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Fortunately for the North it was much too late for this experiment to show any signs of its success.

Between the North and the South, the North simply had the upper hand when it came to raising revenue for the war. "Of the Confederacy's income, to October 1864, almost 60 per cent was derived from the issue of paper money, about 30 per cent from the sale of bonds, and less than 5 per cent from taxation (the remaining 5 per cent arising from miscellaneous sources)...

Of the Union's income, by contrast, 13 per cent was raised by paper money, 62 per cent by bonds, and 21 per cent by taxes (and 4 per cent by other means)" (Current 27). Unlike the Union, which relied mostly on bonds and taxation for revenue, the Confederates relied mostly on its paper currency. The Confederate government literally flushed itself into the worst economic inflation America has seen since the American Revolution...

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