The American Civil War lasted from the spring of 1861 to the spring of 1865. During the war the Confederate government issued substantial amounts of fiat paper currency. Which of the following statements is correct? By issuing fiat money the Confederate government could raise revenue known as seigniorage. All of statements are correct. After the defeat of the South people's willingness to accept confederate currency fell drastically. Price level measured by confederate currency rose substantially by the end of the Civil War.