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Re: Does the South Care?

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  • carlw4514
    Stephen, your musings have inspired me to post a few items from chapter 11 of Kevin Phillip s book THE COUSINS WARS, which I have just finished. Posted below.
    Message 1 of 18 , Aug 31, 2004
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      Stephen, your musings have inspired me to post a few items from
      chapter 11 of Kevin Phillip's book THE COUSINS WARS, which I have just
      finished. Posted below.
      --- In 28191, "aot1952" <aot1952@y...> wrote:

      > It was really not until the Post WWII period and really well into
      > the 1960's that many areas of the South began to participate in the
      > economic plenty that is the USA.

      from THE COUSIN'S WARS by Kevin Phillips, pgs. 477-479

      "... If the North no longer occupied the South after 1876, Dixie was
      kept tributary in an economic sense. ... High tariffs
      were enacted to favor northern industry. And ... the politics of
      railroad construction [placement of the transcontinental RR]
      put a similar twist on the US transportation system.

      ...Moreover, southern taxpayers had to help pay the interest a
      principal on the $2.5 billion federal debt taken on by the
      North to beat the South, although nearly all of the bond payments went
      to Northerners. Taxpayers below the Mason -Dixon line
      also had to help support the huge cost of pensions to federal veterans
      and their widows and dependents, though no such
      pensions were paid to Confederate veterans. Such disbursements,
      obviously, were spent in the North... According to economic
      historian Robert Russel, Southerners paid approximately $1.2 billion
      to the rest of the Union over a period of half a century - more than
      the indemnity Prussia levied on France after the Franco-Prussian War
      of 1870-1871.

      Besides, most of the South's *capital* was destroyed in the war - or
      freed by the Emancipation Proclamation and the
      Thirteenth Amendment... The abolition of slavery wiped out at least $2
      billion of capital and reduced the value of real
      estate by at least that amount... Livestock... [and] thousands of
      miles of railroad had been ruined. Professor Albert Moore
      of the University of Alabama also added the property rights lost by
      postwar repudiation of Confederate currency, the
      Confederate bonded debt, and the war debts of the ... Confederate
      states. His estimate of $3 billion [is now regarded as] too
      high [but] ... on the other hand, free-spending Reconstruction
      governments added several hundred million dollars to the debt
      level of southern states... Some of the outlay was legitimate, but
      part represented waste and graft. Public credit was badly damaged in
      the region that obviously needed it most.

      Because public expenditures rose so sharply, taxes across the South
      increased by 400 to 1600 percent, further reducing property
      values...In 1870, tax valuation... was about half of what it was in
      1860, despite inflation, while taxes were four times as much.

      [He cites in the next paragraph the losses from those who died from
      battle and disease, and points out the disproportional loss as a
      percentage of population]

      James McPherson, in BATTLE CRY OF FREEDOM, has assembled data that
      parallel Moore's... [including that] the South had contained 30
      percent of the national wealth in 1860; ten years later that had
      dropped to 12 percent...

      ... Eight decades after the end of Reconstruction, the National
      Emergency Council created to examine the Depression of the 1930s
      reported its findings to Franklin D. Roosevelt: The South, it said,
      had been reduced to the status of a colony. While this is an
      exaggeration, because other rural areas also suffered, it is not a
      great distortion..."
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