Provides water like I the river does
In Texas it is on June23rd 1919, Florida is 1969, and Maine is in 1920.
To benefit economically - this was particularly true with the sugar plantations in the Indies, which relied on slave labor in the triangular trade (slaves from africa, sugar from Americas, refined goods from Europe..)
The blockade was supposed to prevent the South from getting resources and support from other countries who would support it such as those in Europe who were ready to recognize it as independent and help it if it meant that in the long run it would help them by weakening the Union.