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"Black Thursday" refers to April 17, 1862, when the Confederate government faced a significant financial crisis due to the South's deteriorating economy during the Civil War. On this day, the Confederacy defaulted on its bonds, leading to a loss of confidence among investors and a decline in the value of Confederate currency. This event marked a turning point in the South's financial struggles, contributing to the overall challenges faced by the Confederacy throughout the war.

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