A Confederate victory was certainly possible, I think, as a result of Lee's invasion of Maryland during the late summer of '62. Had the Federal government been forced to flee Washington, the political damage would have been out of all proportion to the military situation. I can easily see Britain and France stepping in to separate the warring sides and impose a negotiated peace.
At the same time, I don't see that having much effect on subsequent European history, especially that of the World Wars*. Europe's cotton markets had already turned to Egypt and the Sea Islands by 1863. I don't think the South was going to recapture a large share of that. The North's natural trading partners were going to remain the South and Britain, and the South's trading partner the North. There would have been hard feelings for a few years after the war, I'm sure, but perhaps not so much as we might expect. By the summer of '62 both sides were more than a little appalled at how out of hand things had gotten, and the bitterness of the late war had not set in. An imposed settlement would have galled the zealots on both sides, but I think most people would not have been too put out.
I can well imagine North and South both allying with Britain and France during the World Wars for the exact same reasons that the United States did in real life.
* I'm one of those who tends to see it as a single war with a timeout to rest and re-arm in the middle. And certainly, it is the most important event of the last 200 years, perhaps even the last 500 years.
At the same time, I don't see that having much effect on subsequent European history, especially that of the World Wars*. Europe's cotton markets had already turned to Egypt and the Sea Islands by 1863. I don't think the South was going to recapture a large share of that. The North's natural trading partners were going to remain the South and Britain, and the South's trading partner the North. There would have been hard feelings for a few years after the war, I'm sure, but perhaps not so much as we might expect. By the summer of '62 both sides were more than a little appalled at how out of hand things had gotten, and the bitterness of the late war had not set in. An imposed settlement would have galled the zealots on both sides, but I think most people would not have been too put out.
I can well imagine North and South both allying with Britain and France during the World Wars for the exact same reasons that the United States did in real life.
* I'm one of those who tends to see it as a single war with a timeout to rest and re-arm in the middle. And certainly, it is the most important event of the last 200 years, perhaps even the last 500 years.
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