I don't think it's a nonsense exercise. The South was inferior in terms of industry and population, but not in terms of its military in and of itself. The South had advantages over the north. Brilliant officers and generals, highly skilled marksmen and horsemen, a deeply rooted tradition of soldiering. They also had the tremendous strategic advantage of fighting on their own turf. The war went very badly for the Union for two years before the tide decisively turned in their favor. While I think it is difficult to conceive of the South having one independently, is is very conceivable that the entry of the British Empire into the war could have weighed things in their favor. If diplomacy had taken a few slightly different turns, Britain may have entered the war on the Souths behalf...the most wealthy and powerful industrial/military nation of the time. The brilliance of the Emancipation Proclamation, which was a practically ineffective gesture until after the war ended, was a very symbolically effective one. He turned the war into a moral war, and Britain could not justify entering a war the had become about slavery on paper, while they might have considered entering a about economics.
I think the idea of a Confederate History month has value because Civil War history is already so heavily weighted in the Union's favor. Most Americans outside the South have no real understanding of what life was like from the Southern perspective then, or even really now. People still make cruel and ignorant assumptions about Southerners and have no realistic grasp of this fascinating unsung culture that is either romanticized, a la Gone With the Wind, or grotesquely villainized, a la The Wild, Wild West. A few films have managed a balanced portrayal...Cold Mountain, The Horse Soldiers, Friendly Persuasion, and Shenandoah come to mind. But I feel that most Americans still have a general sense that the the Civil War was a war of "good guys" and "bad guys."
As I wrote before though, I understand that a Confederate History month would be hurtful to many people, and have no desire to inflict more pain in our countries ever-bleeding racial saga.
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