Circa1865

It did not take long after Fort Sumter for Northern war expenditures to reach staggering proportions. James Randall in his “Civil War and Reconstruction” (1937, DC Heath) wrote: “With the treasury nearly empty, financial markets shaken, foreign bankers unsympathetic, taxation inadequate, and loans unmarketable except at a discount, the door of escape by way of paper money seemed most tempting.” Lincoln resorted to the printing press to create money.

Bernhard Thuersam, www.Circa1865.com

Lincoln’s Inflationary Finances

“The classic study of Union inflation was Wesley Clair Mitchell century-old “History of the Greenbacks.” Initially the war was to be financed with the use of government bonds, tax revenues would be used to pay the normal expenditures of government, and the gold standard would be retained. However, this system quickly collapsed in late 1861 and the first of three legal tender acts was passed in February 1862 with a total of $450 million in greenbacks authorized for issue.

When an economy has two types of money, such as gold and paper, and they are both defined in the same units, such as dollars, Gresham’s Law states that bad money will drive good money out of circulation. And in accordance with Gresham’s Law, greenback dollars quickly displaced gold dollars as the circulating medium of exchange.

The value of greenbacks quickly depreciated in terms of gold and fell to a low point of only 35 cents worth of gold on July 11, 1864. Amazingly, the Union currency had depreciated as much in three short years as the dollar has in the thirty years since the United States went off the gold standard. The prices of goods appreciated in terms of greenbacks from an index value of 100 in 1860 to a maximum of 216.8 in 1865.

Citizens tended to blame higher prices on business, speculators, and foreigners. Some government officials believed that speculators in the gold market were somehow causing the value of greenbacks to fall, but the real culprit for inflation was the government itself.

In addition to an ever-increasing supply of greenbacks, Mitchell showed that the value of greenbacks in terms of gold would change on the basis of expectations that in turn were based on peoples’ estimated probability that the greenbacks would be redeemed for gold after the war. Battlefield losses were associated with declines in value while victories meant higher values for the greenback.

Higher prices also meant that the Union government would have to issue more greenbacks in order to purchase war supplies and pay its soldiers [and pay enlistment bounties]. Because the Union government would eventually have to pay its war debts and redeem the greenbacks in gold, Mitchell . . . calculated that greenbacks had increased the real cost of the war to the government itself by $528 million. Of course, the politicians who borrowed and spent the money during the war were not necessarily the same ones who had to pay off the debt and redeem the greenbacks after the war.

Mitchell also found that the switch from gold to paper . . . [created] an illusory increase in property values, an increase in extravagance and the purchase of luxury goods, a crippling of economic efficiency, and a decrease in real wages for farmers, laborers, professionals, teachers and soldiers. As expected, the Union’s inflationary finances created an illusion of general prosperity that greatly upset the ability of entrepreneurs, workers, consumers, and bureaucrats to make accurate economic calculations.”

(Tariffs, Blockades and Inflation: The Economics of the Civil War; Mark Thornton and Robert Ekelund, Jr., Scholarly Resources Books, excerpts, pp. 68-69)

What General Enoch Crowder warned of below was reminiscent of Reconstruction’s political control in the South, as Washington-recognized Northern carpetbag governors and legislators gained official recognition and were free to engage in fraudulent political methods and elections to remain in power. Under Lincoln and the Republican Radicals, the US government became “a blind instrument for fastening an undesirable or fraudulent government upon a people” – 50 years later the Cuban people were assured of fraudulent government fastened by Washington.

Bernhard Thuersam, www.Circa1865.com

Liberator and Imperial Protector

“The conditions imposed on Cuban independence at the end of the American military occupation in 1902 had effectively subjected Cuban sovereignty to U.S. supervision. “The Government of Cuba,” Article III of the Platt Amendment stipulated, “consents that the United States may exercise the right to intervene for the preservation of Cuban independence, the maintenance of a government adequate for the preservation of life, property and individual liberty, and for discharging the obligations with respect to Cuba imposed by the Treaty of Paris on the United States.

By virtue of the Platt Amendment, Washington assumed ultimate responsibility for underwriting the solvency of national administration. The very conduct of [Cuban] national politics emerged as a source of policy concern in Washington. The American presence in Cuba loomed pervasively, functioning always as the understood coefficient of all political strategies.

Specifically, the Platt Amendment, as the understood basis of U.S. Cuban policy, encouraged outright an incumbent party, assured of American support, to embark on a course of partisan excesses, including reelection through illegal, if ostensibly constitutional, methods.

