Meantime the blockade was beginning to tell both upon friends—or, to speak with exactness, upon neutrals—and upon enemies.
The price of cotton decreased at the South, and advanced abroad.
The supply was short, the crop of 1861 being about half that of the previous year; East India cotton had not yet come into the market, and the demand was great.
The price of manufactured goods at the South advanced enormously.
The time was ripe for judicious action; and the Liverpool cotton-merchant, who in the winter of 1861-62 had found ruin staring him in the face, suddenly awoke to the fact that the ports of the South were an Eldorado of wealth to the man who could go in and come out again in safety.
With cotton at fourpence a pound in Wilmington and two shillings a pound in England, the Liverpool merchant was not a man to hesitate long.
Blockade-running from Europe had already been attempted, but the profits had not been sufficient to outweigh the risk of capture
on Roads, 67; fight with the Merrimac, 68 et seq., 78 et seq.; sinks, 81
Monroe, Fortress, 47 et seq., 52
Montauk, the, 216 et seq.; destroys the Nashville, 217 et seq.
Morgan, Fort, 133, 139
Morris, Captain, 187
Morris, Lieutenant, 62
Nahant, the, 117 et seq.
Nashville, the, fitted up, 215 et seq.; destroyed, 217 et seq.
Nassau, port for blockaderun-ners, 36 et seq., 155 et seq.
Navy, Confederate organization, etc., 21
Navy, Union organization, 1-21; condition of, in 1861, 232; close of war, 236
Navy Yard, Norfolk, 46 et seq.; abandoned, 52 et seq.; partly destroyed, 53
Neptune, the, 147 et seq.
New Orleans, La., blockade at, 35, 46, 122
Newton, Isaac, Engineer of Monitor, 56, 58
Niagara, the, at Charleston, 34, 84, 121 et seq.
Norfolk, Va., blockaded, 35, 46 et seq., 55, 71 et seq.; surrenders, 78
officers, naval, at commencement of war, 4 et seq.
Oneida, the, 136
Oreto, the, 183
Owasco, the, 144, 144 (note)
Palmetto State, th