<< Chapter < Page Chapter >> Page >
An illustration depicts the First Battle of Bull Run. Union soldiers and horses fall in disarray as Confederates attack; a crumpled American flag lies on the ground beneath the casualties.
The First Battle of Bull Run, which many Northerners thought would put a quick and decisive end to the South’s rebellion, ended with a Confederate victory.

Balance sheet: the union and the confederacy

As it became clearer that the Union would not be dealing with an easily quashed rebellion, the two sides assessed their strengths and weaknesses. At the onset on the war, in 1861 and 1862, they stood as relatively equal combatants.

The Confederates had the advantage of being able to wage a defensive war, rather than an offensive one. They had to protect and preserve their new boundaries, but they did not have to be the aggressors against the Union. The war would be fought primarily in the South, which gave the Confederates the advantages of the knowledge of the terrain and the support of the civilian population. Further, the vast coastline from Texas to Virginia offered ample opportunities to evade the Union blockade. And with the addition of the Upper South states, especially Virginia, North Carolina, Tennessee, and Arkansas, the Confederacy gained a much larger share of natural resources and industrial might than the Deep South states could muster.

Still, the Confederacy had disadvantages. The South’s economy depended heavily on the export of cotton, but with the naval blockade, the flow of cotton to England, the region’s primary importer, came to an end. The blockade also made it difficult to import manufactured goods. Although the secession of the Upper South added some industrial assets to the Confederacy, overall, the South lacked substantive industry or an extensive railroad infrastructure to move men and supplies. To deal with the lack of commerce and the resulting lack of funds, the Confederate government began printing paper money, leading to runaway inflation ( [link] ). The advantage that came from fighting on home territory quickly turned to a disadvantage when Confederate armies were defeated and Union forces destroyed Southern farms and towns, and forced Southern civilians to take to the road as refugees. Finally, the population of the South stood at fewer than nine million people, of whom nearly four million were black slaves, compared to over twenty million residents in the North. These limited numbers became a major factor as the war dragged on and the death toll rose.

An image of a Confederate one hundred dollar bill is shown. In the lower left-hand corner is a portrait of Jefferson Davis; in the lower right-hand corner, a classically styled woman in a gown holds a garland. At the top of the bill, several black men toil in a field.
The Confederacy started printing paper money at an accelerated rate, causing runaway inflation and an economy in which formerly well-off people were unable to purchase food.

The Union side held many advantages as well. Its larger population, bolstered by continued immigration from Europe throughout the 1860s, gave it greater manpower reserves to draw upon. The North’s greater industrial capabilities and extensive railroad grid made it far better able to mobilize men and supplies for the war effort. The Industrial Revolution and the transportation revolution, beginning in the 1820s and continuing over the next several decades, had transformed the North. Throughout the war, the North was able to produce more war materials and move goods more quickly than the South. Furthermore, the farms of New England, the Mid-Atlantic, the Old Northwest, and the prairie states supplied Northern civilians and Union troops with abundant food throughout the war. Food shortages and hungry civilians were common in the South, where the best land was devoted to raising cotton, but not in the North.

Questions & Answers

it is the relatively stable flow of income
Chidubem Reply
what is circular flow of income
Divine Reply
branches of macroeconomics
SHEDRACK Reply
what is Flexible exchang rate?
poudel Reply
is gdp a reliable measurement of wealth
Atega Reply
introduction to econometrics
Husseini Reply
Hi
mostafa
hi
LEMLEM
hello
Sammol
hi
Mahesh
bi
Ruqayat
hi
Ruqayat
Hi fellas
Nyawa
hey
Sammol
hi
God
hello
Jahara
Good morning
Jorge
hi
abubakar
hi
Nmesoma
hi
Mahesh
Hi
Tom
Why is unemployment rate never zero at full employment?
Priyanka Reply
bcoz of existence of frictional unemployment in our economy.
Umashankar
what is flexible exchang rate?
poudel
due to existence of the pple with disabilities
Abdulraufu
the demand of a good rises, causing the demand for another good to fall
Rushawn Reply
is it possible to leave every good at the same level
Joseph
I don't think so. because check it, if the demand for chicken increases, people will no longer consume fish like they used to causing a fall in the demand for fish
Anuolu
is not really possible to let the value of a goods to be same at the same time.....
Salome
Suppose the inflation rate is 6%, does it mean that all the goods you purchase will cost 6% more than previous year? Provide with reasoning.
Geetha Reply
Not necessarily. To measure the inflation rate economists normally use an averaged price index of a basket of certain goods. So if you purchase goods included in the basket, you will notice that you pay 6% more, otherwise not necessarily.
Waeth
discus major problems of macroeconomics
Alii Reply
what is the problem of macroeconomics
Yoal
Economic growth Stable prices and low unemployment
Ephraim
explain inflationcause and itis degre
Miresa Reply
what is inflation
Getu
increase in general price levels
WEETO
Good day How do I calculate this question: C= 100+5yd G= 2000 T= 2000 I(planned)=200. Suppose the actual output is 3000. What is the level of planned expenditures at this level of output?
Chisomo Reply
how to calculate actual output?
Chisomo
how to calculate the equilibrium income
Beshir
Criteria for determining money supply
Thapase Reply
who we can define macroeconomics in one line
Muhammad
Aggregate demand
Mohammed
C=k100 +9y and i=k50.calculate the equilibrium level of output
Mercy Reply
Hi
Isiaka
Hi
Geli
hy
Man
👋
Bahunda
hy how are you?
Man
ys
Amisha
how are you guys
Sekou
f9 guys
Amisha
how are you guys
Sekou
ys am also fine
Amisha
fine and you guys
Geli
from Nepal
Amisha
nawalparasi district from belatari
Amisha
nd u
Amisha
I am Camara from Guinea west Africa... happy to meet you guys here
Sekou
ma management ho
Amisha
ahile becheclor ho
Amisha
hjr ktm bta ho ani k kaam grnu hunxa tw
Amisha
belatari
Amisha
1st year ho
Amisha
nd u
Amisha
ahh
Amisha
kaha biratnagar
Amisha
ys
Amisha
kina k vo
Amisha
money as unit of account means what?
Kalombe
A unit of account is something that can be used to value goods and services and make calculations
Jim
all of you please speak in English I can't understand you're language
Muhammad
I want to know how can we define macroeconomics in one line
Muhammad
it must be .9 or 0.9 no Mpc is greater than 1 Y=100+.9Y+50 Y-.9Y=150 0.1Y/0.1=150/0.1 Y=1500
Kalombe
Mercy is it clear?😋
Kalombe
hi can someone help me on this question If a negative shocks shifts the IS curve to the left, what type of policy do you suggest so as to stabilize the level of output? discuss your answer using appropriate graph.
Galge Reply
if interest rate is increased this will will reduce the level of income shifting the curve to the left ◀️
Kalombe
Got questions? Join the online conversation and get instant answers!
Jobilize.com Reply

Get Jobilize Job Search Mobile App in your pocket Now!

Get it on Google Play Download on the App Store Now




Source:  OpenStax, U.s. history. OpenStax CNX. Jan 12, 2015 Download for free at http://legacy.cnx.org/content/col11740/1.3
Google Play and the Google Play logo are trademarks of Google Inc.

Notification Switch

Would you like to follow the 'U.s. history' conversation and receive update notifications?

Ask