Page 6 - Beyond the Capacity of Any Man

TABLE OF CONTENTS

Chapter Page

INTRODUCTION........................................................................................ 1

I. THE ANTEBELLUM ECONOMY............................................................. 5

King Cotton ................................................................................................ 5
Taxation ..................................................................................................... 8
Capital Market Reputation........................................................................ 12
Banking .................................................................................................... 13
Christopher Gustavus Memminger........................................................... 15
Conclusion ............................................................................................... 17

II. TAXATION ........................................................................................... 19

Tariff and Blockade .................................................................................. 20
Direct Taxation and Cotton....................................................................... 21
Memminger Survey’s the South ............................................................... 24
Opinion..................................................................................................... 26
Tax Collection in the States...................................................................... 26
Assessment of the War Tax of 1861 ........................................................ 28
A Necessity Deferred ............................................................................... 30
Support for Memminger’s Plan................................................................. 33
A House and Senate Divided ................................................................... 34
Congress Approves the Bill ...................................................................... 36
Collection ................................................................................................. 37
Opposition ................................................................................................ 39
Congress Relaxes the Tax-In-Kind .......................................................... 42
New Recommendations ........................................................................... 43
“So Intelligent A Class”............................................................................. 45
Memminger’s Last Report ........................................................................ 46
Conclusion ............................................................................................... 48

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