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Chapter 11, Section 5 of "The Legacy of the War" examines the significant political and economic changes following the Civil War. The federal government emerged stronger, with taxes, a draft, and currency mandates. The government's role in building a national railroad system and the National Bank Act of 1863 enhanced banking safety, leading to a booming Northern economy, while the South faced devastation. The human cost was staggering, with over 620,000 soldiers lost. Additionally, the 13th Amendment liberated African Americans, marking a profound societal shift, heavily impacted by the assassination of Lincoln in 1865.
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Political Changes • Ended threat of secession • Increased power of Federal govt • Federal income tax • Draft • Required everyone to accept federal currency
Economic Changes • Govt helped build a national railroad system • National Bank Act of 1863: made banking safer • Economy in North boomed • Economy in South was devastated
Effects of the War • Human costs • Union: 360,000 soldiers killed • Confederacy: 260,000 killed • Economic costs • $3.3 billion • Debt & veterans pensions • African Americans became free: 13th Amendment
Loss of Lincoln • Assassinated April 14, 1865 • Shot by John Wilkes Booth at Ford’s Theatre
