Economic
Raising money from abroad

It is 1862. The two economies of the two sides are very different - one cotton, one grain etc. Both sides need cash to fund what is clearly going to be a very lengthy war.

Confederate Options
Export as much cotton to Europe as possible. This will earn lots of money for the Confederacy.
Stockpile the cotton. The shortage of cotton in Europe will drive up prices and we will make more money when we sell it to them.
Burn the cotton and promise to continue doing so every year until European countries agree to provide us with their support.

Union Options
Export as much grain to Europe as possible. This will earn lots of money for the Union.
Stockpile the grain. The shortage of cotton in Europe will drive up prices and we will make more money when we sell it to them.
Burn the grain and promise to continue doing so every year until European countries agree to provide us with their support.

Outcomes
The Confederacy stockpiled the cotton at first, then even started burning it. This was a bad decision – it wasted resources and Europe simply found alternative sources of supply. The Union sold its grain to Europe, providing it with lots of money which could be used to strengthen the war machine.