Paying for the Civil War

The video explores how the Union and Confederacy financed the Civil War. The Union, with a strong industrial base, used greenbacks, bonds, and taxes to fund its efforts, while the Confederacy struggled with inflation and public resentment due to its less effective financial strategies. The Union's superior financial management played a crucial role in its victory.

What was one of the key financial strategies used by the Union to support its war efforts?

• Seizing resources

• Relying on European loans

• Selling cotton bonds

• Issuing greenbacks

How did the Confederacy attempt to fund its war efforts?

• By receiving loans from Northern banks

• By creating a new type of National bank

• By issuing its own currency and selling cotton bonds

• By raising taxes significantly

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

• Increased public support

• Successful international trade

• Economic stability

• Spiraling inflation and public resentment

What did a former Confederate claim was the reason for their defeat?

• Inadequate leadership

• Insufficient manpower

• Lack of military strategy

• Defeat in the Treasury Department

Why is the financial aspect of the Civil War significant?

• It highlights the role of economic strength in wartime success

• It shows the importance of military tactics

• It emphasizes the need for international alliances

• It demonstrates the impact of technological advancements