- Stronger economy: The North had a more industrialized and diversified economy than the South. This meant that it had a larger tax base and could generate more revenue.
- Access to financial markets: The North had better access to financial markets than the South. This allowed it to borrow money from banks and other lenders.
- Foreign support: The North received financial and material support from foreign countries, such as Britain and France. This helped to bolster its economy and war effort.
As a result of these advantages, the North was able to raise significantly more money than the South during the Civil War. This gave it a major advantage in terms of funding its war efforts and ultimately winning the war.