Alternate History Challenge - Postpone the 'Panic of 1873', and late 19th century 'Long Depression'

raharris1973

Well-known member
The 'Panic of 1873' in the United States ushered in the U.S. portion of this global downturn, or at least downturn in the advanced economies of the world. In Britain, the period 1873-1896 was called the 'Long Depression'.

There was economic growth, technological and industrial development in various parts of the world, but there was global price deflation and deleveraging and not the booming growth of the decades right before or the decades immediately after.

In the US, the post-panic downturn lasted through the whole second Grant administration, and led to the Democrats taking control of Congress and the disputed election of 1876, and the strike waves of 1877.

In Western Europe I think employment fell and fiscal belt-tightening occurred. For Germany it was a bust contrasting from the boom years right after the Franco-Prussian war and collection of the indemnity. In France, it was being reset back to square one fiscally after scrimping and saving to pay the indemnity to get the Prussian indemnity ended.

The causes are attributed widely to multiple factors: Over-speculation in railroad bonds in America, potentially some cases of over-building. Over-speculation in Germany fueled by Franco-Prussian war indemnity payments. The de-monetization of silver in Germany and then the United States in 1873.

At the end of the whole "Long Depression" process, which in America, was punctuated by the the "Panic of 1893", the ruination of Grover Cleveland's second term, and a strong pro-Republican realignment in 1896, the second industrial revolution was well underway, and American and German rates of growth, especially in the newer sectors, were much greater than British.

Your challenge is to find a way without messing with the US Civil War or Grant's election in 1868 to postpone any severe economic downturn globally, or at least in the United States, for at least five years, or ten if possible.

From there, calculate the effects on US and European economic and political history and the relative standings of the powers.
 
The 'Panic of 1873' in the United States ushered in the U.S. portion of this global downturn, or at least downturn in the advanced economies of the world. In Britain, the period 1873-1896 was called the 'Long Depression'.

There was economic growth, technological and industrial development in various parts of the world, but there was global price deflation and deleveraging and not the booming growth of the decades right before or the decades immediately after.

In the US, the post-panic downturn lasted through the whole second Grant administration, and led to the Democrats taking control of Congress and the disputed election of 1876, and the strike waves of 1877.

In Western Europe I think employment fell and fiscal belt-tightening occurred. For Germany it was a bust contrasting from the boom years right after the Franco-Prussian war and collection of the indemnity. In France, it was being reset back to square one fiscally after scrimping and saving to pay the indemnity to get the Prussian indemnity ended.

The causes are attributed widely to multiple factors: Over-speculation in railroad bonds in America, potentially some cases of over-building. Over-speculation in Germany fueled by Franco-Prussian war indemnity payments. The de-monetization of silver in Germany and then the United States in 1873.

At the end of the whole "Long Depression" process, which in America, was punctuated by the the "Panic of 1893", the ruination of Grover Cleveland's second term, and a strong pro-Republican realignment in 1896, the second industrial revolution was well underway, and American and German rates of growth, especially in the newer sectors, were much greater than British.

Your challenge is to find a way without messing with the US Civil War or Grant's election in 1868 to postpone any severe economic downturn globally, or at least in the United States, for at least five years, or ten if possible.

From there, calculate the effects on US and European economic and political history and the relative standings of the powers.
In 1880 the US had a larger economy than the British Isles did and the British Isles were third behind India.


How the US went in terms of monetary policy priorities practically dictated how the rest of the world went back then and not has changed since.
 
In 1880 the US had a larger economy than the British Isles did and the British Isles were third behind India.


How the US went in terms of monetary policy priorities practically dictated how the rest of the world went back then and not has changed since.

Actually India and the UK are 3rd and 4th behind Qing China on 205,309 :) - which may suggest that the GDP measure used isn't the best given the state of China at this point. Plus the nature of the US economy at the time and the relative closeness of other powers meant that while events in the US were important, possibly especially for the UK, the world's greatest fiscal and trading power in those years, it wasn't anything like as dominant as after 1919, let alone 1945.
 
