Confederate States of America See on September 24, 1863. But the Holy See never released a formal statement supporting or recognizing the Confederacy. In November 1863, Mann met Pope Pius IX in person and received a letter supposedly addressed "to the Illustrious and Honorable Jefferson Davis, President of the Confederate States of America"; Mann had mistranslated the address. In his report to Richmond, Mann claimed a great diplomatic achievement for himself, asserting the letter was "a positive recognition of our Government". The letter was indeed used in propaganda, but Confederate Secretary of State Judah P. Benjamin told Mann it was "a mere inferential recognition,
Economy of the Confederate States of America issuing a million dollars in notes in February 1861, and added to this amount during each subsequent session of the legislature. The other states followed suit. Cities also sought to replenish their treasuries in the same way. Corporations and other business concerns tried to meet the rising tide of prices with the issue of their individual promissory notes intended to circulate from hand to hand. As a result of this redundancy of the currency, its value collapsed. Gold was quoted at a premium in Confederate notes in April 1861. By the end of that year, a paper dollar was quoted