Question

During the Civil War, the United States and the Confederate States suspended the use of what as payment?

Answer 1

During the Civil War, the United States and the Confederate States suspended the use of gold and silver as payment. Instead, they issued paper currency known as "greenbacks," which were not backed by precious metals. This led to inflation and economic instability during and after the war.

Answer 2

During the Civil War, both the United States and the Confederate States suspended the use of specie (gold and silver coins) as payment. This led to the issuance of paper money by both sides, which was not backed by gold or silver reserves and eventually led to inflation.

Answer 3

Gold and silver as payment. Instead, they issued paper currency known as "greenbacks," which were not backed by precious metals. This led to inflation and economic instability during and after the war.