In January 1865, both the U.S. and Confederate Congresses were in session and most armies were in winter quarters, thus attention turned more to civil than military matters. William T. Sherman’s Federals prepared to advance into the Carolinas and the Confederates could do little to stop him. To the west, John Bell Hood’s Confederate Army of Tennessee was a small, broken force. Rumors swirled about a peace settlement as the southern economy was on the verge of collapse.

The Confederate Economy

By this year, the Confederacy had been almost completely stripped of manpower, supplies and money. Livestock and harvests were depleted, and industry was exhausted or destroyed. Blockade-runners seldom survived the Federal naval blockade, and the runners who survived often carried more profitable luxury items rather than necessities.

The Confederate currency was nearly worthless, as one dollar in gold equaled almost $60 Confederate. Soldiers were paid $17 per month, but a chicken cost $15, a pound of butter cost $25, a pair of shoes cost $125, and a barrel of flour cost $275. In addition, many southern civilians suffered from the devastation of an invading army ravaging their homeland.

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