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their lives too poor to enjoy the comforts of life, or to incur the expenses necessary to improve their unprofitable farming. A man so situated may be said to be a slave to his own slaves. If the owner is industrious and frugal, he may be able to support the increasing numbers of his slaves, and to bequeath them undiminished to his children. But the income of few persons increases as fast as their slaves, and, if not, the consequence must be that some of them will be sold, that the others may be supported, and the sale of more is perhaps afterwards compelled to pay debts incurred in striving to put off that dreaded alternative. The slave at first almost starves his master, and at last is eaten by him—at least, he is exchanged for his value in food."

A large proportion of the negroes sold to these South-*western planters, then, had probably been bought by traders at forced sales in the older States, sales forced by merchants who had supplied the previous owners of the negroes, and who had given them credit, not on account of the productive value of their property as then situated, but in view of its cash value for sale, that is, of the value which it would realize when applied to cotton on the new soils of the South-west.

The planters of the South-west are then, in fact, supplying the deficit of Eastern production, taking their pay almost entirely in negroes. The free West fills the deficit of the free Eastern cereal production, but takes its pay in the manufactured goods, the fish, the oil, the butter, and the importations of the free East.

Virginia planters owning twenty to forty slaves, and nominally worth as many thousand dollars, often seem to live generously; but according to Northern standards, I do not think that the comforts and advantages for a rationally happy life, which they possess, compare with those of the average of Northern farmers of half that wealth. When they do, they must be either supplying slaves for the new cotton fields or living on credit—credit based on an anticipation of supplying that market.