How did the union finance the war?

Answer 1

The United States Civil War required a lot of funds for supplies as well as other basic requirements of all the people who were enlisting in the war. In order to fund the war, the United States Congress, for the first time in its almost-a-century old history, passed income tax laws. These laws required businesses to give a certain percentage of their earnings to the Federal Government, which would contribute towards providing the necessary funding for the American Civil War.

As for the Confederate States of America, the Confederate legislature promulgated taxes on various products, the accumulation of which would help in providing the money, which was required to fund the Confederate army. Both of the sides (the Union and the Confederates) also had formulated a plan of selling bonds on behalf of their respective governments to the American public as another way of raising money for the war.

Answer 2

The Union financed the war in several ways. For one, the federal government accepted monetary assistance from several wealthy Northern industrialists. They also employed citizens to work in munitions factories to help with the overall war effort. Despite the war, the North continued a steady flow of trade with foreign nations. This helped finance the war through recurring commercial business.

Answer 3

The Union raised money to fight the Civil War through loans and taxes, just the way governments do today.

Answer 4

Higher Tariffs

Answer 5

NO