As early as 1912, General Enoch H. Crowder, the U.S. legal advisor during the second intervention, caution Washington against becoming captive to the political maneuvers of any single faction in Cuba. With a sober understanding of . . . U.S. – Cuban treaty relations, Crowder warned:

“Having once gained the official recognition of this government, and so become “the duly constituted authority,” . . . it could by fraudulent practices as was undoubtedly done in the last election for President prior to the election of 1906, secure its apparent reelection, and if the protest became too violent to overcome, such government would only have to notify the President of the United States and request assistance. The right of a people to change their rulers, and in fact change their form of government when it becomes subversive of the principle for which it is instituted . . . is essential to the preservation of a free government . . . Provision should be made that the United States will not be made the blind instrument for fastening an undesirable or fraudulent government upon a people whom we profess to be preserving a free government.”

Crowder’s plea went unheeded. On the contrary, within a year, Woodrow Wilson proclaimed constitutionality as the cornerstone of US Latin American policy . . . “We are the friends of constitutional government in America, Wilson averred, “We are more than its friends, we are its champions.”

(Intervention, Revolution and Politics in Cuba, 1913-1921; Louis A. Perez, Jr., University of Pittsburgh Press, 1978, excerpts pp. 11-12)

Abraham Lincoln was a devotee of the Alexander Hamilton/Henry Clay “American System” of public debt, tariff protectionism, government subsidies and a national bank. To finance his war in 1861, Lincoln turned to an income tax, and then succumbed to printing money. Nowhere in the United States Constitution is the federal government authorized to make paper money legal tender. By 1865, the public debt was $2.6 billion, and the direct/indirect cost of Lincoln’s war would reach $8 billion by 1900.

www.Bernhard Thuersam, www.Circa1865.com

Public Debt, Then and Now

“Contrary to official capitalist wisdom, debt does not create economic growth. This idea is a swindle. Interest to the very rich . . . does not produce anything. It does not multiply creatively into new enterprises and jobs; it merely diverts ever-greater proportions of earning that might be fruitfully invested.

The proof is all around us. How could the vast unpayable federal debt, which absorbs much of the government’s income just for the interest bondholders, foreign and domestic, possibly be an economic stimulus? How can the immense and near universal burden of personal mortgage and credit card debt possibly indicate a healthy economy and commonwealth?

The matter is simple, obvious to anybody except a politician, a captive economist, or a media flack, and it ought to be conveyed to the people at every opportunity. Debt is killing us. Every wise man in recorded history has affirmed that debt is not a good thing. Debt can destroy a family, a government, a society.

Alexander Hamilton, an upwardly mobile immigrant bastard with a Napoleon complex, declared that “a public debt is a public blessing.” Troubled, but not surprised, Jefferson noted a connection between debt cruel taxation that undermined the independence of the citizens, warning that “we must not let our rulers load us with perpetual debt.”

Weighed down by government debt, the people would have to labor ever harder to pay the debt-holders, leaving them “no time to think, no means of calling the managers to account.” Jefferson avowed as a core principle that “the earth belongs in usufruct to the living,” but the living had no right to consume the earnings of posterity.

Antebellum statesmen like John Taylor of Caroline and John C. Calhoun and economists like William Gouge and Condy Rageut made the same case. After the War Between the States, so did William Graham Sumner, Thomas E. Watson and countless other public men and thinkers.

Republicans (and their predecessors) have always been the party of bankers and bondholders, service to the rich being for them a natural and essential function of the federal government. Opposition to the federal debt was long a plank in the Democratic platform, but Democrats today are just as guilty as the Republicans in regard to the issue.

Lip service to the virtue of “low public debt” continued until Franklin Roosevelt discovered Keynes and declared that debt is no problem “because we owe it to ourselves” – “ourselves” being a conveniently vague and collective being.

The bipartisan bailout of misbehaving bankers and brokers that we saw a few years ago, and the failure of a multitude of presidential candidates to mention the matter, is not promising.”

(It’s the Debt, Stupid, Clyde N. Wilson, Chronicles, February 2016, excerpt pg. 16)

April, 1865 witnessed the victory of Northern industrial capitalism over the conservative, agrarian South – no longer could Southern statesmen restrain the North in the halls of Congress. Post-1865 America saw the rise of corporations, the completion of Manifest Destiny and near-extermination of the Indians, and the gilded age of “evil robber barons.”

