What would the consequences be of an unsuccessful Gasdsen Purchase be?

The Gadsden Purchase was an agreement by the United States and Mexico that secured them a significant piece of land in what is now southern Arizona and New Mexico. Southerners desired a transcontinental railway line from the South to the West Coast, believing it would bring economic prosperity to the South. However, the lands of the American Southwest were too mountainous, so it would be impossible to build. The Mesilla valley, to the south of the New Mexico Territory, was disputed by the two countries. Its flat terrain was ideal for building such a railway line. After a period of negotiation, the cash-strapped Mexican government agreed to sell the land to America in what would be known as the Messila Treaty. However, because it was seen as an attempt to increase the South's economic prosperity, and thus increase the power of slavery, Northern senators refused to approve of a railway line through the land until the 1880s.

The Treaty was controversial in both countries. The Mexican president Santa Anna was hesitant to give more land to the Americans. This was not helped by antagonism on behalf of the Americans, especially early on in negotiations they wanted much more land. On top of that, the Mexican people were generally opposed to the treaty. Even after finally being agreed to by Santa Ana, it was rejected in the U.S. Senate, primarily by Northern Abolitionists. It was then revised and tweaked, and sent to the senate for a second time. That time, the Senate accepted.

So, let's say for one reason or another the Treaty fails. Perhaps the negotiations go even poorer, and Santa Ana walks away from the negotiation table, refusing to sell anything. Or perhaps after the bill dies the first time, it is unable to be passed again, thus killing the treaty. What do you think the effects of this be?
 
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