The price of cotton sky-rocketed during the Civil War because of Union naval blockades of Confederate ports.

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The price of cotton sky-rocketed during the Civil War because of Union naval blockades of Confederate ports. This was a primary reason the South experienced 4,000% inflation from 1861 to 1865 (four years). Specifically, what cost 1 cent in 1861 cost $40 in 1865. What was the equivalent annual inflation rate that the South was forced to endure?
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Engineering Economy

ISBN: 978-0132554909

15th edition

Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

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