Chapter 3 Flashcards
(17 cards)
Who was elected as the 16th President of the United States, and when?
Abraham Lincoln, inaugurated on March 4, 1861.
What event marked the official start of the Civil War?
Confederate forces fired upon Fort Sumter, South Carolina, on April 12, 1861.
Which states initially formed the Confederate States of America?
South Carolina, Mississippi, Florida, Alabama, Georgia, Louisiana, and Texas.
What were the last states to join the Confederacy?
Virginia, Arkansas, Tennessee, and North Carolina, along with the Arizona territory.
What was the purpose of the Emancipation Proclamation issued on January 1, 1863?
It declared over 3.5 million slaves in Confederate areas ‘forever free’ and allowed African-American men to enlist in the Union army and navy.
When did the Civil War officially end, and what major events occurred around this time?
The war ended officially between May 26 and June 2, 1865. General Lee surrendered on April 9, 1865, and Lincoln was assassinated on April 14, 1865.
How many lives were lost during the Civil War?
More than 600,000 lives were lost.
What were the direct costs of the Civil War?
War expenditures and destruction of human and physical capital, estimated at $6.7 billion in 1860 dollars.
What are indirect costs associated with the Civil War?
Costs and benefits for wartime citizens and future generations, with potential lost economic growth estimated at $14.7 billion.
How did the war’s direct costs compare to the US GNP of 1859?
The direct costs exceeded the US GNP of 1859.
How did the Civil War contribute to industrialization in the United States?
It increased demand for weapons, ammunition, and supplies, leading to mechanization and productivity improvements.
What were some industries that boomed during the Civil War?
Agriculture (due to mechanization), transportation, weapons, leather goods, textiles, and iron production.
What was the significance of the Pacific Railways Act of 1862?
It facilitated the construction of a transcontinental railroad between Omaha and Sacramento.
What was ‘greenbacks,’ and why were they introduced?
Greenbacks were emergency paper currency issued during the war, serving as legal tender but not backed by gold.
What was the economic state of the South in 1860?
The South was predominantly agricultural, producing two-thirds of the world’s cotton but had only 29% of the railroad tracks and 13% of the nation’s banks.
How did the North’s economy differ from the South’s?
The North was more industrialized, producing 90% of the nation’s manufacturing output.
How did wartime inflation affect wealth distribution?
It transferred power from fixed-income earners to manufacturers, capitalists, and entrepreneurs who could adjust prices to benefit.
