In response to Southern restrictions on the export of cotton in 1861 and 1862,

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When faced with the Southern restrictions on cotton export, Britain had to turn to alternate sources of supply to meet its cotton demand. This led to a decrease in demand for Southern cotton and a rise in prices for other sources of cotton. It also led to the development of new sources of cotton, such as India and Egypt, which impacted the global cotton market in the long term. Britain did not provide financial aid to the Confederacy, nor did it provide naval blockades protecting Southern cotton. Although the price of Southern cotton did soar, it was not the most significant impact of the export restrictions.

In Response to Southern Restrictions on the Export of Cotton