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Show ll8 DESPOTISOf fl tion if such there are, tncn of educati?n and re de· ~vhich the great busi-despisc useful I~ldn~try, anste'~ to ignorant and stu~id ness of producuon 15 mtru lly ianorant and slUJ)I(l. slaves, and to. overseers eqt~cry tl~ing proceeds in the Under thcseclrcd_mst~l~~~tcchange or attempt at imsame dull rounl 'm"""otrte men know, and the IT_lOr_e thc_y provement. Tl e . d they are how !tm1ted IS reflect, the more convi!lcc ress J gnorancc is arrothe actual extent of th~IT pr~~at it knows every thing gant_, dogmatic~J' ccr ~UI~rOVCffiCUt does not enter into already. The 1 ea o lm .t is that the early progress all its thoughts. b H~nce 1 to civilization takes place of a people from ar an~~ steps and is subjected to by such hardlY percept~ . terru ptions, as almost to so many hmdrances an ~~~c believers in human perdiscourage the most ~angul ·vcn rise to the common fectibility, and to ave,g• are incapable of being opinion that sa vag\ nat\0118 hand the history of our civilized; whtlc on t ~ ot lCl~ow ci~ilization, once set O\~n aS'e ser~es to d s o':~s with an impulse cont~nufaJrly 111 motwn, advanl . h ot even the most senous ally accelerated, an w nc n obstacles can long reta~d.. inconsiderable ad van- The southern states er~ve. note c::onnection with the tage from their close and f"~~';:~h the social system i• free states of the north, o B tl . s means the natural so essentially d1fferent. Y 11 1 to a certain effect of the institutions of the sou~~~s~r~cwly settled extent counteracted, especmb y ~~~ considerable inllux states into whiCh there has een of northern population. TN AlltERICA. 119 SECTION II. Slavery as it ff:/(erts the amount of capital required for industrious undertakings. All enterprises of industry, whether agricultural, mechanical or mercantile, require a certain amonnt of capital for their successful prosecution. Every thing which enables these enterprises to be carried on with a less amount of capital, contributes to the increase of national wealth; and on the other hand, every thing which causes a greater amount of capital to be required, is an obstacle in the way of all new undertakings. In free communities, where the laborers have their own labor at their own disposal, and where in consequence, they are ready to sell it, either by the day, the year, or the hour, in any quantities, that is, in which it may be needed, beside the fixed capital invested in lands, workshops, tools, ships, steamboats, &.c., there are required two separate portions of floating capital, one to be invested in the stock to be operated upon, and the other to be employed in paying the wages of labor. But no more labor need be paiJ for than is actually employed. Whenever a smaller quantity will answer, a portion of the laborers may be dismissed; whenever more is needed, more laborers may be employed. But in a slave-holding community, in addition to these three portions of capital, another and a very large portion is required, in order to commence any industrious enterprise whatever; for though in such a community there is no payment of wages, yet a corresponding quantity of capital is necessary to furmsh food, clothing, and medicines for the slaves. A fourth and additional portion of capital is also required, to be invested in tlte purcltase of the laborers tltem~ elves,-a necessity which constitutes a great obstacle Ill the way of all industrious enterprises. |