Four Years in Rebel Capitals An Inside View of Life in the Southern Confederacy from Birth to Death
CHAPTER XXVI.--The Failure of Finance 223-229
Was Cotton really King? How it Might have been Made So. Government's Policy. Comparison with Northern Finance. Why the South believed in her Advantage. How the North buoyed up her Credit. Contractors and Bondholders. Feeling at the South on the Money Question. Supply and Demand for Paper. Distrust creeps In. Rapid Depreciation.