One short-term effect was to shock the Allied home-populations with the surprise of a German offensive and the realization that the war was not going to be over as quickly as they had thought.
True.
When a government's spending is greater than it's revenues (income) then you accumulate a debt. This is also known as a budget deficit, as deficit means the amount by which a sum of money is too small.
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The differences between the North and South were incredible socially, financially, and politically. Nevertheless, it is not easy to see the establishment of servitude being finished in the South without the danger of brutality or genuine viciousness. The organization of slavery was accepted to be necessary toward the Southern economy that it is difficult to envision it, leaving through bargain by than ever.
The extraordinary gap between their industrialization levels was likewise a critical issue. The social equality development gave white students of history a recently discovered compassion toward abolitionists and their abolitionist partners.
