Letter to John L Carey On the Subject of Slavery

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Who can contemplate such a probability and not feel the deepest regret ? Our taxes, now a burthen to the few, would be a mere circumstance to the many ; our state debt would in fact be comparative- ly nothing, and our credit would be as high as our honor deserves to have it. Land would be double its present value, and every man, from the manufacturer to the farmer, would feel his improved condition, and rejoice that all enjoyed alike.
What landed man does not now feel the depressed state of rea
...l property ^ We all see, v\dien a farm is offered for sale, how long it hangs in the market even at a moderate price ; a moment's reflection will explain the reason ; it is because there are so [ew purchasers, so few farmers and yeomen in the country to create a competi- tion for land, and hence too the want of life and enter- prise in the large slaveholding sections of our state. It is not the want of capital ; the land is the capital ; many owners would be glad to rent their fields to industrious, intelligent tenants if they could be found, confident that a rent could be obtained at least equal to their present profits, and assuredly with far less trouble and anxiety.

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