intervallo_) of all the States,
has fallen to the fifth, and, with slavery continued, will descend still
more rapidly in the future than in the past.

By Census Table 36, p. 197, the value, in 1860, of the farm lands of all
the Slave States, was $2,570,466,935, and the number of acres
245,721,062, worth $10.46 per acre. In the Free States, the value of the
farm lands was $4,067,947,286, and the number of acres 161,462,008,
worth $25.19 per acre. Now if, as certainly in the absence of slavery
would have been the case, the farm lands of the South had been worth as
much per acre as those of the North, their total value would have been
$6,189,713,551, and, deducting the present price, the _additional_ cash
value would have been $3,619,246,616.

But if, to this, we add the _increased_ value of the _unoccupied_ lands
of the South, by multiplying them by the difference between their value
per acre and that of the _unoccupied_ lands of the North, the result is
$2,240,000,000, which, added to that of the farm lands, makes
$5,859,246,616, as the augmented value of the lands of the South caused
by emancipation.

By Census Tables of 1860, 33 and 36, the total value of the products of
agriculture, manufactures, mines, and fisheries in the Free States was
$4,150,000,000, and of the Slave States $1,140,000,000, making the
products of the Free States in 1860 nearly 4 to 1 of the Slave States,
and $217 _per capita_ for the Free States, and for the Slave States $93
_per capita_. This is exclusive of commerce, which would greatly
increase the ratio in favor of the North, that of New York alone being
nearly equal to that of all the Slave States. Now, multiplying the
population of the Slave States by the value of the products _per capita_
of the Free States, and the result is $2,653,631,032, making, by
emancipation, the increased annual product of the Slave States
$1,511,031,032, and in ten years, exclusive of the yearly accumulations,
$15,110,310,320.

By the Table 35, Census of 1860, the total value of all the property,
real and personal, of the Free States, was $10,852,081,681, and of the
Slave States, $5,225,307,034. Now, the product, in 1860, of the Free
States, being $4,150,000,000, the annual yield on the capital was 39 per
cent.; and, the product of the Slave States being $1,140,000,000, the
yield on the capital was 22 per cent. This was the gross product in both
cases. I have worked out these amazing results from the Census Ta