 The problems of money-caused inflation were exacerbated by the influx of counterfeit bills from the North. These were plentiful because Southern "Greybacks" were fairly crude and easy to copy as the Confederacy lacked modern printing equipment. One of the largest and most famous of the Northern counterfeiters was Samuel C. Upham from Philadelphia. By one calculation Upham's notes made up between 1 and 2.5 percent of all of the Confederate money supply between June 1862 and August 1863. Jefferson Davis placed a $ 10,000 bounty on Upham, though the "Yankee Scoundrel", as he was known in the South, evaded capture by Southern agents. Counterfeiting was a problem for the North as well, and the United States Secret Service was formed to deal with this problem.
