Some $6,000,000 was squandered in supporting the market and from the entire operation it is estimated that less than $7,000,000 was realized by the Confederacy, although, as stated by the _Economist_, over $12,000,000 of the bonds were outstanding and largely in the hands of British investors at the end of the war[1069].
The loan soon became, not as had been hoped and prophesied by Slidell, a source of valuable public support, but rather a mere barometer of Southern fortunes[1070].

From first to last the Confederate Cotton Loan bore to subscribers the aspect of a speculative venture and lacked the regard attached to sound investment.

This fact in itself denied to the loan any such favourable influence, or "financial recognition of the Confederacy," as Mason and Slidell, in the first flush of success, attributed to it.

The rapid fluctuations in price further discredited it and tended to emphasize the uncertainty of Southern victory.

Thus "confidence in the South" was, if anything, lessened instead of increased by this turning from political to financial methods of bringing pressure upon the Government[1071].
Southern political and parliamentary pressure had indeed been reserved from January to June, 1863.