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 South. Is this service over paid? If so, why do not the planters transfer capital and energy to it from the plantations? It is not so. Dispersed and costly labour makes the cost of trade or transfer enormous (as it does the cost of cotton producing). It is only when this wealth is transferred to the Free States or to Europe that it gives great results to human comfort and becomes of great value. The South, as a whole, has at present no advantage from cotton, even planters but little. The chief result of the demand for it, as far as they are concerned, is to give a fictitious value to slaves.

Throughout the South-west I found men, who either told me themselves, or of whom it was said by others, that they settled where I found them, ten or fifteen years ago, with scarcely any property beyond half a dozen negroes, who were then indeed heavily in debt, but who were now quite rich men, having from twenty to fifty negroes. Nor is this at all surprising, when it is considered that cotton costs nothing but labour, the value of the land, however rich, being too inconsiderable to be taken into account, and that the price of cotton has doubled in ten years. But in what else beside negroes were these rich men better off than when they called themselves poor? Their real comfort, unless in the sense of security against extreme want, or immunity from the necessity of personal labour to sustain life, could scarcely have been increased in the least. There was, at any rate, the same bacon and corn, the same slough of a waggon channel through the forest, the same bare walls in their dwellings, the same absence of taste and art and literature, the same distance from schools and churches and educated advisers, and—on account of the distance of tolerable mechanics, and the difficulty of moving without destruction, through such a rough country, anything elaborate or finely finished—the same make-shift furniture. There were, to be sure, ploughs