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American cotton made up about 2/3 of the global cotton supply — other 1/3 every other country of the world About 75% of cotton produced in the south was exported American northern markets relied on cotton from the south The south relied on american and atlantic markets for food, manufactured goods, and loans = south reliance on the north contributed to division of nation —> while north's industry is booming with diversity, south has a one crop economy (makes sense why wouldn't want to abolish slavery) Plantation system = financially unstable One-crop economy — price of cotton depended on world conditions, discouraged a diverse agricultural and manufacturing system
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