One of the critical early failures of the southern confederacy was their inability to raise money or credit to purchase the implements of war. They held their cotton crop off the market in the false belief that they could coerce Europe into recognizing them, and a good portion of it got confiscated by the Union.
If the south had liquid capital, why didn't they use it to buy weapons and other war-making material?
Southern ports were blockaded by the U. S. Navy. One of my ancestors was a blockade runner, although I have been unable to find out how successful he was.