1 Jan 1859 Jahr - "King Cotton diplomacy" = failure

Beschreibung:

Introduced by Jefferson Davis | PLAN: the administration tried to suppress cotton production, urging planters to grow food instead and banning cotton exports to promote economic self-sufficiency and force Great Britain, whose textile mills could not operate without southern cotton, to intervene on the side of the Confederacy | REALITY: lack of cotton led int powers to get there cotton elsewhere, and when south re-entered market post war, there was a surplus --> decrease in price --> increase in poverty for farmers worldwide.

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