0
The Confederate government was opposed to placing any embargoes of the export of cotton. This was in conflict with those states and individuals who believed that an embargo would help the South gain foreign recognition. Various states and governors such as Georgia's Joseph E. Brown supported the idea of a cotton embargo. Jefferson Davis was not in favor of any sort of embargo, cotton or other products and he prevented the Confederate Congress from passing any embargo laws.
Confederate Vice President Alexander Stephens had a proposal for the South's cotton that would greatly benefit the South. The cotton crop of 1861 amounted to 4.5 million bales which at the time was worth $225 million. in gold. This was enormous in that the figure was almost ten times the value of all the gold the South had. Stephens proposed that the Confederate government should use $100 million in Confederate bonds to purchase 200 million bales from the 1860 and 1861 crops. The plan would purchase 50 ironclads to take the cotton to Europe and storing it until the price of cotton hit 50 cents per pound. He believed that this would bring in a profit of $800 million. The plan was not perfect, and its flaws such as impossibility of building 50 ironclads under any circumstances was a pipe dream. Also, his prediction that the price of cotton would rise to 50 cents a pound was speculation at best.
Add your answer:
Earn +20 pts
What were the two main cash crops of the confederacy?
Cotton was one.
What were the principal food crops in ancient Egypt?
Cotton was one of them.
Why did people pick cotton?
Because cotton was one of the main crops grown in the south, so a lot of the slaves worked on cotton plantations.
In addition to rice and indigo what was one of the main cash crops of southeast?
Tobacco and cotton were main crops.
Cotton became one of the main crops in the Southern economic system and the South became known as the .?
it is cotton kingdom (a+answer)
Cotton became one of the main crops in the Southern economic system and the South became known as the?
it is cotton kingdom (a+answer)
What crops were grown in the us before cotton became the most important one?
Tobacco was grown before cotton became king. Eli Whitney's cotton gin was an important step into making cotton a marketable crop. Before growing cash crops, farmers grew food crops and plants to feed livestock.
What does Egypt grow that Canada does not?
One thing that Egypt grows that Canada does not is cotton. Cotton is one of the most important fiber crops in the world.
What were the main cash crops of South Carolina in the early 1600?
The main crops in the southern colonies were rice, indigo, and cotton. These were the principal crops.
What was the most important cash crops in the southern colonies?
Depending on the time period, one of the most successful crops in America was cotton.
Why was the invention of the cotton so critical to the development of the South's Cotton Kingdom?
Because cotton was one of the most critical of cash crops for the southern states. Michael W.
What crops are grown in Alabama?
Alabama is known a the "Cotton State" because it is one of the few states that the USA relies on for this product. So this means that Alabama's main product is cotton.----------------------------------------------------------------------------------------------------------NOTE: Texas, Georgia, and Mississippi are the other main 'cotton' states.
