Thought that the American North and Great Britain depended on cotton.
Thought that the American North and Great Britain depended on cotton. In 1858 the South produced 66 percent of all U.S. exports. In 1859 the Northern exports were $45 million compared to $193 million from the South, of which cotton accounted for $161 million.
Cotton revenues allowed American to develop her nascent industries and provide a basis for monetary affairs. In 1860 the Northern cotton textile industry led America’s other manufacturing sectors. Northern cotton mills manufactured goods valued at $115 million, “against $73 million for wool, and an almost equal amount for forged, rolled, wrought, and cast iron taken together.” Southern slave-grown cotton was responsible for the cheap raw material that fueled the Northern mills. Cotton yielded the revenue to enable the South to buy goods from Northern merchants.