Economy of the Confederate States of America of London provided the U.K. Parliament with a powerful economic justification for the policy of neutrality. At the beginning of the war the Confederacy had some $47 million in bank deposits (compared to $189 million in Northern banks), and $27 million in specie (gold and silver coins) holdings (compared to $45 million worth in the northern states). Bad money drives out good, and supplies of gold and silver were hoarded, driven out of circulation by the rising flood of paper money. The first Confederate notes were issued in March 1861, and bore interest. They were soon followed by others, bearing
Economic law V.V. Laptev. After debate, this position was codified by the decrees of the CPSU and the USSR Council of Ministers during 1970–1975 and finalized in the 1977 Soviet Constitution. Economic law In the legal system of the Soviet Union, economic law was the legal theory and system under which economic relations were a legal discipline independent of criminal law and civil law. In the Law of the United States and some other legal systems this approximately corresponds to the commercial law (business law). In the Soviet legal system, the purpose of the economic law is to regulate the relations arising