Bernhard Thuersam, www.Circa1865.com

Unproductive Republican Economic Policies

“Historians have tended to treat the Civil War as a boon to industry and the American economy. Thomas C. Cochrane cites several prominent historians . . . who variously praised the impact of the conflict on wartime production and its stimulating effect on postwar economic and industrial development.

Cochrane . . . examined statistical data on industrial production and found that, in general, there was not a strong case for a positive impact and that the war had a retarding effect on industry and the economy. Cochrane also found little support for the claims of beneficial effects of the Civil War on postwar development. He concludes with this speculation:

“From most standpoints the Civil War was a national disaster, but Americans like to see their history in terms of optimism and progress. Perhaps the war was put in a perspective suited to the culture by seeing it as good because in addition to achieving freedom for the Negro it brought about industrial progress.”

[Charles and Mary] Beard’s claim that the Civil War was a spur to industry and the rise of the American economy is based on the lasses-faire philosophy of the Republican Party and its success in implementing its major policy goals, such as subsidies to the intercontinental railroads, the establishment of a national currency and the protective tariff.

The Republican’s economic philosophy was not truly laissez-fair. In fact, their policy agenda was the opposite . . . in that it advocated special treatment for big business and a much larger role for the federal government. This can be seen in Republican policies to subsidize railroads, provide protective tariffs [for select private industries], and increase government debt and government control over money and banking as well as in their attitude toward labor.

Their policies [of tariffs and subsidies] . . . are now considered economically wasteful . . . and considered nothing more than special interests seeking a handout from the taxpayer through the government. [That Republican policies were productive] ignores the negative effects on the agriculture, service and cultural sectors. The Republicans’ policy would be better labelled as mercantilist in that it facilitated rent-seeking behavior.

Capital diverted to railroad building would surely have been put to good use elsewhere in the economy . . . [and] Moreover, had railroads not been highly subsidized, a better built, lower cost, and more timely system could have been put in place.

Tariffs were a centerpiece of Republican policy. They reversed a relatively free-trade policy . . . [and] protectionism forced consumers to pay higher prices for both imported and domestically produced goods protected by the tariff – that is, they purchased fewer of these products, used less desirable substitutes, and had a lower standard of living.

On net, the losses to consumers and the overall economy are greater than the gains to the protected producers and the tax revenue that accrues to the government.”

(Tariffs, Blockades and Inflation, the Economics of the Civil War; Mark Thornton and Robert B. Ekelund, Jr., Scholarly Resources Books, 2004, excerpts, pp. 84-87)

Few, if any, Gilded Age tycoons were expert economists – but all understood theories of supply and demand, the law of diminishing returns, and assumed that every man was motivated by the selfish love of gain. Most also believed in unfettered competition, theoretically, unless bribed government officials could be used to handicap competitors. U.S. Grant’s notorious administration of corrupt and bought politicians helped pave the way into the Gilded Age – the predictable outcome of Lincoln’s revolution.

Bernhard Thuersam, www.Circa1865.com

Corporate Tricks and Devices

“Nobody expounded the folly of tampering with the laws of economics more eloquently than Yale’s great teacher of political economy, the dynamic William Graham Sumner. In his book What Social Classes Owe to Each Other, published in 1883, he had put the reformers to rout.

“The yearning after equality,” he had written, “”is the offspring of envy and covetousness, and there is no possible plan for satisfying that yearning which do aught else than rob A to give to B; consequently all such plans nourish some of the meanest vices of human nature, waste capital, and overthrow civilization.”

This emphatically did not mean that Sumner was opposed to a better life for everybody. On the contrary, as a man of high and generous principle – he had begun his working life as a clergyman – he was heartily in favor of it. But he believed in the wider extension of opportunity, not in changing the rules under which business was conducted. He argued that:

“[Instead] of endeavoring to redistribute acquisitions which have been made between the existing classes, our aim should be to increase, multiply, and extend the chances. Such is the work of civilization. Every improvement in education, science, art or government expands the chances of man on earth. Such expansion is no guarantee of equality. On the contrary, if there be liberty, some will profit by the chances eagerly and some will neglect them altogether. Therefore, the greater the chances, the more unequal will be the fortune of these two sets of men. So it ought to be, in all justice and right reason.”

Sumner would not have argued that there were not some ways in which legislation could protect the economically helpless. But he thought that most reform legislation was conceived in ignorance and drafted in folly.