Actually India and the UK are 3rd and 4th behind Qing China on 205,309 :) - which may suggest that the GDP measure used isn't the best given the state of China at this point. Plus the nature of the US economy at the time and the relative closeness of other powers meant that while events in the US were important, possibly especially for the UK, the world's greatest fiscal and trading power in those years, it wasn't anything like as dominant as after 1919, let alone 1945.
(misread the rankings. ;))

I recall reading somewhere that the British had to intervene in either the US Civil War or the Taiping Rebellion and picked the latter because they didn't want to fight the US again.
 
(misread the rankings. ;))

I recall reading somewhere that the British had to intervene in either the US Civil War or the Taiping Rebellion and picked the latter because they didn't want to fight the US again.

No problem :) but as I say the fact that Qing China is ranked the 3rd highest - taking the British empire as a whole - does suggest that economic power doesn't match industrial capacity.

Where did you read that?? They had economic interests in not having a war with the union plus unless a secure basis for it, such as the Trent Affair being unresolved intervening in the USCW would be vulnerable to charges of 'supporting slavery'. However they were determined to intervene over Trent until Washington backed down, accepting their actions had been wrong and releasing the seized men.

If Britain had gone to war with the union over the Trent then its unlikely the war would have lasted long before the union was forced to come to terms. It still lacked a substantial arms industry and the British blockade would have cut off imports of rifles and heavier weapons. There are a number of other problems but probably the key one would have been lack of gunpowder, while the blockade would have had serious economic impacts.

Intervening against the Taiping, which I think was largely indirectly, i.e. people like Gordon being given permission to command/join Qing forces against the rebels had a big economic bonus as the devastation of the war and the excesses of the Taiping meant that trade with China was badly affected and the country being destabilized wasn't in British interest. Otherwise local European forces organised militias to defend places like Shanghai. Don't think there was direct intervention by any British or other European nation against the Taiping. Gordon's 'Ever-Victorious Army' was overwhelmingly Chinese and paid by the Chinese government. It was largely Gordon's treatment of his men that made it such a formidable force.

Steve
 
No problem :) but as I say the fact that Qing China is ranked the 3rd highest - taking the British empire as a whole - does suggest that economic power doesn't match industrial capacity.

Where did you read that?? They had economic interests in not having a war with the union plus unless a secure basis for it, such as the Trent Affair being unresolved intervening in the USCW would be vulnerable to charges of 'supporting slavery'. However they were determined to intervene over Trent until Washington backed down, accepting their actions had been wrong and releasing the seized men.

If Britain had gone to war with the union over the Trent then its unlikely the war would have lasted long before the union was forced to come to terms. It still lacked a substantial arms industry and the British blockade would have cut off imports of rifles and heavier weapons. There are a number of other problems but probably the key one would have been lack of gunpowder, while the blockade would have had serious economic impacts.

Intervening against the Taiping, which I think was largely indirectly, i.e. people like Gordon being given permission to command/join Qing forces against the rebels had a big economic bonus as the devastation of the war and the excesses of the Taiping meant that trade with China was badly affected and the country being destabilized wasn't in British interest. Otherwise local European forces organised militias to defend places like Shanghai. Don't think there was direct intervention by any British or other European nation against the Taiping. Gordon's 'Ever-Victorious Army' was overwhelmingly Chinese and paid by the Chinese government. It was largely Gordon's treatment of his men that made it such a formidable force.

Steve
Had the British intervened in favour of the Confederacy there was a very real and reasonable fear that that they'd lose Canada along with a very realistic concern that Russia might turn it into a global war because the US and Russia were on quite friendly terms back then thanks to the US support of Russia during the Crimean War and the Russian sale of Alaska to the US afterwards.

