In order to understand Union bonds during the Civil War, you have to start with Jay Cooke. Jay Cooke was a prominent Philadelphia financier who procured the agency for bond sales on two different occasions during the course of the war. His financial house and its partners throughout the North bought and sold over a $1 billion in bonds by wars end. Cooke worked tirelessly on the drives coordinating with various banks in Boston, Providence, New York, Cleveland, Baltimore, and Cincinnati, in addition to his own offices in Philadelphia and Washington. In addition, Cooke utilized over 3,000 agents during the war to act as traveling salesman spreading across all the states of the Union, most western territories, and even into the heart of the Confederacy.