The economic losses affected everyone. Banks and insurance companies were mostly bankrupt. Confederate currency and bonds were worthless. The billions of dollars invested in slaves vanished. Most debts were also left behind. Most farms were intact, but most had lost their horses, mules and cattle; fences and barns were in disrepair. Paskoff shows the loss of farm infrastructure was about the same whether or not fighting took place nearby. The loss of infrastructure and productive capacity meant that rural widows throughout the region faced not only the absence of able-bodied men, but a depleted stock of material resources that they could manage and operate themselves. During four years of warfare, disruption, and blockades, the South used up about half its capital stock. The North, by contrast, absorbed its material losses so effortlessly that it appeared richer at the end of the war than at the beginning.
The economic losses affected everyone. Banks and insurance companies were mostly bankrupt. Confederate currency and bonds were worthless. The billions of dollars invested in slaves vanished. Most debts were also left behind. Most f.arms were intact, but most had lost their horses, mules and cattle; fences and barns were in disrepair Paskoff shows the loss of farm infrastructure was about the same whether or not fighting took place nearby. The loss of infrastructure and productive capacity meant that rural widows throughout the region faced not only the absence of able-bodied men, but a depleted stock of material resources that they could manage and operate themselves. During four years of warfare, disruption, and blockades, the South used up about half its capital stock. The North, by contrast, absorbed its material losses so effortlessly that it appeared richer at the end of the war than at the beginning.