Year: 1866

terests and the progress of their material
prosperity, it is nevertheless fact that this
feeling was deep-rooted in their hearts and
exerted it's influence upon their. conduct.
Itcontributed powerfully towards giving our
population the character of fxedness and
permanency. These causes furnish a sat-
isfactory explanation Of the fact, that so
large proportion OF our population were
retained on their native soil, although their
chief industrial pursuit had ceased to be
profitable, and although the greatest in
ducements were presented to them to emf
CRATE to other States The result has fol-
lowed-they have continued in debt.


. 1t is. impracticable to arrive alta strictly
accurate statement of the amount of their in
debtedness, or of its ratio to the aggregate
value of the property of the State. But l
think that result may be approximated
sufficiently accurate for the purpose Of my
argument. We had in this State before the
war, in round numbers, four hundred thou
sand slaves, which valued at seven hundred
dollars per head, which is below the average
of sales which then took place, amounted
to two hundred and eighty millions dollars.
The number ofacres Of land upon which
taxes are paid is, in round numbers, seven
teen millions, which valued at five dollars
per acre, which it is submitted is fair valu-
alton, amounts to eighty-fve millions dol
lars. This makes the aggregate value OF
these two items of property, amount to three
hundred and sixty-fve millions dollars. I
throw out Of the calculation the value Of all
other species of property, as unnecessary to
be taken into consideration, as they would
not change the result. tits more difficult
to state the amount of the Indebtedness of
the people from the want of statistics. My
opinion is that one third of the aggregate
value of the personal property is not too
high an estimate. Ny experience as law
yer in the settlement of estates has led me
to this conclusion, and it is confirmed by
statement furnished me from the records of
theOrdinary's Office Of the Districtin which /
live. Taking these data then as an ap-
proximation of the truth, how stands the
case? :, Before the war, the property Of the
State was sufficient to pay the debts of the
people and leave them two thirds of their
personal estates besides their lands. How
is it now since slavery has been abolished
and two hundred and eighty millions of
property confscated? do not take into
consideration the havoc which has been
played with other species of property, the
depreciation Of real estate and stocks of
all kinds, nor the waste and destruction OF
property during the war; the smoking ruins
of this one beautiful city and the desolating
track of the conqueror from. Savannah to
the North Carolina line. If all these were
taken in the account, the figures would be
still higher All that is left. to pay debts
with are the lands, which estimated at one
half of their average value before the war,
amount to forty-two millions dollars. We
have then the result-ninety. three millions
dollars of debts and forty-two millions dol
lars to pay with, that is to say, the property
left will not pay half the amount of the
debts. lam satisfied that these figures are
too favorable to the debtor class. Their
condition is even worse than I have repre-
sented it.


Now when we come to consider what will
be the fate of our people thus reduced to
poverty, as they will be, if they are forced
now to pay their debts, the mind is almost
overcome by the picture of distress and
misery that rises up in the future. We can
scarcely find parallel in modern history.
No conqueror in modern times has imposed
such contributions upon PROSTATE foe.
No Government in modern times has i'm
posed such heavy penalty upon an insur-
gent people. The partition of Poland, the
long and pitiless oppression Of Ireland, the
military despotism of Austria in Italy, are
great crimes in history, but I question
whether either of these has resulted in in
Aicting as great loss of property upon the
people as the results of the war have brought
upon us. The wealth Of our people consist
ed in negro property. It was property un-
der the constitution and laws, but with the
stroke of pen ithas been blotted out, and
we have submitted to the act, t,and all its con-
SEQUENCES, IN Iliad of woes, have been en-
tailed upon US and our children. One would
suppose that this sacrifice would have been
sufficient to satiate the revenge of even a
radical congress without other burdens and
penalties being imposed upon US.


have now shown, think, that the peo-
pie have just grounds for the appeals which
thev have made for Legislative interference
and relief; that they are right in the con-
clusion that the necessity exists for legisla-
tion to avert the progress of the evils which
threaten the destruction. of all their hopes Of
restoring the States to any measure of pros
peritv in the future. If debtors are to be
pursued in the usual way, that is to say,
sued, arrested, imprisoned, and their prop.
erty sacrificed at Sherif's sales, what will
follow? The immediate consequence will
be a vast deal of individual suffering. A
majority of our best citizens will be COM
PEELED to surrender their estates, and earn
- &c IL: /, lr