Totally ruined.
The Union naval blockade became increasingly effective, so they couldn't export their plentiful cotton in exchange for war supplies.
They had almost no industry, and had to build it from scratch.
Their currency was not based on any hard assets, only on a promise to pay on the achievement of Southern independence - which never happened.
Before the War it was great. During and afterwards it was terrible.
No ruler corrupt economy
Factories ran twenty-four hours a day producing military supplies.
the economy in Cuba has gone down a lot
Global economy helps countries that are affected by economic proserity with a trading partner. jhhhj
Before the War it was great. During and afterwards it was terrible.
it caused inflation, prices rose 9,000 percent %
our economy was tremendously affected by the war . tax payers were paying for the war and we spent a million dolars a day while in the war
badly
456
Totally ruined. The Union naval blockade became increasingly effective, so they couldn't export their plentiful cotton in exchange for war supplies. They had almost no industry, and had to build it from scratch. Their currency was not based on any hard assets, only on a promise to pay on the achievement of Southern independence - which never happened.
Military leadership
The South's plantation economy put it at a disadvantage because it had to rely on imports for numerous manufactured goods. The North, in contrast, had a thriving manufacturing base.
It forced the cotton plantation owners (the South's biggest industry and export) to pay their (from now on) employees and allow them to leave if they wanted to. The South's economy was however most affected by the Civil War that had completely stopped the South's cotton export. At the end of the war the Southern States found that India and Egypt had in the meantime largely taken over the cotton market. The banning of slavery and the resulting rising of the cost of labor thus mainly added to the many economic problems the South faced as a result of the Civil War.
Because much of the souths economy depended on it.
it wasn't as badly affected as the south.
It took a bite out of their defense budget.