Dante
We Are The Third Man
- Thread starter
- #221
The Civil War was more about outside interference from European foreigners than slavery. The Euro financiers wanted a fiat currency and tried since the United States started. With a split nation they believed that would be easy to get one of the two nations formed to get their currency. Slavery was being denigrated around the planet. It may have lasted only a decade or so without a war.
I had a friend who was a very accomplished historian - born and raised in Charleston S.S.. He is recognized by the state of South Carolina, having done research for the history of government there. He always told me to never, ever allow an apologist and shouter for the Lost Cause, to claim Slavery was not the main reason for secession. So here we go:
"South Carolina was the first state to secede from the Union, taking the action on December 20, 1860. The state's separation was formally enacted and later explained through two primary documents:
The South Carolina Ordinance of Secession (December 20, 1860): This was the brief, legalistic document drafted and adopted by a state convention in Charleston. It officially repealed the state's ratification of the U.S. Constitution and declared that the union between South Carolina and the United States was dissolved.
The Declaration of the Immediate Causes Which Induce and Justify the Secession of South Carolina (December 24, 1860): Often referred to as South Carolina's Secession Declaration, this document was drafted four days after the Ordinance. It was published to explain to the world the reasons behind the state's decision, prominently citing the election of Abraham Lincoln and the perceived threat to the institution of slavery."
YOUR BS/BOGUS/ SIMPLETON ARGUMENT - USUALLY REGURGITATED BY LOW INFORMATION/EDUCATION NITWITS LIKE YOU:
The argument that financiers wanted the Civil War to force a shift to fiat currency is historically backward. Wall Street financiers actually favored a hard commodity (gold) standard, as it protected the value of their investments. The Union was forced to issue fiat currency ("greenbacks") because it was on the brink of bankruptcy after traditional banks refused to lend gold at affordable rates. [1, 2, 3, 4]
Union Financing Breakdown:
- Debt / Bonds (~66%): The majority of the war was funded through the sale of war bonds, which required investors to eventually be paid in gold, ensuring profit for the financial class.
- Taxes (~20%): Congress passed the Revenue Act of 1862, instituting the first federal income tax and various excise taxes to build confidence among bondholders.
- Fiat Greenbacks (~14%): The Legal Tender Act of 1862 authorized roughly \(\$150\) million in unbacked paper money out of sheer necessity to pay soldiers and buy immediate supplies, rather than a desire for monetary reform. [1, 2, 3, 4, 5]
- Wall Street's Preference: Financiers and treasury agents like Jay Cooke made massive profits selling government bonds and actually pushed for economic policies that favored the gold standard, fighting against the unchecked printing of paper money.
- The Confederate Collapse: The Confederacy relied heavily on money printing (over \(1.5\) billion in "greybacks") because they lacked the industrial infrastructure and democratic tax authority of the North, leading to devastating hyperinflation