Page:Popular Science Monthly Volume 48.djvu/161

Rh the never-ending and predominant theme for discussion alike to the press, the politicians, the pulpit, Congress, and the local legislatures. There had been, indeed, fierce discussions and political divisions in 1836-'38 respecting the organization and management of banks, and the establishment of a national bank; and in 1840-'41 and 1846, respecting the construction and adjustment of the tariff, and the principles of free trade and protection. But during the decade from 1850 to 1860 all of these questions were generally regarded as old-time issues, and by the generation that then had control of the business and government of the country were both substantially ignored and forgotten; and it was during the latter years of this period, or from 1851 to 1860, that the comparative growth and progress attained by every department of American trade, commerce, and industry was greater than for any corresponding period either before or since, in the history of the nation. During the same decade the increase in population of the country was returned at 35·59 per cent, its increase in wealth at 126·4 per cent, and the average of property to each individual at $510. In short, it would be difficult to find a more happy illustration of the influence of the "noninterference" or "nonobstructive" policy of a government with the trade, commerce, and industry of a highly civilized and active people, than the condition of the United States at that time afforded.

That the country, viewed from a politico-economic standpoint, was at this time in all respects what it should or might have been, is not, however, asserted. The institution of slavery, denying to over four millions of human beings the freedom of the person, the right to real property, and the blessings of education, was tolerated and supported by law. The paper and ordinary currency of the country, neglected by the General Government, and issued by local banks under almost as many different systems as there were States in the Union, was as defective as could be well imagined, and often necessitated a rate of exchange between the different sections of the country which was equal to or in excess of the current rates of interest at the principal commercial centers.

But notwithstanding these drawbacks the people in general were highly prosperous. Pauperism, apart from the large cities, was almost unknown; wealth was very equitably distributed; while the opportunities for elementary education were free, and in all the more densely populated portions of the country amply provided. In short, the prosperity of the people was so great, through the utilization of their natural resources, their activity, and the continued influx of the population and capital of other countries, that it constituted in itself an obstacle to reform; and the nation at large may be said to have actually preferred to