Читать книгу American Civil War For Dummies - Keith D. Dickson - Страница 128

The financial advantages include the structure and soundness of the banking system, availability of credit, debt structure of the government, and the financial system, as well as the government’s tax system. The availability of ready cash reserves (gold and silver) and numerous banks in the North allowed the government to borrow and pay for the costs of raising armies. The South, lacking these financial resources because most of its wealth was tied up in land and slaves, was crippled from the very beginning to finance the huge expenditures necessary to fight a war. The short time between the creation of the Confederate government and the onset of a war for independence caused enormous challenges simply to organize a system of taxation and obtain credit.