Confederate States of America Confederacy, immediately following Fort Sumter the Confederate Congress proclaimed that "war exists between the Confederate States and the Government of the United States, and the States and Territories thereof". A state of war was not to formally exist between the Confederacy and those states and territories in the United States allowing slavery, although Confederate Rangers were compensated for destruction they could effect there throughout the war. Concerning the international status and nationhood of the Confederate States of America, in 1869 the United States Supreme Court in ruled Texas' declaration of secession was legally null and void. Jefferson Davis, former President
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