and sugarcane, with hogs, cattle, grain and vegetable plots. Pre-war agricultural production estimated for the Southern states is as follows (Union states in parentheses for comparison): 1.7 million horses (3.4 million), 800,000 mules (100,000), 2.7 million dairy cows (5 million), 5 million sheep (14 million ...
Quarterly growth rate of the Confederate primary deficit in real terms. The negative values after third quarter 1862 reflect mostly the inability to find willing purchasers for Confederate debt, as the military situation of the South deteriorated. [1] Issued loans accounted for roughly 21% of the finance of Confederate war expenditure. [4]
Before the Civil War, the United States used gold and silver coins as its official currency. Paper currency in the form of banknotes was issued by privately owned banks, the notes being redeemable for specie at the bank's office. Such notes had value only if the bank could be counted on to redeem them; if a bank failed, its notes became worthless.
The Confederate State of North Carolina issued currency during the years 1861, 1862, 1863 and 1864. The most recent state currency issue prior to this were the Colonial American banknotes issued during the 18th century.
The Confederate States of America (1861-1865) started with an agrarian-based economy that relied on slave-worked plantations for the production of cotton for export to Europe and to the northern states. If classed as an independent country, the area of the Confederate States would have ranked as the fourth-richest country of the world in 1860. [31]
School board members in Virginia’s Shenandoah County voted early Friday to restore the names of two schools that previously honored Confederate leaders – four years after those names had been ...
Both the individual Confederate states and later the Confederate government printed Confederate States of America dollars as paper currency in various denominations, with a total face value of $1.5 billion. Much of it was signed by Treasurer Edward C. Elmore. Inflation became rampant as the paper money depreciated and eventually became worthless.