Quiz for April 24, 2012

Based on “Civil War Money and Finances” by Arthur Henrick

Q#1 – What military role did the presenter Arthur Henrick take on as a Civil War re-enactor?

Q#2 – Before the Civil War, how many banking institutions printed their own unique paper money?

Q#3 – At the start of the Civil War, how much money was in circulation that was in gold and silver coins?

Q#4 – During the Civil War, could taxes be paid in paper money or gold?

Q#5 – When people needed to make change, what was a common practice regarding the use of paper money?

Q#6 – What were uncancelled postage stamps that were used for money called?

Q#7 – What was the size of the Federal Budget in 1861?

Q#8 – In an effort to further his political career, what act did Secretary of the Treasury Salmon P. Chas order?

Q#9 – By what army unit organization did Union Army Paymasters pay soldiers?

Q#10 – Why did Union Paymasters prefer to pay experienced regiments rather than new regiments?

Q#11 – In July 1861, President Lincoln proposed a war budget. What was the amount of that budget?

Q#12 – In what year was the nation’s first federal income tax law passed?

Q#13 – Two part question: By the end of the war, what was the total financial cost: 1-Union; 2-Confederacy?

Q#14 – By the end of 1865, what was the Union’s total war debt?

Q#15 – How many years did it take the United States to pay off the financial costs of the Civil War?