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Comparison Of The Confederate And Union Economies

608 words - 3 pages

The Confederation and the Union had variant economic statuses, the Union's being more stable than the South’s because of its successful sales of bonds, its more dependable form of wealth, and the fact that it was a preestablished country with wartime funding experience. Though the Union’s banking system was far from perfect, its superiority placed the Union ahead of the South financially.

The Union developed a technique that boosted the sales of bonds, while the South gained very little from their sales. This was due to both the scarcity of cash in the South and the reluctance of the Southerners to invest in bonds. Insufficiencies in the South’s war funding tactics sparked a runaway inflation that topped 9,000 percent by 1865.
Another inferiority of the South was the fact that its government was developing as the conflict ensued, whereas the North had the advantage of being a preexisting country with previous experience raising funds for other wars. This combined with both the Confederation’s size and non-liquid assets attributed to its economic downfall.
The predominantly agrarian South had few forms of liquid wealth; slaves and land comprised the majority of southern capital. The cultivation of cotton and the profits made by its sales was paramount to the economy and so with the loss of northern buyers, the Confederate’s economic status was destined for failure.
The poor economic state in which the Confederacy found itself definitely affected its success in the Civil War, and proved its inferiority as a developing country.

First paragraph: The Union had less inflation problems because Its bonds worked better.
a) bonds, who set them about, who had them first, It were the first american war bonds
i)the Union raised a higher percentage of Its money from bonds than the South; the South simply inflated without species...

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