And you are sounding like someone who does not understand basic economics.
Pray tell why Europe would be sending 200 million dollars worth of products into the United States if it is not in exchange for something of equal value? Why would they do that?
"In one single blow our foreign commerce must be reduced to less than one-half what it now is. Our coastwide trade would pass into other hands. One-half of our shipping would lie idle at our wharves. We should lose our trade with the South, with all of its immense profits. Our manufactories would be in utter ruins. Let the South adopt the free-trade system, or that of a tariff for revenue, and these results would likely follow" ~Chicago Daily Times, December 10, 1860
"The South has furnished near three-fourths of the entire exports of the country. Last year she furnished seventy-two percent of the whole...we have a tariff that protects our manufacturers from thirty to fifty percent, and enables us to consume large quantities of Southern cotton, and to compete in our whole home market with the skilled labor of Europe. This operates to compel the South to pay an indirect bounty to our skilled labor, of millions annually." ~Chicago Daily Times, December 10, 1860 "
"The government cannot well avoid collecting the federal revenues at all Southern ports, even after the passage of secession ordinances; and if this duty is discharged, any State which assumes a rebellious attitude will still be obliged to contribute revenue to support the Federal Government or have her commerce entirely destroyed" ~Philadelphia Press, December 21, 1860
But it wasn't $200 million, it was much closer to $400 million and the obvious reason is that US money was solid.
What Americans couldn't pay for in other exports they made up for in gold & silver.