Confederate States of America Confederate Constitution overtly asked God's blessing ("... invoking the favor and guidance of Almighty God ..."). The Montgomery Convention to establish the Confederacy and its executive met on February 4, 1861. Each state as a sovereignty had one vote, with the same delegation size as it held in the U.S. Congress, and generally 41 to 50 members attended. Offices were "provisional", limited to a term not to exceed one year. One name was placed in nomination for president, one for vice president. Both were elected unanimously, 6–0. Jefferson Davis was elected provisional president. His U.S. Senate resignation speech greatly impressed
Confederate States of America The Confederate government initially wanted to finance its war mostly through tariffs on imports, export taxes, and voluntary donations of gold. After the spontaneous imposition of an embargo on cotton sales to Europe in 1861, these sources of revenue dried up and the Confederacy increasingly turned to issuing debt and printing money to pay for war expenses. The Confederate States politicians were worried about angering the general population with hard taxes. A tax increase might disillusion many Southerners, so the Confederacy resorted to printing more money. As a result, inflation increased and remained a problem for the southern states throughout