I do wonder how the (cotton) planter fixation on "direct trade", stimulated by the shadowy figure of consul Charles Goethe Baylor, with Continental Europe, rather than with middlemen in hostile, abolitionist "Old and New England", would fare in an independent Confederacy, especially considering Trenholm's earlier boast ("We have merchants along the whole North Sea coast and agents operating from Havana to Constantinople. Ships waving the Confederate flag can be found the world over now, in greater abundance than those flying the flag of the United States!"). The Cotton Planters Convention of Georgia, presided over by Howell Cobb, achieved some antebellum success in appointing agents and fostering mercantile and financial connections in Western Europe before secession, with its activity culminating in a "magnificent three-week fair at Macon in December, 1860, to which goods were shipped for display and sale from Belgium, Holland, Germany, France, and Russia." It was here also that the secessionist Dr. Joseph Jones of Augusta gave an address ("Agricultural Resources of Georgia") to the Convention outlining the South's ruinous "economic vassalage" to the North, and boasting in conclusion that "GEORGIA has been and will ever continue to be, if she improves aright the blessings of Providence, the EMPIRE STATE of the SOUTH--Georgia is not only the Empire State of the South, but she has the resources and the power to maintain her independence with or without the South, and to form by herself an EMPIRE."
Indeed, I would argue it was the intrepid spirit of Georgia's entrepreneurs which did much to enable secession in the first place! From
@David T (RIP): '...things looked bleak for the South Carolina ultras. But then came the "incredible coincidence" I described at
http://groups.google.com/group/soc.history.what-if/msg/8b15a54b3f1a3dbd "A railroad had just been completed linking Savannah, Ga., and Charleston, S.C. As the South Carolina legislature deliberated, leading citizens of the two cities took part in a celebration. The Georgians, carried away by the emotion of the moment, pledged their state's support for secession. Suddenly convinced that other states would follow, the legislature moved the secession convention up to December. The 'coincidence,' Freehling argues, changed history. Had South Carolina not taken this step, Unionists might have prevailed throughout the South."'
Also established in 1861 was the Atlanta-based "Manufacturing and Direct Trade Association of the Confederate States", with William Gregg of Graniteville, SC., fame as president, but the War seems to have vastly-limited its activity. Neither did the proposed "Iron-Masters' Convention" occur in 1863, especially considering competition between firms for government patronage, particularly in East Tennessee.
I have some notion of C.S. railroad development and an "Agency" designed to promote it financially with European capitalists and with planter savings, but I'd imagine the most significant road-building would occur in Central Alabama, Louisiana, Texas, and Arizona, with the ultimate intent of hauling the "great staple" to Guaymas. It was the opinion of some far-sighted men in the South, at least not those engaged in the careworn, fluctuating, competitive production of it, that China and India would become the chief consumers of raw cotton in the twentieth-century.