History of the United States (1849–1865) and South met in Virginia to try to hold together the Union, but the proposals for amending the Constitution were unsuccessful. In February 1861, the seven states met in Montgomery, Alabama, and formed a new government: the Confederate States of America. The first Confederate Congress was held on February 4, 1861, and adopted a provisional constitution. On February 8, 1861, Jefferson Davis was nominated President of the Confederate States. On April 12, 1861, after President Lincoln refused to give up Fort Sumter, the federal base in the harbor of Charleston, South Carolina, the new Confederate government under President Jefferson Davis
Economy of the Confederate States of America Times to 1970" available on-line from the U.S. Census Bureau. Economy of the Confederate States of America 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