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AP us history

AP US History
Monique Lynn
President Davis versus President
Lincoln

Limitations on Wartime
Liberties

Volunteers and
Draftees: North and South

The Economic
Stresses of War

Friday, September 27, 2013

The one defect of the South was that its own states could secede. Some state troops refused to serve outside their borders.President Jefferson Davis of the
Confederacy often had disputes with his own congress. Davis's task as
President proved to be beyond his powers. Lincoln and the North enjoyed a long-established government that was financially stable and fully recognized at home and abroad.
Due to the fact that Congress was not in session when the war broke out,
President Lincoln proclaimed a blockade, increased the size of the Federal army, directed the secretary of the Treasury to advance $2 million without appropriation or security to 3 private citizens for military purposes, and suspended the habeas corpus (stated that a citizen could not be held without the due process of a trial) - all of which were required to be approved by
Congress.
Due to lack of volunteers, Congress passed in 1863 a federal draft law. Men who were called in the draft could pay $300 in order to buy a replacement. The
Confederacy also passed a draft law.
The North increased tariffs and excise taxes to financially support the war. It also created the first income tax. In early 1861, after enough anti-protection
Southern members had seceded, Congress passed the Morrill Tariff Act. It was a high protective tariff that increased duties 5%-10%. The increases were designed to raise additional revenue and provide more protection for the prosperous manufacturers. A protective tariff became identified with the
Republican Party.The Washington Treasury issued green-backed paper money.
The greenbacks were backed by the nation's fluctuating gold supply. Hence, the value of the greenback was constantly changing.
In 1863, Congress authorized the National Banking System. It was designed to stimulate the sale of government bonds and to establish a standard bank-note currency. Banks who joined the National Banking System could buy government bonds and issue sound paper money backed by the bonds.

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