Revenue began to dry up, the Confederate government was forced to print blue-backed paper money with complete abandon. "Runaway inflation" occurred as Southern presses continued to grind out the poorly backed treasury notes, totaling in all more than $1 billion. The Confederate paper dollar finally sank to the point where it was worth only 1.6 cents when Lee surrendered. Overall, the war inflicted a 9,000 percent inflation rate on the Confederacy, contrasted with 80% for the Union.
American Pagent 13 pg449
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