1. Thomas P. Kettell, Southern Wealth and Northern Profits, University of Alabama Press, 1860. This is a short book on the economic conditions of the country in 1860. It shows how fragile the Northeastern states’ economy was, and how dependent these regions were on Southern productions. It also clearly shows how the tariff system had led the federal government into a very vulnerable dependency on the overseas sales of Southern productions. It is the unbiased description of pending economic collapse by a respected economist of the time.Right. That's why as soon as the Cotton South left the North just collapsed.
Now who was the guy who looked at the same data as Kettell and concluded that the economy of the Deep South was perilously dependent on New York?
You said: "Right. That's why as soon as the Cotton South left the North just collapsed."
That was happening. In March of 1861, with only about six weeks of money left in the Treasury to run the government, Lincoln had to send warships to blockade the Southern exports, seize the Southern productions, and convince the European bankers to lend more money.