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Birth of the U.S. Dollar | Roger Lowenstein
Forward Guidance
The Southern Currency and the Depreciation of the Southern Dollar
The Southern currency depreciated so much more. Part of that reason you attributed to is the South inability to tax as well as relying on short term notes and unable to secure that long term financing. Can you tell us a little bit about how the north was able to secure that financing as well? You mentioned Jay Cook, who might be my favorite character in the book. He thought it had been God's the instrument of God's will to come down and save the north.
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