The British also would have shortages in the home isles worse than unrestricted submarine warefare ever did because, even with "those uppity cousins going at each other's throats" they were still exporting massive amounts of (mostly northern) foodstuffs to the British.

EDIT: I don't remember where I read that.
 
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Had the British intervened in favour of the Confederacy there was a very real and reasonable fear that that they'd lose Canada along with a very realistic concern that Russia might turn it into a global war because the US and Russia were on quite friendly terms back then thanks to the US support of Russia during the Crimean War and the Russian sale of Alaska to the US afterwards.

The British also would have shortages in the home isles worse than unrestricted submarine warefare ever did because, even with "those uppity cousins going at each other's throats" they were still exporting massive amounts of (mostly northern) foodstuffs to the British.

EDIT: I don't remember where I read that.

Busy at the moment but will try and respond in more detail later but have to disagree with the analysis. ;)
 
The UK was one of the most anti-slavery places in the world at that time. Wouldn't there be a risk that Parliament would refuse to fund an intervention in favor of the Confederacy unless they were willing to give up what was their whole reason for succession in the first place?

The navy might be able to break the Union blockade of the Confederacy out of petty cash to punish the Trent Affair, but to maintain a blockade of the Union to prevent them from trading with the French, Dutch, Russians, Swedes, and various German states with coastlines would require keeping ships at sea covering a long coast with no convenient ports as they have for blockading European nations.
 
The UK was one of the most anti-slavery places in the world at that time.
And less than ten years previously fought at the side of the slave owning Turks against a fellow Christian Power ...
Nor did it have any problems with Brazil, Spain, Netherlands ...


The navy might be able to break the Union blockade of the Confederacy out of petty cash to punish the Trent Affair, but to maintain a blockade of the Union to prevent them from trading with the French, Dutch, Russians, Swedes, and various German states with coastlines would require keeping ships at sea covering a long coast with no convenient ports as they have for blockading European nations.
What do you think Halifax, Bermuda and Nassau are for?

The British also can do the thing they did in WWI and WWII - blockade opponents by controlling supply, i.e. pressuring potential suppliers not to sell the US.

I have nothing to say on the OP. But the denial of people to admit that the ACW Union would had been curbstomped by the UK - or France - sets me off :)
Will not pollute thread further - so sowee!
 
And less than ten years previously fought at the side of the slave owning Turks against a fellow Christian Power ...
Nor did it have any problems with Brazil, Spain, Netherlands ...
With Brazil, it had problems. Although a lot of those were compounded by Brazil instituting customs taxes on British products...
 
The UK was one of the most anti-slavery places in the world at that time. Wouldn't there be a risk that Parliament would refuse to fund an intervention in favor of the Confederacy unless they were willing to give up what was their whole reason for succession in the first place?

The navy might be able to break the Union blockade of the Confederacy out of petty cash to punish the Trent Affair, but to maintain a blockade of the Union to prevent them from trading with the French, Dutch, Russians, Swedes, and various German states with coastlines would require keeping ships at sea covering a long coast with no convenient ports as they have for blockading European nations.
The Cabinet favored the Confederates. Much of Parliament and most of the people who voted for them did not.

Then there were the Canadians. More than 50,000 Canadians volunteered to serve in the Union Army. That's more troops than Lee had at Antietam.
 
What do you think Halifax, Bermuda and Nassau are for?
Mostly for defending their corresponding colonies and intercepting convoys from New Spain when that was a thing. A close blockade takes a lot of ships at sea for a lot of time. In the northern Atlantic they're getting damaged by storms. England could maintain a blockade across the English Channel from its main ports pretty easily and could trivially cut off the Mediterranean, but Halifax to Maryland is a lot longer and there aren't any offshore islands they can reasonably take to stage from. Bermuda and Nassau are useful for blockading parts of the Confederacy, but completely useless for blockading the Union.

