Great contracts were let out to shrewd and skillful moneyed men; these again subdivided became the means of employing thousands of idle hands—while each sub-contractor became a missionary to the mob to preach the gospel of the greenback!
But above all was the shrewdness and finesse with which the bonds were manipulated. The suction once applied, the great engine, Wall street, was pumped dry; and self-preservation made every bondholder a de facto emissary of the Treasury Department.
Banker and baker, soldier and seamstress, were equally interested in the currency. It became greenback or nothing, and the United States used the theory of self-preservation on which to build a substantial edifice of public credit.
These were the hard, real reasons that dissipated at last the dream of the South; that kept the greenback promise of the manufacturing North at little below gold, while the grayback of the producing South went down—down—from two—to ten—twenty—at last, to one thousand dollars for one.
CHAPTER XXVII.
DOLLARS, CENTS, AND LESS.
And now, looking back to the struggling and suffering South, one asks with wonder how these results could have transpired.
Unlike the North, the South went into the struggle with her whole soul and her whole strength. Every man came forward with one accord, willing to work in the way he best might for the cause he held sacred; ready to give his arm, his life, and all he had beside, for the general good. Whole regiments were put into service, armed, uniformed and equipped, without costing the central government one dollar; and in some instances—as of that spotless knight, true gentleman and pure patriot, Wade Hampton—raised by the energy, paid for by the generosity, and led to death itself by the valor of one man!
Corporations came into this general feeling. Railroads put their rolling-stock and their power in the hands of the Government; agreeing, as early as the origin of the Montgomery government, to take their pay at half rates and in government bonds. Banks put their facilities and their circulation, manufacturers their machinery and foundries their material, at public disposition, for the bare cost of existence. Farmers and graziers cheerfully yielded all demanded of them! And how the women wrought—how soft hands that had never worked before plied the ceaseless needle through the tough fabric—how taper fingers packed the boxes for camp, full from self-denial at home—shall shine down all history as the brightest page in story of noble selflessness.