This action lowered morale. I know that it isn't the first one due to the fact that during the war they couldn't, and this is supported by when millions of dollars of cotton was stolen from the Confederates from the ports and given to the Union. That being said, it would put strain on the economy, no more export and import, supporting the other two, leaving only morale. Morale is a matter of opinion. Therefore, it can only be morale.
