In the harbor of Charleston, South Carolina, Lieutenant George E. Dixon, commanding the CSS Hunley, sinks the USS Housatonic, commanded by Captain Charles W. Pickering.

       NOTE: This was a pyrrhic victory as the Hunley and her entire crew were also lost.

       [restored 3/1/2025]

       Nonpartisan (constitutionalist) President Davis signs the seventh Legal Tender Act, authorizing the printing of 200,000,000 “dollars” worth of bank notes (Bills of Credit).

       NOTE: Although Confederate currency was redeemable for gold and silver Coin (lawful Money) it was not until after the War of Federal Aggression ended, which would have required a Confederate victory.  In the meantime, the continued introduction of additional bank notes into circulation was one of three factors that contributed to ever accelerating inflation as the war went on.  The other two factors were the increased scarcity of goods in the Confederacy; and the ever shrinking sovereignty of the Confederacy that were not under Union control, where Confederate bank notes were legal tender.

       [added 2/23/2021]