6min chapter

The "What is Money?" Show cover image

WiM030 - The Frisby Series | Episode 8 | The American Civil War

The "What is Money?" Show

CHAPTER

The Civil War in the South Carolina

In the early 18 fifties, when te economy was booming, the south had few complaints. But that all changed after the financial crisis of 18 57 em andiit was known as the panic of 18 57. The southern states suddenly found themselves paying a hugely dis portionate an amount of of federal taxes at the tax level. At one point, i think it was actually over 75 % of federal taxes were coming from the southern states at one point. And eventually, by the 18 thirties, the southern states said, and this sort of loyalty to the united states that exists now wasn't there then.

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