Over at "A House Divided:" Bill Blair on war debt, the gold standard, and Union monetary policy

Bill Blair, the director of the George and Ann Richards Civil War Era Center here at Penn State, contributed the most recent post to the Washington Post's "A House Divided" blog, which marks the sesquicentennial of the Civil War. In answer to the question, "what is the most important but overlooked story of the war," Blair responds that the Union's abandonment of the gold standard irrevocably revolutionized federal monetary policy. Follow the link above to read about the impact of this decision on the Union war effort and the country as a whole.