John Slidell, the Confederate States emissary to France, did succeed in negotiating a loan of $15,000,000 from Erlanger and other French capitalists. The money went to buy ironclad warships, as well as military supplies that came in with blockade runners. The British government did allow the construction of blockade runners in Britain; they were owned and operated by British financiers and ship owners; a few were owned and operated by the Confederacy. The British investors' goal was to get highly profitable cotton.