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To: PeaRidge
In 1860, the total amount of specie available in Northern banks was not enough to finance 20% of the next year's imports if Southern goods no longer were shipped out from the North.

And yet in 1863 there was enough specie available to fund enough imports to generate over $100 million in tariffs. Where did it come from?

Without southern exports, the entire trade/tariff program, that totally financed the US government would come to a halt.

Then why didn't it?

1,894 posted on 08/09/2009 5:39:22 PM PDT by Non-Sequitur
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To: Non-Sequitur
The first problem in your post is that in 1863 the government did not receive $100 million in tariff collections. So the premise of your question is invalid.

Next, when you have the correct data on tariff collections by year, we can discuss this further.

1,910 posted on 08/10/2009 1:35:28 PM PDT by PeaRidge
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