Business, Legal & Accounting Glossary
The primary currency, first issued in 1861 used by the eleven states that joined the confederacy during the Civil War. The value of the Confederate dollar, which was actually a credit bill that could only be redeemed at a later date, suffered a steep decline as a result of a loss in confidence on the part of its holders and the fact that it wasn’t backed by any hard assets.
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This glossary post was last updated: 15th November, 2021 | 0 Views.