1. How Did the North Win?
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Description
The Economics of the Civil War should instruct us in ways that the history of the Civil War might not. Cotton had much to do with what the war was about. Slavery as a cause of the Civil War is a modern development. How did the Union win the war? How did the aftermath of the war affect our own lives? What lessons can benefit us?
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Published 03/09/05
Black reconstruction after the Civil War did much better than the dire predictions made. The black population recovered quickly. Many moved to urban areas. They deliberately had fewer children. Mortality declined. Income increased. No government assistance was handed out.
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There was a sea change in money and banking in the U.S. as a result of the Civil War. Government became the primary regulator. Metal coins gave way to paper. Mistakes of one bank infected others – it was contagion.
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