President of the Confederate States of America advice and consent of the senate. He was further empowered to grant reprieves and pardons, and convene and adjourn either or both houses of Congress under extraordinary circumstances. The president was indirectly elected by the people through the Electoral College to a six-year term, and was one of only two nationally elected Confederate officers, the other being the Vice President. On February 18, 1861, Jefferson Davis became president of the provisional government. On February 22, 1862, he became president of the permanent government and served in that capacity until being captured by elements of the United States Cavalry in 1865.
Economy of the Confederate States of America total US exports by dollar value. Confederate leaders believed that this would give the new nation a firm financial basis. Cotton was the primary export, accounting for seventy-five percent of Southern trade in 1860. The Confederate States entered the war with the hope that its near monopoly of the world cotton trade would force the European importing countries, especially Great Britain and France, to intervene in the war on her behalf. In 1861, Southerners at the local level imposed an embargo on cotton shipments — it was not the government's policy. Millions of bales of cotton went unshipped, and by