“You need not think it necessary,” he would tell his Yale classes, “to have Washington exercise a political providence over the country. God has done that a good deal better by the laws of political economy.”

The irony of the situation lay in the fact that for generations men have been tinkering with economic law to their own advantage, and in the process had produced institutions which were emphatically not God’s work – as most of Sumner’s hearers presumably supposed them to be – but man’s.

The corporation, for instance, was not an invention of God’s. It was an invention of man’s. It was a creature of the state . . . [and] one of the great inventions of the nineteenth century . . . Yet be taking adroit advantage of the legislative acts which defined its privileges, one could play extraordinary tricks with it. Corporate devices could be used to permit A to rob B – or, let us say, more charitably, to permit A to drain off all the gravy in sight and leave none for B.

It was largely as a result of the discovery of tricks that could be played with corporations, and particularly with their capital stock, that the wealth produced in such a tremendous spate at the turn of the century flowed in large proportion into a few well-placed hands.”

(The Big Change, America Transforms Itself, 1900-1950, Frederick Lewis Allen, Harper & Brothers, 1952, pp. 67-69)

Like other conquered Southern States, South Carolinians at the close of the war found themselves within a Union not of their choosing, yet they we not “of” this Union. Their governor was a prisoner of war, they were under martial law, and would be soon under the rule of their former servants.  The Robert Small (or Smalls) mentioned below is credited with the theft of the steamer Planter during the war, and delivering it to the Northern fleet which was aiding and abetting the enemy, and treason against South Carolina.

Bernhard Thuersam, www.Circa1865.com

South Carolina’s Legislature of Crooked Aliens

“In the [postwar South Carolina] Senate Chamber sat Major Corbin . . . a captain of Vermont troops badly wounded in the war and for a time in Libby prison, he had remained in military service until the end of the war and was then ordered to Charleston in charge of the Freedmen’s Bureau.

In the same body with Major [David T.] Corbin sat Robert Small, who while still a slave had won national fame as a pilot by running the Planter out of Charleston harbor to the Federal fleet. Some of the local black folk said that he did this in fear and trembling at the mouth of a loaded pistol leveled by a braver and more determined slave, one who never shared in the fame of the Planter exploit and was big enough not to care to.

Another of those South Carolina Senators was Beverly Nash. Black as charcoal . . . he was the perfect type of the antebellum ideal of a “white gentlemen’s colored gentleman.”

Besides those three . . . Senators, there was Leslie, once a member of the New York legislature, shrewd, crooked and cynical. And there was  [B.F.] Whittemore [of Massachusetts], who had got national notoriety while in Congress by selling a West Point cadetship for money instead of the customary price which was influence.

For the rest, the Senate floor was occupied by whites and blacks . . . But there was nobody of the old romantic type of South Carolina aristocrat. At the president’s desk sat a Negro, Lieutenant-Governor A.J. Ransier, who presided with dignity . . . A year or two before he died and [he was] working as a street cleaner in Columbia . . .

In the [House] chamber at the other end of the capitol building . . . were a great body of members, mostly Negroes. The body as a whole was in a legislative atmosphere so saturated with corruption that the honest and honorable members of either race had no more influence in it than an orchid might have in a mustard patch.”

(A “Carpetbagger” in South Carolina, Louis F. Post; Journal of Negro History, Carter G. Woodson, editor, Volume 10, January 1925, excerpts, pp. 15-17)

The writer below left New York for South Carolina in November, 1870 for a position as a law clerk for a US Attorney and State Senator David Corbin, a New York native and fellow carpetbagger. Expecting to see “orange groves and palms” upon his arrival, the writer instead gazed upon blackened ruins “rudely shattered by a conquering foe.”

Bernhard Thuersam, www.Circa1865.com

Suppose a Triumphant Confederate Government

“Ten years after the secession of South Carolina and less than six after the close of the consequent Civil War between the States, I became a South Carolina “carpetbagger.” That is, I migrated from our “Empire” to the “Palmetto” State.

What I say [about carpetbaggers and scalawags] is said in no caviling temper. Whether to the debit or credit side, it must go to the account not of South Carolina nature in particular, but of human nature in general. No doubt the inhabitants of every other community in the world would in similar circumstances have acted as South Carolinians did. Take Massachusetts, for instance, the State which in those days and for two generations before was cross-matched with South Carolina in the harness of American politics.

