President of the Confederate States of America States Senate; and to remove such representatives and officers. He could fill vacancies during a recess of the Senate, but he could not reappoint, during a recess, persons previously rejected by it. He was to supply Congress with information, recommend legislation, receive ambassadors and other public ministers, see that the federal laws were faithfully executed, and commission all officers of the military and naval forces of the Confederate States. On February 9, 1861, the provisional congress at Montgomery unanimously elected Jefferson Davis president and Alexander H. Stephens vice president. Stephens, who was a delegate to Congress from Georgia, was inaugurated
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