<P> The Confederate States of America had an agrarian - based economy that relied heavily on slave - worked plantations for the production of cotton for export to Europe and the northern US states . If ranked as an independent nation , it would have been the fourth richest country of the world in 1860 . When the Union blockaded its ports in summer 1861 , exports of cotton fell 95 percent and the South had to restructure itself to emphasize food and munitions production . After losing control of its main rivers and ports , it had to depend on a weak railroad system that , with few repairs being made , no new equipment , and federal raids , crumbled away . The financial infrastructure collapsed during the war as inflation destroyed banks and forced a move toward a barter economy for civilians . The government seized needed supplies and livestock ( paying with certificates that were to be paid off after the war , but never were ) . By 1865 the economy was in ruins . </P>
<P> The Confederate States of America had an agrarian - based economy that relied heavily on slave - worked plantations for the production of cotton for export to Europe and the northern US states . If ranked as an independent nation , it would have been the fourth richest country of the world in 1860 . When the Union blockaded its ports in summer 1861 , exports of cotton fell 95 percent and the South had to restructure itself to emphasize food and munitions production . After losing control of its main rivers and ports , it had to depend on a weak railroad system that , with few repairs being made , no new equipment , and federal raids , crumbled away . The financial infrastructure collapsed during the war as inflation destroyed banks and forced a move toward a barter economy for civilians . The government seized needed supplies and livestock ( paying with certificates that were to be paid off after the war , but never were ) . By 1865 the economy was in ruins . </P>
what kind of economy did the former confederates want
what kind of economy did the former confederates want
agrarian - based economy
agrarian - based economy