...ar; 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 ...