The south was poorer than the north already, and war is expensive. Plus the union armies burned down a lot of the south (especially Sherman).
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Sherman's March
The South had developed a more balanced economy after Reconstruction
The Union naval blockade, which prevented the Confederacy from exporting its plentiful cotton in exchange for war-supplies. This crippled the Southern economy.
With over 300000 dead, a million wounded, her manufacturing and agricultural base destroyed, a hostile Yankee government and carpetbaggers arriving by by the tens of thousands, how could it not?
The South's economy was left devastated by the Civil War. Farming was less profitable. Infrastructure such as railroads needed to be repaired. At least a fourth of working-age white men were killed during the war, which cast many families into poverty.