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Civil War Exhibit
The Stories of PNC Predecessors
Measures of Necessity: Bankers Respond to the Civil War
No event in American history matches the drama of the Civil War: 617,000 died in the line of duty, 4 million African Americans secured their freedom, and the nation upheld its commitment to democracy. It is hardly surprising then, that its impact upon the financial system is often overlooked. Unable to pay for the war, Congress established a centralized currency that gave the Union a decisive advantage over the Confederacy and served as the underpinnings for the creation of the Federal Reserve a half-century later.
Amidst the chaos of war and the uncertainty of this nascent financial system, bankers tried to sustain commerce and preserve their communities. The PNC Legacy Project invites you to explore the heroic efforts of bankers who saved a central Maryland city, innovatively protected their customers’ investments, and chartered new institutions to help their cities rebuild.
Civil War Timeline

Election of 1860 | November 6, 1860
The successful candidacy of Republican Abraham Lincoln led seven southern states to secede before he took office.
Courtesy of the Library of Congress

The Capture of Fort Sumter | April 12-14, 1861
Tensions within the divided city erupted when rioters attacked the Massachusetts 6th on its way to Washington.
Courtesy of the Library of Congress

Riots in Baltimore | April 19, 1861
Tensions within the divided city erupted when rioters attacked the Massachusetts 6th on its way to Washington.
Courtesy of the Library of Congress

The First Battle of Bull Run | July 21, 1861
The Confederate Army forcefully defended Union troops advancing towards Richmond. The 460 Union dead shocked Northerners and signalled the beginning of a long and bloody war.
Courtesy of the Library of Congress

Legal Tender Act | February 25, 1862
Congress authorized the circulation of $150 million in U.S. Treasury notes, known as greenbacks. Considered a radical measure, it was the first step toward creating a national currency.

Allegheny Arsenal Explosion | September 17, 1862
Gunpowder explosion at a munitions supply depot and manufactory outside Pittsburgh, similar to the one pictured here, killed 78 people in the largest civilian disaster during the war.
Engraving by Winslow Homer for Harper's Weekly, courtesy of the Library of Congress

Battle of Antietam | September 17, 1862
The Union army halted the Maryland campaign led by General Robert E. Lee during the single bloodiest day in U.S. history, with more than 22,000 dead, wounded, or missing.
Photograph by Alexander Gardner, courtesy of the Library of Congress

Battle of Fredericksburg | December 11-15, 1862
The three-day battle on the Rappahannock River effectively quashed the Union Army's drive towards Richmond.
Photograph by Chappell Alonzo, courtesy of the Library of Congress

Bread Riots in Richmond | May 23, 1863
The scarcity of provisions and hyperinflated currency led hundreds of women, wielding clubs and guns, to plunder warehouses and stores.
Wood engraving from Frank Leslie's Illustrated Newspaper, courtesy of the Library of Congress

The Battle of Gettysburg | July 1-3, 1863
The Union successfully defended Pennsylvania during the only major battle north of the Mason-Dixon line. The death count included more than 3,100 Union and 4,700 Confederate soldiers.
Photograph by Alexander Gardner, courtesy of the Library of Congress

National Banking Act | July 11, 1863
Congress created a national bank system that authorized individual banks to issue notes. This note issued by the First National Bank of Washington indicates that the bank invested in U.S. bonds to secure this privilege.

New York City Draft Riots | July 13-16, 1863
Workingmen, resentful that wealthy men could hire substitutes for $300 each to avoid the draft, staged a riot that ultimately targeted the black population and left 120 dead.
Wood engraving in Harper's Pictorial of the Civil War, courtesy of the Library of Congress

Emancipation Proclamation | January 1, 1863
Throughout the nation, African Americans and abolitionist allies celebrated the emancipation of all slaves held within the Confederacy.
Courtesy of the Library of Congress

Shenandoah Valley Campaign | June 28-July 12, 1864
During a military campaign aimed at weakening the defenses of Washington, Confederate forces plundered Maryland farms and businesses and demanded ransom from the citizens of Hagerstown and Frederick.
Wood engraving from Illustrated London News, courtesy of the Library of Virginia

Battle of Mobile Bay | August 5, 1864
A Union fleet of eighteen vessels rendered the seemingly invincible ironclad ships guarding the Mobile Bay into motionless hulks and secured this highly strategic site.
Currier & Ives color lithograph, courtesy of the Library of Congress

Sherman's March to the Sea | November 15-December 21, 1864
After vanquishing Confederate forces in Atlanta, General William T. Sherman led his troops to Savannah who ransacked farms, industrial sites and transportation networks along the way.
Wood engraving for Harper's Weekly, courtesy of the Library of Congress

Lincoln visits Richmond | April 4, 1865
Triumphant loyalists, mostly African Americans, greeted Lincoln as he walked through Richmond, two days after Confederate forces evacuated their capital.
Wood engraving for Frank Leslie's Illustrated Newspaper, courtesy of the Library of Congress

Lincoln Assassination | April 14, 1865
Acting as part of a larger conspiracy to revive the Confederate cause, John Wilkes Booth shot President Abraham Lincoln during a performance of Our American Cousin at Ford's Theatre.
Currier and Ives lithograph, courtesy of the Library of Congress
- Election of 1860 | November 6, 1860
- Capture of Fort Sumter
- Riots in Baltimore
- First Battle for Bull Run
- Legal Tender Act
- Allegheny Arsenal Explosion
- Battle of Antietam
- Battle of Fredericksburg
- Bread Riots in Richmond
- The Battle of Gettysburg
- National Banking Act
- New York City Draft Riots
- Emancipationg Proclamation
- Shenandoah Valley Campaign
- Battle of Mobile Bay
- Sherman's March to the Sea
- Linoln Visits Richmon
- Lincoln Assasination