North and South (The advantages)

North-
Navy
already had a standing army
already had a working government
had more supplies: guns, food
22 million people
had banks
had the power to tax
nationalism
4 slave states on their side (most important of those was Kentucky)
Lincoln was a good and practical politition


South-
they were fighting a defensive war (the North had to bring the war to them)
they knew the territory
experience
militia
interior lines of communication
Cotton (used for British recognition by way of an embargo {which didn't work})
slaves (about 3 million)
9 million people
they had two of the three military academies in the South