Did the North give the South its debt after Civil War ended?

Question

In discussions with a colleague of mine many years ago, concerning the American Civil War (aka the War Between the States), he mentioned that “... the North left/gave all the [financial] debt to the South”. He has since passed on but I’ve often wondered what he meant by that statement. Has anyone a clue to this reference? To its meaning and validity?

Answer 1

I understand that the South's printed money lost all its value immediately after the surrender of Robert E. Lee. The South couldn't get money in return for their tobacco, sugar cane, etc. products. The North never paid reparations to keep the South afloat after its economy failed. The carpetbaggers from the North and West helped reduce the economy further using furtive or underhanded tactics. The South couldn't trade with Europe easily directly after the Civil War (nor immediately before or during it). It seems like the North saw only the bad Southern behaviors for a long time and didn't own up to their own experiences with slaves around the shipping industry and manufacturing companies residing in the upper colonies. The saddest thing about the situation of hatred between the North and the South wasn't the economy. It was the loss of life and the conscription of soldiers from both sides of the conflict. Many brothers eventually fought and killed relatives and direct family members as a consequence of the drawn-out conflict. (my complicated and informed opinion after reading different non-fiction books in college) I never noticed anything that mentioned the North not been financially strong in reality while the South's recovery was long and debilitating.