How did the south finance the civil war?

Answer 1

Initially, the southern states could export cotton and tobacco to willing buyers in England and France. Later, as the Union blockade became stronger, only small amounts of exports could be sneaked out. The Confederacy resorted to simply printing more and more money, until by 1865 their money was essentially worthless.

Answer 2

They at first attempted to have the loans that people owed to northern banks redirected to the government. It didnt work people just covered up their loans. The Confederacy only raised 12 million of an estimated 200 million dollars owed to northern bankers. They also had a small tariff(brought in about 3.5 million over the course of the war). Tried creating a property and personal tax of .5% but only South Carolina collected it, Texas gave the central government siezed northern property, the rest of the states made state bills(Fiat money) and sent it to Richmond. They tried bonds but no one bought them. raised about 34 milion that way but inflation was overtaking the bonds interest so rapidly that you lost money buy buying the bond instead of a real asset like property. Eventually the Confederacy simply produced fiat money (money just printed) that ruined their economy. money became more and more worthless daily. Basically economic ruin but they didnt really have a choice.

Answer 3

Prior to the Civil War the South derived much of its income from the export of cotton, tobacco and sugar. However, the Union Navy blockaded the southern ports and exports dropped dramatically. Some money was raised by the Confederacy by imposing tariffs on goods "imported" from the northern states. For the most part, however, the blockades ruined the economy of the South by not only stopping exports but also stopping imports.

Answer 4

One way the Union financed the Civil War was by placing taxes on manufactured goods. The government also established an income tax to help fund the war.

Answer 5

The South got much of their money from trading with other countries. Cotton was a big need in other countries, and for awhile this kept them going.

Answer 6

Chiavetta's studyguide?

Answer 7

selling bonds to wealthy planters

Answer 8

they raped little boys.

Answer 9

By farming