Financial Frenzy

“Deep Throat” was hiding in a dark parking garage when he directed Washington Post reporter Bob Woodward to “Follow the money” to unravel the Watergate scandal, but David Thomson is not being so subtle. In his new book, Bonds of War: How Civil he’s imploring Civil War enthusiasts and historians to explore the financial aspects of the conflict to better understand it. For readers familiar with a Civil War vocabulary that includes generals, regiments, battles, and campaigns, Thomson suggests they add Jay Cooke, demand notes, 10-40 and 7-30 bond issues, specie payments, balance sheets, and greenbacks to their historiographic lexicon. Those who do will be treated to a fascinating foray into the world of Civil War finance and the beginnings of modern America’s financial markets.