This is the very dawn of the steam age. Steam engines aren't efficient enough to go far on the amount of coal a practical warship can carry. As far as the logistics of blockade go this is still the Age of Sail.

Bringing up badly placed ports isn't helping your case that a blockade is cheap. If England had the will to fight they could win, but I don't think they have the will to fight long enough to win. Parliament controls the purse strings and if the Cabinet wants more than a brief punitive expedition they're going to have to beg money from Parliament.
 
Mostly for defending their corresponding colonies and intercepting convoys from New Spain when that was a thing. A close blockade takes a lot of ships at sea for a lot of time. In the northern Atlantic they're getting damaged by storms. England could maintain a blockade across the English Channel from its main ports pretty easily and could trivially cut off the Mediterranean, but Halifax to Maryland is a lot longer and there aren't any offshore islands they can reasonably take to stage from. Bermuda and Nassau are useful for blockading parts of the Confederacy, but completely useless for blockading the Union.

This is the very dawn of the steam age. Steam engines aren't efficient enough to go far on the amount of coal a practical warship can carry. As far as the logistics of blockade go this is still the Age of Sail.

Bringing up badly placed ports isn't helping your case that a blockade is cheap. If England had the will to fight they could win, but I don't think they have the will to fight long enough to win. Parliament controls the purse strings and if the Cabinet wants more than a brief punitive expedition they're going to have to beg money from Parliament.
The RN also would have gone up against the USN on what was effectively the USN's doorstep. The USN and CSN had an amazing ability to show up practically anywhere. One of the naval battles between the two took place off the coast of France a few miles from Cherbourg in 1864. A Confederate ship (CSS Shenandoah) docked near Melbourne, Australia in January, 1865 and later showed up in Liverpool, England in November to surrender while being chased from the West coast of Mexico and around Cape Horn for several months by the USN.
 
Mostly for defending their corresponding colonies and intercepting convoys from New Spain when that was a thing. A close blockade takes a lot of ships at sea for a lot of time. In the northern Atlantic they're getting damaged by storms. England could maintain a blockade across the English Channel from its main ports pretty easily and could trivially cut off the Mediterranean, but Halifax to Maryland is a lot longer and there aren't any offshore islands they can reasonably take to stage from. Bermuda and Nassau are useful for blockading parts of the Confederacy, but completely useless for blockading the Union.

This is the very dawn of the steam age. Steam engines aren't efficient enough to go far on the amount of coal a practical warship can carry. As far as the logistics of blockade go this is still the Age of Sail.

Bringing up badly placed ports isn't helping your case that a blockade is cheap. If England had the will to fight they could win, but I don't think they have the will to fight long enough to win. Parliament controls the purse strings and if the Cabinet wants more than a brief punitive expedition they're going to have to beg money from Parliament.

However the bulk of the RN at this stage is hybrid powered. They have steam engines for consistent speed and being able to ignore wind when required, as for instance in a battle, but also have a full set of sails in most cases. Only some of the smaller ironclad gunboats didn't have any sails I believe. Note that even those however were able to make an Atlantic crossing. Also in 1812 Britain took at least one island in New England to use as a base and could do so again.

Note also that its not just a blockade of foreign trade that would hit the union. Lifting the union blockade of the south would worsen its position by indirectly boosting the south, which the union is also fighting. Furthermore disruption of coastal traffic and fishing/whaling and the like will cause the north problems.

In terms of will, if the north doesn't back down then the will's there. It wasn't just the stopping of a British ship on the high seas between two neutral ports. The Trent was a RN steam packet ship. With its worldwide trading commitments Britain can't allow either to stand. Also at this time taxes are very low so additional spending for deploying forces to the N American region and then if the conflict lasts any length of time for further expenditure is very possible.
 
Also in 1812 Britain took at least one island in New England to use as a base and could do so again.
The British also burned down Washington, DC during the War of 1812.

The US of the early 1860s was not the US of the early 1810s.
 
