Learn from the Southern Experience: DON'T Buy Govt Bonds - HOLD Gold and Silver Coins
Learn from the Southern Experience: DON’T Buy Govt Bonds – HOLD Gold and Silver Coins
Washington’s tyranny is yours now, too. You are with us now. We are not brighter than you, but do have the life experience in our heritage of impoverishment by perishable paper money. Our ancestors foolishly believed the pro-war propaganda as you did from your northern demagogues, media, and churches. Learn from Southern history which is your American history also.
[excerpt]
The main international bankers in Europe were reluctant to finance the Confederacy, so it turned to smaller houses and speculators who bought $15,000,000 in Confederate bonds with gold.[34] The gold was used to buy warships and supplies to be brought in by blockade runners. By highlighting Britain’s economic links to the Northern states and pointing to the potential dangers of meddling in the conflict, financiers in the City of London provided Parliament with a powerful economic justification for the policy of neutrality.[35]
Money
Main article: Confederate States of America currency
Bad money drives out good, and supplies of gold and silver were hoarded, driven out of circulation by the rising flood of paper money. The first notes were issued in March 1861, and bore interest. They were soon followed by others, bearing no interest and payable in two years, others payable six months after peace. New issues were continually provided, so that from an initial $1,000,000 in circulation in July 1861, the amount rose to $30 million before December 1861; to $100 million by March 1862; to $200 million by August 1862; to perhaps $450 million by December 1862; to $700 million by the autumn of 1863; and to a much larger figure before the end of the war.[36]
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