Confederate States presidential election 1861, Jefferson Davis was elected Provisional President and Alexander H. Stephens was elected Provisional Vice President. Stephens took office on February 11 and Davis took office on February 18, 1861. On March 11, 1861, a permanent Constitution was adopted. Article II Section 1(1) reads: ""The executive power shall be vested in a President of the Confederate States of America. He and the Vice President shall hold their offices for the term of six years; but the President shall not be re-eligible."" Article II Section 1(7) of the Confederate Constitution provides citizenship to people "born in the United States prior to
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