Had the British intervened in favour of the Confederacy there was a very real and reasonable fear that that they'd lose Canada along with a very realistic concern that Russia might turn it into a global war because the US and Russia were on quite friendly terms back then thanks to the US support of Russia during the Crimean War and the Russian sale of Alaska to the US afterwards.

The British also would have shortages in the home isles worse than unrestricted submarine warefare ever did because, even with "those uppity cousins going at each other's throats" they were still exporting massive amounts of (mostly northern) foodstuffs to the British.

EDIT: I don't remember where I read that.

bintananth

Sorry I didn't reply further last night but in the midst of a multi-player gaming session.

For a hell of a lot of details may I suggest you see the start of trent-war-possible-timeline - which is on the AH page of a USCW site. Not so much the TL itself which unfortunately seems to have stalled. However the author asked for and got a lot of discussion on the issue before the TL started which includes a hell of a lot of information. True the author is very confident about a British victory, see if-they-will-not-meet-us-on-the-open-sea for what seems an earlier version of his TL, on the AH site. Love the impact on world history of the union asking for a Prussian representative at the peace talks.

To cut to the chase in 1861-62 the north, like the south, was still very much arming up for war. It was very reliant on imports from Europe and Canada in some cases, plus the fact that the south was in a similar but worst position. Later on it had its own developed gun industry but that's not the case here. As such a rejection of the British ultimatum, which Lincoln didn't realise would mean war, in which case.
a) The large number of rifles that the union had ordered from Europe wouldn't be arriving as their going to be subject to the blockade that Britain will be imposing. A lot of the Lee Enfield rifles might but they will be in the hands of Canadian militia. Note that also in this period a fair number of the US produced rifles were reliant on gun barrels imported from Britain.
b) Possibly even more critically to produce gunpowder you need among other items saltpetre and the current overwhelming source for this is India. It takes a long while to produce bed to locally supply this - 12-18 months IIRC and until that's done in large amounts the union will have a dire supply issue for powder. Some can be supplied from bat droppings in caves but again there are issues in setting up collection.
c) Money. Like any power the union depends on loans to pay for the war. Its going to face a serious problem as its now at war with the world's greatest lender. Furthermore while others are available, most noticeably France, their going to have a loaners market and also the union is a much worse risk so expect markedly higher interest rates. The government can try and get local loans, war bonds, but there will be limits to this. Matters are worsened as its primary source of income is taxes on imports and with a British blockade those are likely to drop considerably. Its also not going to be able to move Californian gold and Nevada silver very easily if at all as they came by sea - remembering this is before a trans-continental railway. Which apart from anything else means minting new coins is going to be difficult and in a war paper money tend to be unpopular. Even the chance of a war with Britain caused a run on the banks and an actual war is likely to make it worse.

Those are probably the most important factors but there are a number of others such as manpower - no further anti-slavery volunteers from Britain and Canada and migrants from Europe are likely to be significantly cut while the union now needs extra forces. [Yes you may see a lot of volunteers, especially with large areas of the economy in trouble but until they can be trained and equipped their an additional burden on the country.] Horses - a lot came from Canada and won't now. Even lead for bullets appears to be an issue.

In terms of the threat to Canada two points;
a) The war starts with winter as well which pretty much prevents any fighting in Canada until the thaw. Britain, in preparation for a potential war sent men and weapons to Halifax, many of whom continued overland to the Canadian provinces - now Quebec and Ontario to boost the defences both in terms of manpower and training/equipment for the local militias. If there's an actual war then this is likely to continue and any US attack in the spring is likely to run into serious opposition. Especially since their going to be facing British regulars, who have much better training than the union forces. Basically despite being increasingly equipped with rifles most of the forces on both sides were largely used as Napoleonic type infantry, assembled in line/bloc formation and firing at close range at other such formations. British forces were trained as skirmishers, able to hit individual targets at 400-500 years. As such anywhere there is sufficient range to use that ability union forces are going to suffer horrendous casualties. The smoke from gunfire is going to be a limiting factor as well but not before a lot of soldiers are killed. Especially if officers and NCOs are targeted there's a good chance that union forces are likely to frequently be crushed before they could close to firing range. There is a similar superiority in terms of artillery as the vast majority of union weapons are still smooth bore canon. Britain has rifled guns with much longer range and greater accuracy.

