Good point, very good point. Weimar Republic is probably one of the most instructive periods to study even from a financial point of view.
I didn’t even consider this to be honest.
While the consequences (currencies with improbable numbers of zeros that had lost all value in any economic or financial or fiscal sense) were the same for both Weimar Germany and the Confederacy, the situation that brought it about differed somewhat.
While (democratic) Weimar Germany printed excess money (to pay for the reparations that had been imposed by the Treaty of Versailles which dealt with matters related to Germany, the Treaties of St- Germain and Trianon dealt with matters pertaining to Austria and Hungary, respectively) - and the industrial heartland of Germany, the Ruhr Valley, had been occupied by the French, the underlying economic structure of the country retained considerable potential strength.
It is not a coincidence that the "Beer Hall Putsch" occurred in November 1923, (following the currency collapse, and destruction of the economy), and nor is it a coincidence that Adolf Hitler finally came to power (in January 1933) in the wake of the economic devastation brought about by the effects of the Great Depression on Germany.
In fact, I would go so far as to argue that Hitler would not have come to power - and could not have come to power - without the sort of political havoc and economic chaos wrought by the Great Depression.
This was not the case with the Confederacy, where their currency - which had started the Civil War at parity with the US dollar - started losing value more or less immediately, as the economy - especially after the "Anaconda Plan" (the Northern naval blockade of the South) was put into effect - produced little - it imported everything from the North - and exported hardly anything.
For, the Confederacy was a feudal economy, and, once they were deprived of, and denied access to, (on account of the Northern blockade) the export market for the sole product they produced (which, was, of course, produced under conditions of slavery) for which there was an international market, namely, cotton, their economy was in freefall, a condition reflected in the collapse in the value of their currency.
Most histories of the Civil War (well, the better ones) devote at least a chapter to the economic history of the war, which is fascinating.
However, for those who like to find history in fiction, the book (that is, the book, not film/movie) of Gone With The Wind actually covers this territory; the collapse in the value of the currency turns up (in discussions) in several chapters, and Rhett Butler's sharp remarks (during the scene when he is first introduced as a character, at a party just before the war starts) questioning the capacity of a feudal state to handle armed conflict with an industrialized power make that very point, a conversation which is referred to, and returned to, several times during the book.
These remarks reflect observations made by William T Sherman in 1860 when he was Superintendent of Louisiana State University, which I will quote because I think it worth reading:
“You people of the South don't know what you are doing. This country will be drenched in blood, and God only knows how it will end. It is all folly, madness, a crime against civilization! You people speak so lightly of war; you don't know what you're talking about.
War is a terrible thing! You mistake, too, the people of the North. They are a peaceable people but an earnest people, and they will fight, too. They are not going to let this country be destroyed without a mighty effort to save it … Besides, where are your men and appliances of war to contend against them? The North can make a steam engine, locomotive, or railway car; hardly a yard of cloth or pair of shoes can you make. You are rushing into war with one of the most powerful, ingeniously mechanical, and determined people on Earth — right at your doors.
You are bound to fail. Only in your spirit and determination are you prepared for war. In all else you are totally unprepared, with a bad cause to start with. At first you will make headway, but as your limited resources begin to fail, shut out from the markets of Europe as you will be, your cause will begin to wane. If your people will but stop and think, they must see in the end that you will surely fail.”