Boris Badenov
Fortis Leader
There's a pretty good case to be made that the South had a reasonable chance for a negotiated peace up till late 1864, or maybe even early 1865. Certainly well after Gettysburg, in any case. If the the Atlanta Campaign hadn't been totally bungled every step of the way, Sherman would have been parked in extremely unfriendly territory with questionable supply lines. I would agree that after early 64, the Confederacy had very little chance of "conquering peace", as the song goes, but a political solution was in no way far-fetched had any one of a few things (political or military) broken the other way. IMHO, etc etc.