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How Did Financing Influence The American Civil War

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I. Introduction a. Attention Step – The American Civil War became the bloodiest conflict the Nation had ever seen due to the advances in the Western way of war. b. Thesis – Financing is the most predominant characteristic of the Western way of war which best exemplified the American Civil War. War financing for both the Union and Confederate States was pivotal in providing new technology and changing the direction of the war. II. Financing provided both sides with the ability to improve technologies, such as advancements in artillery, muskets and doctrine. Industrial improvements such as the railroad allowed for the rapid movement of supplies and larger armies over greater distances. a. With the ability to buy new and improved weapons, …show more content…

The Logistical sustainment of its large Army while moving was essential in the outcome of the Civil War. Without this logistical superiority, the Union would not have been able to drive so deep into the Southern States. IV. The Confederacy was unable to compete economically with its Northern foe even though it tried to generate wealth through the same methods of taxation and bond sales. a. The reluctance to tax land and slaves or direct its member states to collect taxes while not regulating currency, resulted in hyper-inflation and counterfeiting and a reluctance of lenders to want to do business. b. The lack of supplies to the front lines and the needs of the Army led to the creation of the “tax-in-kind” program where the government took one tenth of its citizens’ crops, animals and supplies. V. Conclusion –Both the Union and Confederate governments realized that financing was instrumental to the outcome of the war. The South’s lack of wealth showed to be its Achilles heel as it was unable to pay, equip or supply its troops who ultimately lost their will to fight. The North on the other hand was able to generate wealth through numerous legislative acts and economic policies that lead to the ability to supply its troops and eventually break the will of the Southern soldier. It was this disparity in the finance system that allowed the northern army the supplies, equipment, and men to break the bank of the southern states and ultimately the will of the Southern

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