The growth of total war in the twentieth century has increasingly focused our attention on the importance and role of domestic economic relationships, particularly those concerned with fiscal policy. The problem of financing a war effort is not a new one however, and the outcome of many a struggle has hinged upon its effective solution. In the case of the American Civil War, a contemporary historian has written: “One of the most fundamental causes of the ultimate failure of the Confederacy lay in its unwise financial policies.“ 1 That the failure to devise an effective fiscal structure was a contributory factor in the collapse of the Confederacy, will be doubted by few historians.
Thompson, Arthur W.
"Confederate Finance: A Documentary Study of a Proposal of David L. Yulee,"
Florida Historical Quarterly: Vol. 30:
2, Article 4.
Available at: https://stars.library.ucf.edu/fhq/vol30/iss2/4