Though granting legal recognition to the Confederate States of America as belligerents, the United Kingdom of Great Britain and Ireland under Queen Victoria, announcing the stance on this day in 1861, never accorded the breakaway southern states with the status of a nation, negotiated treaties or exchanged ambassador and trade came to a halt. Despite massive losses in the textile sector, particularly in Manchester, due to loss of imported cotton, most Britons, maintained their fidelity to the Union and Abraham Lincoln, and CSA president Jefferson Davis’ wager that dependence on “King Cotton” would lead to diplomatic recognition, mediation or intervention militarily, fell far short of hopes. After the costly war in the Crimea, European powers wanted no more entanglements. Some smuggling of cotton occurred (see previously) with privateers running bundles across the Atlantic in exchange for munitions and luxury goods, but most mills—even threatened with bankruptcy and famine for the workers—refused to process the Confederate contraband.