Union Navy
The Secession Crisis and the Bond Market: A Critical Turning Point
The American Civil War saw a unique financial dynamic play out as the Southern states attempted to fund their secession efforts through the bond market, with the South's ability to manipulate this market depending on investors being able to physically possess cotton collateral backing these bonds.
Turning Points in the Civil War: The Fall of Vicksburg and the Capture of New Orleans
The capture of New Orleans on April 29, 1862, marked a significant shift in power dynamics and ultimately led to the defeat of the Confederacy, showcasing the impact of economic warfare.