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A Case Supposed

A Case Supposed image
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StippoFe the Alassncljusetts L.cgislature at il g present session sii on !d enact thatalltlie dny labores, men and toornen, iil the State, shoiiiil on awi after tle first of Mare.1.1 nest. iiecornc slaves of ' lundholdtrs and capitalista. Supprse the mmkelahle val ui; of ihe laborers thus transieired, to bo 50.000,000. Ilcrc wonld br? a fine addition to tlie nominal property of the State. We cmild go into irlorioiip spocnlntions npon it and out do tlio?e of 133Ö - 7. In spite of President Tylcr's vetoe., with fifty mil!ion3 of new capital, we could bid dofifliicè tu "Iiard times." Uut let us look ot it. Labor is the only sonrce ofwcalth. Would the iraiisformation of free, hope-stimiiluttd men inio things iücronse thoir hbor ! Not a fraolion - the reverse ratheri Of course, then Ihe 50,000,000 of-luw cre;üed properiy would be nomina1 merely - a leprnl ficttnn - whoUy unn;al. Yet il would be added to the real property of the Stotc, it WQilid be made the basis of a!l but-ine.-s Iransnciinns, and enter into all estímales of property. What would be the effect? Speo ulation - ver -trading: of eourpe, to be foüowed bv cüsa-lrmis revulsión and bankruptcy. "We huve 8K-2OO,oOO, ofslave property," says Henry Clay, n 1839, "and what thelnw mnkes property. is s'.'' Not so Mr. Clay. All lhis slave property which the South boasls of is iinarnary- unreal asa drenm- worso t.'inn U.S. Bank stock. Yet the effect of thi.s imoginary wealth on the country is n diiaitrniis reoüty. By vuiue ofitthe Southern States nlways trade beynd tbeirmenns- bankruptcy followf - and the North loses hat she hos sold. Mointaining' a sysrem of ficiitiens cnyitul to the amount cf iicdvehvndred mildons of dollars, trading at the South is inevitable. The vvhole eystem of Tavety in whatevcr puint t is iooked ai, ■ al, political, fïnancial, is false, unnaturn} and in its teadencies "evil nd thal continually."


Signal of Liberty
Old News