Search results
Results from the WOW.Com Content Network
Another sharp increase in the debt occurred as a result of the Civil War. The debt was just $65 million in 1860, but passed $1 billion in 1863 and reached $2.7 billion by the end of the war. During the following 47 years, there were 36 surpluses and 11 deficits. During this period 55% of the national debt was paid off.
The economic history of the American Civil War concerns the financing of the Union and Confederate war efforts from 1861 to 1865, and the economic impact of the war. The Union economy grew and prospered during the war while fielding a very large Union Army and Union Navy . [ 1 ]
It shows the outline of 42 states and Indian Territory, a Civil War battle scene, and Liberty holding U.S. flag and sword riding on the back of an eagle, Abraham Lincoln and his cabinet (the secretaries linked to images of the Army, Navy, Treasury, Interior, P.O. Dept., and State Department) representing the "Executive" branch, the Senate and ...
We hope you'll enjoy the following interactive series of charts on the U.S. debt ceiling from 1917 to the present day. For more information on the history of the debt ceiling, please click here ...
At the beginning of the war, the Confederate dollar cost 90 cents in gold dollars. By the war's end, its price had dropped to 1.7 cents. [2] Overall, prices in the South increased by more than 9000% during the war, averaging about 26% a month. [3]
Over a century later, the public debt topped $1 trillion for the first time in 1982 under Ronald Reagan and more than doubled during his presidency — and it's been climbing steadily since then.
The national debt of the United States was measured in billions for most of the country's history, until Oct. 22, 1981, when routine Treasury transactions pushed the debt above the
During the early 1870s, Treasury Secretaries George S. Boutwell and William Adams Richardson maintained that, though Congress had mandated $356,000,000 as the minimum Greenback circulation, the old Civil War statutes still authorized a maximum of $400,000,000 [nb 1] —and thus they had at their discretion a "reserve" of $44,000,000.