Beneath a disorganized society lay a devastated land. The destruction of property affected all classes of the population. The accumulated capital of the South had disappeared in worthless Confederate stocks, bonds, and currency. The banks had failed early in the war. Two billion dollars invested in slaves had been wiped out. Factories, which had been running before the war or were developed after 1861 in order to supply the blockaded country, had been destroyed by Federal raiders or seized and sold or dismantled because they had furnished supplies to the Confederacy. Mining industries were paralyzed. Public buildings which had been used for war purposes were destroyed or confiscated for the uses of the army or for the new freedmen's schools. It was months before courthouses, state capitols, school and college buildings were again made available for normal uses. The military school buildings had been destroyed by the Federal forces. Among the schools which suffered were the Virginia Military Institute, the University of Alabama, the Louisiana State Seminary, and many smaller institutions. Nearly all these had been used in some way for war purposes and were therefore subject to destruction or confiscation.