President of the Confederate States of America advice and consent of the senate. He was further empowered to grant reprieves and pardons, and convene and adjourn either or both houses of Congress under extraordinary circumstances. The president was indirectly elected by the people through the Electoral College to a six-year term, and was one of only two nationally elected Confederate officers, the other being the Vice President. On February 18, 1861, Jefferson Davis became president of the provisional government. On February 22, 1862, he became president of the permanent government and served in that capacity until being captured by elements of the United States Cavalry in 1865.
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