Suppose the Confederacy had triumphed in the Civil War. Suppose it had not been satisfied with establishing secession of the Southern States, but had forcibly annexed the other States to the Confederacy under provisional governments subordinate to the Confederate authorities at Richmond. Suppose that in pursuit of this policy the Confederacy had placed Southern troops in Massachusetts, established bureaus in aid of foreign-born factory hands, unseated Massachusetts officials, and disenfranchised all voters of that aristocratic Commonwealth of New England who rejected an oath of allegiance they abhorred.

Suppose that in consequence Southern “fire eaters” and Massachusetts factory-hands had together got control of the State and local governments, had repealed laws for making foreign-born factory hands stay at home of nights and otherwise to “know their place,” and were criminally looting the treasury and recklessly piling State and county debts mountain high.

Suppose also that the same uncongenial folk were administering national functions under the patronage of a triumphant Confederate government at Richmond – the post offices, custom houses, internal revenue offices and all the rest. And suppose that this had been forcibly maintained by detachments of the victorious Confederate army, some of the garrisons being composed of troops recruited from alien-born factory hands.

Suppose moreover that there had been sad memories in Boston, as there were in fact in Charleston, of a mournful occasion less than ten years before, when the dead bodies of native young men of Brahmin breed to a number equaling 1 in 100 of the entire population of the city had lain upon a Boston wharf, battlefield victims of that same Confederate army now profoundly victorious. And suppose that weeds had but recently grown in Tremont Street as rank as in an unfarmed field, because it had been in range of Confederate shells under a daily bombardment for two years.

I am imagining those conditions in no criticism of Federal post-war policies with reference to the South nor as any slur upon the factory hands of New England, but for the purpose of creating the state of mind capable of understanding the South Carolina of 1871 by contrasting what in either place would at the time have been regarded as “upper“ and “lowest” class. If my suppositions do not reach the imagination, try to picture a conquest of your own State by Canada, and fill in the picture with circumstances analogous to those in which South Carolina was plunged at the time of which I write.”

(A “Carpetbagger” in South Carolina, Louis F. Post; Journal of Negro History, Carter G. Woodson, editor, Volume 10, January 1925, excerpts, pp. 11-12)

As asserted below, Americans in general seem unaware of the enormity of the Southern experience 1861-1865 and the aftermath of devastating defeat and subjugation. The author’s analogy brings needed perspective to an unnecessary war and death of a million Americans, counting military and civilian casualties.

Bernhard Thuersam, www.Circa1865.com

Suppressing the Consent of the Governed

“Imagine America invaded by a foreign power, one that has quadruple the population and industrial base. Imagine that this enemy has free access to the world’s goods as well as an inexhaustible supply of cannon fodder from the proletariat of other countries, while America itself is tightly blockaded from the outside world.

New York and Cincinnati have been taken. For months, Boston and Chicago have been under constant siege, the civilian population driven from their homes. Enemy forces roam over large parts of the country burning the homes, tools and food of the noncombatants in a campaign of deliberate terrorism.

Nearly eighty-five percent of the nation’s able-bodied men (up to 50 years of age) have been called to arms. Battlefield casualties have run to 39 percent and deaths amount to half of that, far exceeding those from any other war.

On the other hand, the enemy, though its acts and domestic propaganda indicate otherwise, is telling the American population that it only wants peace and the restoration of the status quo antebellum. Lay down your arms and all will be as before. What would be our state of morale in such conditions? Americans have never suffered such misfortune, have they?

Alas, they have. This was the experience of the Southern people from 1861-1865 in their lost War for Independence.

How hard the Southerners struggled for independence from the American Empire has been, and continues to be, suppressed by a nationalist culture that can only wonder: How could any group possibly have dissented from the greatest government on earth? But a very large number of Americans did no consent that government (the regime, after all, was supposed to be founded on the consent of the governed).

They were willing to put their dissent on the line in a greater sacrifice than any large group of Americans has ever been called on to make. Until finally, as a disappointed Union officer quoted by [author Gary] Gallagher remarked: “The rebellion [was] worn out rather than suppressed.”

(An Honorable Defeat, Clyde Wilson, Chronicles, October 1998, pg. 28)

Jefferson Davis referred to Lincoln’s proclamation of emancipation in early 1863 as affording “our whole people the complete and crowning proof of the true nature of the designs of the party which elevated to power the present occupant of the Presidential chair at Washington and which sought to conceal its purpose . . .” Davis, like others familiar with the United States Constitution, saw that only the individual States could emancipate, not the government created by the States. And waging war upon the States was an act of treason under that same Constitution.