b) Also Britain can take the offensive on the eastern coast with attacks on union ports to tighten the blockade. The union has a number of fortifications but their overwhelmingly masonry forts, which are vulnerable to the 68lb canon that equip a lot of the RN battleships. Furthermore for budgetary reasons I suspect many of those forts have only a fraction of the guns and gunners that they were designed for. Which is before I believe a number of the heavier guns were transferred out to boost the defence of Washington.

Note that such attacks will not just cause material damage. Its going to prompt a lot of local governors and mayors, as well as merchants and ordinary people to want additional protection. Which will tend to draw men, artillery and powder especially from other fronts.

As for food supplies to Europe they will be disrupted because no US blockade runners will want to carry a heavy but cheap cargo like grain while British flagged ships won't be coming of course. As such it will have to depend on 3rd party shippers. I very much doubt that Lincoln will risk forbidding exports of grain so it will still occur. Note also that once that grain leaves a US port, and especially once its passed to a merchant in Europe the US has no say on where it ends up. As such British merchants can easily buy such grain or seek from other sources.

In terms of Russia don't rely on it. The country was shown how backward it was during the Crimean War and the Czar knows it needs a long time to modernism so it has zero interest in another costly war in Europe it can ill afford. That was the reason why it sold Alaska after all, because it wanted the cash for internal development. Also like other powers it was upset by the union actions in the Trent seizure. The Russians did send ships to the US during the civil war OTL but that was because during the crisis over the Polish uprising there was fear of war with Britain and France so they wanted their fleets in a safe neutral port where they couldn't be attacked.

In terms of raiders the US can try but:
a) privateering is now illegal by international law so any such ships will have to be formally USN ships.
b) Especially if much of the current USN, on blockade duty is seized/sunk by the RN when war starts the US will be short of men, gun and possibly trained sailors for such ships.
c) Unlike the US Britain has a world-wide collection of bases along with representatives in many big neutral ports. Coupled with numerous telegram lines that means that a raider that enters a neutral port, either to hand over a prize or gain supplies could well find RN ships waiting for it when it sails again. As well of course as a very large navy including many smaller ships that can hunt down a merchant ship converted to a raider.
d) If necessarily, as its less than 50 years since the Napoleonic wars have ended, Britain can restore a convoy system, at least in threatened areas.

Anyway sorry this is a long post but a lot to cover and more details in the 1st if those links.

Steve
 
The British also burned down Washington, DC during the War of 1812.

The US of the early 1860s was not the US of the early 1810s.

To be pedantic they burnt down a number of government buildings in Washington in response to the US burning of York - now called Toronto and a number of villages on the Niagara border.

The UK of 1861 isn't the UK of 1810 either and its not in a war with a massive empire at this point. While the US is already engaged against its own rebels, who how now become significantly more powerful.

Britain has a very powerful fleet. What the USN has currently is a very small force, largely converted merchantmen on blockade duty even if many of those aren't lost in the 1st week or so. [The RN commander on the N American station was aware that rejection of the ultimatum would mean war so he doesn't have to wait for the US reply to reach London and then orders to be sent to him]. Even without that news is likely to reach him by fast packet ship in Bermuda before it reaches Washington and they can in turn send information to their far flung forces.

If Britain seizes an island or two how is the US going to take it back? They are starting to build some small ironclads but the number is limited and their vulnerable to British fire while Britain has far more ships and a lot more shipbuilding capacity.
 
