[Grand Old Partisan]

Not hardly was the U. S. Government broke. Remember, the federal government expended nearly $4 billion during the Civil War (in 1860s money !!), almost none of which was raised in the South.

[WhiskeyPapa]

Not hardly was the U. S. Government broke. Remember, the federal government expended nearly $4 billion during the Civil War (in 1860s money !!), almost none of which was raised in the South.

Yeah, at some point in 1864, President Lincoln said something like: "Our resources are unexhausted and are, we think, inexhaustible."

All the rebels had was cotton, slaves, and arrogance.

That's what CSA stands for, right?

Walt

[PeaRidge]

"Not hardly was the U. S. Government broke."

Yes it was. It was deeply in debt, and was having to pay domestic and overseas financiers double the interest rates it normally paid to borrow.
When Lincoln took office, there was only enough in the treasury to run the government for 10 weeks.
Investors wouldn't lend money unless he could deliver cotton and tobacco to England.
Get the picture?