Follow the Money

The Confederacy WAS a Viable State.

By Hans Kuenzi
The Cleveland Civil War Roundtable
Copyright © 2008, All Rights Reserved

Editor’s note: The subject of the annual Dick Crews Debate at the January 2008 Roundtable meeting was: “The Southern Victory of 1865: Was the Confederacy a Viable State?” Five members made presentations on the topic; the article below was one of those five presentations.


For purposes of this debate, I have assumed that the Confederacy survived the Civil War as an intact sovereign nation. This may have occurred in a number of ways: through victory on the battlefield, as the result of some domestic calamity or due to the intervention of a foreign power. In any case, it is my position that with the conclusion of hostilities, the Confederate States of America would have not only survived but thrived as an independent republic.

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The Search for the Lost Confederate Gold

By Hans Kuenzi
The Cleveland Civil War Roundtable
Copyright © 2008, All Rights Reserved

In late May 1861, Jefferson Davis, the former Mississippi Senator and the reluctant president of the seceding Confederate States of America, moved the capital of the CSA from Montgomery, Alabama to Richmond, Virginia to boost the morale of the Confederate troops and weld Virginia to the Confederacy. Had he known that in April of 1865 he, his cabinet and about $700,000 in gold and specie would have to evacuate Richmond to avoid capture during the waning days of the Civil War, he might have elected to remain in Montgomery. (Note: ‘specie’ describes money in the form of coins, usually gold or silver, as opposed to paper money. Also called hard currency. Since the gold standard was abolished in the 1930s, gold coins, aside from their higher intrinsic value and demand as collectibles, no longer have any special worth as a standard of value in world trade. Dictionary of Banking Terms.)

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