To be pedantic they burnt down a number of government buildings in Washington in response to the US burning of York - now called Toronto and a number of villages on the Niagara border.

The UK of 1861 isn't the UK of 1810 either and its not in a war with a massive empire at this point. While the US is already engaged against its own rebels, who how now become significantly more powerful.

Britain has a very powerful fleet. What the USN has currently is a very small force, largely converted merchantmen on blockade duty even if many of those aren't lost in the 1st week or so. [The RN commander on the N American station was aware that rejection of the ultimatum would mean war so he doesn't have to wait for the US reply to reach London and then orders to be sent to him]. Even without that news is likely to reach him by fast packet ship in Bermuda before it reaches Washington and they can in turn send information to their far flung forces.

If Britain seizes an island or two how is the US going to take it back? They are starting to build some small ironclads but the number is limited and their vulnerable to British fire while Britain has far more ships and a lot more shipbuilding capacity.
By 1861 the US had surpassed the UK and the more astute members of the British aristocracy knew this.

This is not "America, fuck yeah!". It's a simple matter of reality. In 1803 the US barely approved the purchase Louisiana from France for $15 million. That territory transfer is 27-28 times larger than all of Scotland.
 
However the bulk of the RN at this stage is hybrid powered.
Yes. That means they can beat the crap out of any pure sail ships they encounter, but their steaming range is too short to have any impact on the distance from port at which they can maintain a blockade and having coal bunkers instead of food and water if anything shortens their endurance on station for a given displacement.

Note also that its not just a blockade of foreign trade that would hit the union. Lifting the union blockade of the south would worsen its position by indirectly boosting the south, which the union is also fighting. Furthermore disruption of coastal traffic and fishing/whaling and the like will cause the north problems.
Disrupting the Union blockade of the confederacy may stretch out the war, but the South has a recruitable manpower problem as well as an industry problem because it's less urban and a lot of its population is slaves and only the latter can be solved through imports. Nobody is going to send land forces to aid the Confederacy unless they are going to get to de facto if not de jure annex it after the war. Disrupting coastal traffic and fishing/whaling requires a blockade which is exactly what I am disputing Parliament will allow the Royal Navy to maintain.

no further anti-slavery volunteers from Britain and Canada
Anyone willing to cross the Atlantic in a mid-19th century ship to participate in someone else's war against slavery is also willing to make a lot of noise outside the Houses of Parliament. This is why the UK can not conduct a war of significant length in favor of the Confederacy. They can make a punitive raid against Union naval forces using forces already in the area and have it accomplished before the papers can publish the story, but they can't prosecute an actual war. If the Trent Affair happened at the very end of the war and the Confederacy surrendered before the UK could respond they could fight that war, but the UK is not Russia or Prussia or the Hapsburg Empire. They can't just ignore public sentiment and do whatever the king wants. They can shape public sentiment, but they've been shaping it against slavery for too long to do a 180.

As for food supplies to Europe they will be disrupted because no US blockade runners will want to carry a heavy but cheap cargo like grain while British flagged ships won't be coming of course. As such it will have to depend on 3rd party shippers. I very much doubt that Lincoln will risk forbidding exports of grain so it will still occur. Note also that once that grain leaves a US port, and especially once its passed to a merchant in Europe the US has no say on where it ends up. As such British merchants can easily buy such grain or seek from other sources.
So food supplies to Europe will be disrupted, but food supplies to the UK won't be even though all the food is moving in continental European ships and presumably through continental European ports. And the British merchants being frozen out of transatlantic trade are just going to smile and nod rather than adding their voices to the antislavery league and the people who'd rather the price of American cotton go up so they can sell more wool or Indian cotton.
 
OK, we have an economic OP, looking for a different economic scenario.

Then we have two-and-a-half more sorta economic posts...

Then 13 and a half posts on naval comparisons and a Trent War rehash.

Could we, pretty please, get back on topic?
 

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