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Financing the Civil War: North vs South

Understand the financial strategies of the North and South during the Civil War. Explore taxation, loans, inflation, and international relations, including the Trent Affair. Dive into the economic impacts, military strategies, battles, and societal changes brought by the conflict. Learn about key figures like Lincoln, Grant, Sherman, and the experiences of women, African American soldiers, and prisoners of war.

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Financing the Civil War: North vs South

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  1. The Civil War Chapter 15

  2. Lincoln’s Election, Cabinet, and Early Tests • Balanced cabinet with different opinions! (Seward!) • Politics as Usual… • Radical Republicans (Stevens) • Peace Democrats/Copperheads • Lincoln suspends liberties: martial law, writs of habeas corpus • Ex parte Merryman, Ex Parte Milligan • ClemantVallandingham?

  3. How did each side FINANCE the war? • North: 3% tax on incomes over $800, direct tax on states, $140 million of loans, exise taxes on products and services, 1863 overhaul banking system. Borrowed $2.2 Billion! $431 million in “greenbacks” issued • End of war cost of living DOUBLED in North! • South: Loans and bonds, inflated currency. States’ rights philosophy HURT here, too. BLOCKADE hurt ability to raise money through tariffs. Only covered 2% of needs with taxation! Borrowed heavily. HOPING for help from BRITAIN.

  4. Trent Affair: Causes and Effects? • November 1861: USS San Jacinto stops a British vessel, the Trent, on its way to negotiations with CSA in London (Mason and Slidell arrested!) • Lincoln’s response?

  5. War Strategies and Major Campaigns • Fort Sumter: Causes and effects • “Anaconda Plan:” Whose idea was it? How specifically did it work? • First Battle of Bull Run • Shiloh: Causes, effects, and leaders • McClellan’s Peninsula Campaign and early attempts to take Richmond • Antietam :Causes, effects, and leaders • Emancipation Proclamation: what did it do? What did it NOT do? Why was it also a MILITARY move? • NYC Draft Riots: causes and effects • African American Soldiers: How and why were they used in the war? • Gettysburg: Causes, effects, and leaders • Vicksburg: Causes, effects, and leaders • Women in Wartime • Medicine during wartime • Prisoners of War: Spotlight on the Andersonville Prison • Grant’s Wilderness Campaign: Causes, effects, and leaders • Sherman’s March to the Sea: Causes, effects, and leaders • Surrender at Appomattox Court House, VA and the RESULTS of the war for all sides

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