Funding the Civil War: Union vs Confederacy

What was the total cost of the Civil War for the US government?

• $670 million

• $670 billion

• $438 million

• $3.5 million

Who was responsible for initiating the creation of greenbacks?

• Ulysses S. Grant

• Abraham Lincoln

• Salmon P. Chase

• Christopher Memminger

What was the daily funding amount for the US military by 1865?

• $670 million

• $3.5 million

• $438 million

• $670 billion

What financial instrument did the Confederacy sell to European supporters?

• Greenbacks

• Gold bonds

• Cotton bonds

• Silver bonds

What policy did the Confederacy use to seize resources?

• Taxation

• Impressment

• Investment

• Borrowing

What was a major consequence of the Confederacy's financial strategies?

• Economic growth

• Decreased inflation

• Increased investments

• Spiraling inflation

What was the total amount raised by the Confederacy during the Civil War?

• $438 million

• $670 billion

• $670 million

• $3.5 million

How did the former Confederate describe their defeat?

• Outplayed in strategy

• Defeated in battle

• Whipped in the Treasury Department

• Overpowered by technology

How should the financial burden of war be distributed across society?

• Equally among all citizens

• Based on income levels

• Only by the government

• Through international aid