The Market for Confederate Cotton Bonds
AbstractThis paper investigates the more than doubling of Confederate cotton bond prices between December 1863 and September 1864, even after critical defeats of Southern armies at Gettysburg and Vicksurg in the summer of 1863. Offsetting adverse war news during this period were movements in the price of New Orleans middling class cotton, the underlying collateral of the war bonds.
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Bibliographic InfoPaper provided by Claremont Colleges in its series Claremont Colleges Working Papers with number 1999-12.
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