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How did the scarcity of essential goods like salt impact the Southern economy?
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Salt shortages affected meat preservation, illustrating the broader scarcity of essential goods and contributing to economic hardship.
Explain the significance of the Mobile Bread Riot of 1863.
The Mobile Bread Riot of 1863 was a violent demonstration reflecting civilian distress due to food shortages and economic strain.
How did the Union and Confederacy differ in their use of taxation to finance the war?
The Union relied more on taxation, while the Confederacy relied heavily on issuing paper money.
What were the social impacts of economic hardships in the South, as exemplified by bread riots?
Economic hardships led to food scarcity and social unrest, evident in events like the Mobile Bread Riot of 1863.
What were the three primary methods both the Union and Confederacy used to finance the Civil War?
Taxation, borrowing (issuing bonds), and issuing paper money.
What was the significance of the North declaring paper money as legal tender?
Declaring paper money as legal tender meant it had to be accepted for all debts and payments, helping to stabilize its value in the North.
What are ersatz materials, and how were they used by the South during the Civil War?
Ersatz materials are substitutes used in place of scarce goods; the South increasingly relied on these as resources dwindled.
What was the South's main economic resource during the Civil War?
Cotton.
What was the tax-in-kind system introduced by the Confederacy in 1863, and what were its consequences?
The tax-in-kind system allowed the Confederate army to appropriate goods directly from farms, causing resentment among poorer families.
How did the Civil War affect the global cotton market?
The South's cotton embargo led to changes in the global cotton market post-war, as other regions developed alternative sources.
Why did the South's paper money devalue rapidly compared to the North?
Unlike the North, the South did not declare its paper money as legal tender, leading to rapid devaluation.
What role did Northern control play in the economic deterioration of the South?
As Northern control expanded, it stripped the South of essential resources, contributing to economic deterioration.
What was the cotton embargo strategy, and why did it fail?
The strategy aimed to coerce foreign support by withholding cotton exports, but it failed due to existing stockpiles and alternative sources.
Why were Southern planters reluctant to pay taxes, and how did this affect Confederate finances?
Southern planters were unwilling to pay taxes, which was a major source of money, leading to financial difficulties for the Confederacy.
What was McKitrick's main argument regarding the Southern economy during the Civil War?
McKitrick argued that the South's societal structure, particularly the power of the planter class, significantly impacted its economic policies and created financial issues.
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