The examiner. [volume] (Louisville, Ky.) 1847-1849, 1847-06-26
leave the shareholders capital iisAt hundred
thousand dollars 1880, O00) gfeater than


hat Of the Saco company.
| have here supposed that ailave will d.
m equal amount Of labor witlla freeman
xhile the experience Of men ID every de
,artment Of industry proves u contrary
It has grown into proverb in d. Southern
States, that the labor Of wkite man i
worth that Of two slaves. AZ Nat rate, i
would require large add,tion sapthe abov,
stimate Of the capital necessary 10 carry o.
manufacturing with slave labot II 10 tn
;mplsst agricultural oPerationithere exs,
UGH disparity in the efficiency Of free AM
lave labor, it must, in the natu(p OF things
'e still greater where skill and tntellieenc.
IRE requisite, as is the case in manufactures
'uppos;ns it practicable to employ slaves
Extensively in manufacturing, i viii hene,
&c necessary to procure the mos inselligen
md faithful, and consequently such as com
aand the highest prices. But netwiths and
ng that 50 large capital is reasary t
mploy slaves in manufacture, IN invest
aen, Of that kind may yet be profitable
The excess Of capital, which consists in thu
alue OF the slaves, though It produces 10 h
ng saves the payment Of wages. 1t may
n that way, yield as large dividend to the
>wner as bis other investment. However
ind, BY Mr.. Walkers report, tha, Southern
manufacturers almost invariably use hiret
abor-fIee generally, no doubt.
1t is not my purpose to show tina. manu-
acturing at the South is imp a:ticab'e: Or
he contrary, ! incline to believe that tn
oarser fabrics may he made there with mucl
advantage TO the capitalists and to the com
nunity. But the fact that slavery absorb
ne great bulk Of Southern capital must al
Ways present an obstacle to extensive opera
ons. So it is with commerce and all tho
'ther interests. They always exhibit 2
lwarfed or deiormed appearance in compar
son with occupations in free countries
wen agriculture, which is more prof.abl,
n the South than almost anywhere in thu
world. is conducted in the wcrst way i'm
lgineablc. Slavery sits like the Old Mar
# the Sea upon the necks Of the people,
'aralyzing every effort at improvement. Thi.
shall show, in another place, is not, as i
ommonly supposed, attributable to inert
less or Incidence, but TO slavery, as an un-
productive ab:o ben, II capital
Mr.. Enoch Hews is tobacco, snuff, ant'
eear manufacturer. In reply to question
our and five, he states his capital at thirty
thousand dollars, S3o, 900, Of which twer .
y thousand is permanent, and ten thousan,
lsed in the purchase Of materials and III,
payment of wages. He employs one hun
lred persons. mostly females One hun
ired slaves of similar ages, would be OF tht
average value Of $500 each, or sixty thou
sand in the aggregate. Add TO il the capita
invested by Mr.. Hews, and ninety thouslnd
dollars will he the sum necessary to conduc
l similar establishment with slave labor
The sum is however subject TO some aba,e-
nent. for the reason stated in the preceding
rase viz: shot the employer Of slave labo
s exempt from the charge OF wages. This
TEN, however, would not exceed two OF
t Tree thousand dollars.
Mr.. Calvin J. Mills states, in answer to
question fourth, that the capital at the Eagle
rurnace, at Buffalo, New York, invested in
buildings and machinery. is thirty-five thou
sand dollars, (s35, 00o)-,hat expended u
wages fifteen thousand dollars, (s15, 900.
The fXe: capital, together with the bushes
capital absorbed in year, is eighty thou
sand dollars. (sso,OOO.) But in answer to
he thirty third question, Nj. Mills states
that the capital of the company Is fifty thou
sand dollars, (s50,00O.) He ev.den,l,
between the whole bushes
capital absorbed in year, and that porto,
Of it which is necessary to keep on hand
any one time. This is the case to which
referred in speaking OF the Saco company
| have little doubt that the sum set dowr
there as the business capital, embraces til,
whole amount expended in year. Ac
cording to the statement Of Mr.. Mills, tn,
current outlay in materials and wages !:
three times greater than the amount Of cas-
necessary at one time. II similar aba,e
.nent is to be made in the other cases, it !.
evident that have not presented the cues
ton in its strongest light
Mr.. Mills states that the Eagle Furnace
employs eighty men, a, al so per day
Slaves, possessing equal skill, would not be
worth less than $500 each, at present prices
and aggregately, seventy-two thousand dol
lars, (s72,O00.) Hence, il we allow tina
the employer Of free labor need $1,000 in
ready cash, to pay wages, an establishment
Of equal extent, using slave labor, will re
quire capital Of one hundred and fifteen
thousand dollars, (s115,0O0.)
But | deem it useless to multiply instan
ces, as any one who wishes to examine the
subject further may do SO by referring to
the Secretary's report. have searched in
vain for a case where slaves were exclusive
ly employed in a manufacturing establish
ment in the Southern States, in order that
might present the subject under another as
pact. 1t is mentioned that factory in Al
ALBANIA employs thirty laborers. fifteen o
whom are slaves belonging to the Proprie
tors. The capital is thirty thousand dol
lars, (s3O,OOO.) II the fifteen slaves arr
of the average value Of 5000 each, they
are aggregately worth $4,000, which, deduc
ted from the whole investment, leaves TWEEN
ty -one thousand dollars, tS21, O0o) for tn,
productive capital employed. If none ba
slaves were employed, their value woillt
be eighteen thousand dollars. (s1s,0J0,
which is more than half the capital stock.
have not been able to find distincSor
drawn in the accounts Of the production o
sugar, between the value Of slaves and o
real and other capitals invested. But it i
stated that the whole capital engaged in TIL
production Of sugar, in 18iO, was fifty mil
lions Of dollars, 1850, 0O0, O00;) and tina