Bernhard Thuersam, www.Circa1865.com

For What are They Waging War?

January 5, 1863

“Friends and Fellow Citizens . . .

I am happy to be welcomed on my return to the Capital of our Confederacy – the last hope, as I believe, for the perpetuation of that system of government which our forefathers founded – the asylum of the oppressed and the home of true representative liberty.

Anticipating the overthrow of that Government which you had inherited, you assumed the right, as you fathers had done before you, to declare yourselves independent, and nobly have you advocated the assertion which you have made. You have shown yourselves in no respect to be degenerate sons of your fathers.

Men who were bound to you by the compact which their fathers and themselves had entered into the secure to you the rights and principles not only guaranteed by the Declaration of Independence, but rights which Virginia wisely and plainly reserved in her recognition of the government in which she took a part, now come to you with their hands steeped in blood, robbing the widow, destroying houses, seizing the grey-haired father, and incarcerating him in prison because he will not be a traitor to the principles of his fathers and the land that gave him birth.

Every crime which could characterize the course of demons has marked the course of the invader. The Northern portion of Virginia has been ruthlessly desolated – the people not only deprived of the means of subsistence, but their household property destroyed, and every indignity which the base imagination of a merciless foe could suggest inflicted, without regard to age, sex or condition.

In like manner their step has been marked in every portion of the Confederacy they have invaded.

They have murdered prisoners of war; they have destroyed the means of subsistence of families, they have plundered the defenceless, and exerted their most malignant ingenuity to bring to the deepest destitution those who only offence is that their husbands and sons are fighting for their homes and their liberties. Every crime conceivable, from the burning of defenceless towns to the stealing of our silver forks, and spoons, has marked their career.

It is in keeping, however, with the character of the people that seeks dominion over you, claim to be your masters, to try to reduce you to subjection – give up to a brutal soldiery your towns to sack, your homes to pillage and incite servile insurrection.

They have come to disturb our social organizations on the plea that it is military necessity. For what are they waging war? They say to preserve the Union.

Can they preserve the Union by destroying the social existence of a portion of the South? Do they hope to reconstruct the Union by striking at everything which is dear to man? BY showing them so utterly disgraced that if the question was proposed to you whether you would combine with hyenas or Yankees, I trust every Virginian would say, give me the hyenas.”

(Jefferson Davis, the Essential Writings, William J. Cooper, Jr., editor, Modern Library, 2003, excerpts, pp. 285-287)

Lee was not alone in seeing the masked reasons for the war prosecuted by the North and the opportunity seen in reducing the American South to a politically-weak economic colony. The bounty-enriched foreign mercenaries and displaced slaves used to fight its war of conquest were expendable tools for the task, and later employed to eradicate Indians.

Bernhard Thuersam, www.Circa1865.com

The Dollar Invades and Conquers

“Certainly he must have sensed that in the future “those people,” as he called his Northern adversaries, were determined to push aside “his people” with their aristocratic prerogatives and privileges. Despite his determination to stay out of politics both during and after the war, Lee could see the handwriting on the wall as plain as anyone, and plainer than most.

He understood that in addition to the sharp odor of gunpowder, there was the sweet smell of profits in the balmy spring air. Lincoln’s Secretary of the Treasury, visiting New York earlier that spring, had noted that many people there paid more attention to the stock market than to the casualty reports. To this a New York editor added: “Real or professed patriotism may be made to cover a multitude of sins. Gallantry in battle may be regarded as a substitute for all the duties of the Decalogue.”

In the Northern States, the rapid transformation from a conglomeration of farmers to a nation of industrialists had been hastened by the war. The exclusion of Southern planters from the halls of government made the change considerably easier. Astronomical profits on wartime speculation and gouging encouraged rapid expansion. While the brave boys in [blue] shed blood on the battlefields, the crafty made profits back home.

If the drama of collapse and surrender centered in the South, the drama of growth and expansion focused on the West. Hundreds of millions of dollars would go there; the receding frontier would be whittled down by systematic attacks of the Yankee investor. The Federal government would help by showering the railroads and settlers with land and services. Mines, cattle and farming would boom. Where bayonet had never been, the dollar would invade and conquer.”

(Lee After the War, Marshall W. Fishwick, Dodd, Mead & Company, 1963, pp. 39-40)