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It also provides for compensation； and generally the mode of making
it。 This； it would seem； must further mitigate the dissatisfaction
of those who favor perpetual slavery； and especially of those who are
to receive the compensation。 Doubtless some of those who are to pay
and not to receive will object。 Yet the measure is both just and
economical。 In a certain sense the liberation of slaves is the
destruction of propertyproperty acquired by descent or by purchase；
the same as any other property。 It is no less true for having been
often said that the people of the South are not more responsible for
the original introduction of this property than are the people of the
North； and when it is remembered how unhesitatingly we all use cotton
and sugar and share the profits of dealing in them； it may not be
quite safe to say that the South has been more responsible than the
North for its continuance。 If； then； for a common object this
property is to be sacrificed； is it not just that it be done at a
common charge？
And if with less money； or money more easily paid； we can preserve
the benefits of the Union by this means than we can by the war alone；
is it not also economical to do it？ Let us consider it； then。 Let
us ascertain the sum we have expended in the war Since compensated
emancipation was proposed last March； and consider whether if that
measure had been promptly accepted by even some of the slave States
the same sum would not have done more to close the war than has been
otherwise done。 If so； the measure would save money； and in that
view would be a prudent and economical measure。 Certainly it is not
so easy to pay something as it is to pay nothing； but it is easier to
pay a large sum than it is to pay a larger one。 And it is easier to
pay any sum when we are able than it is to pay it before we are able。
The war requires large sums； and requires them at once。 The
aggregate sum necessary for compensated emancipation of course would
be large。 But it would require no ready cash； nor the bonds even any
faster than the emancipation progresses。 This might not； and
probably would not； close before the end of the thirty…seven years。
At that time we shall probably have a hundred millions of people to
share the burden； instead of thirty…one millions as now。 And not
only so； but the increase of our population may be expected to
continue for a long time after that period as rapidly as before；
because our territory will not have become full。 I do not state this
inconsiderately。 At the same ratio of increase which we have
maintained； on an average； from our first national census； in 1790；
until that of 186o； we should in 1900 have a population of
103；208；415。 And why may we not continue that ratio far beyond that
period？ Our abundant room； our broad national homestead； is our
ample resource。 Were our territory as limited as are the British
Isles； very certainly our population could not expand as stated。
Instead of receiving the foreign born as now； we should be compelled
to send part of the native born away。 But such is not our condition。
We have 2；963；000 square miles。 Europe has 3；800；000； with a
population averaging 73 persons to the square mile。 Why may not our
country at some time average as many？ Is it less fertile？ Has it
more waste surface by mountains； rivers； lakes； deserts； or other
causes？ Is it inferior to Europe in any natural advantage？ If；
then； we are at some time to be as populous as Europe； how soon？ As
to when this may be； we can judge by the past and the present； as to
when it will be； if ever； depends much on whether we maintain the
Union。。。。。。。。。。。。。。。
＇a page of tables of projected statistics＇
These figures show that our country may be as populous as Europe now
is at some point between 1920 and 1930； say about 1925our
territory； at 73 persons to the square mile； being of capacity to
contain 217；186；000。
And we will reach this； too； if we do not ourselves relinquish the
chance by the folly and evils of disunion or by long and exhausting
war springing from the only great element of national discord among
us。 While it cannot be foreseen exactly how much one huge example of
secession； breeding lesser ones indefinitely； would retard
population； civilization； and prosperity； no one can doubt that the
extent of it would be very great and injurious。
The proposed emancipation would shorten the war； perpetuate peace；
insure this increase of population； and proportionately the wealth of
the country。 With these we should pay all the emancipation would
cost； together with our other debt； easier than we should pay our
other debt without it。 If we had allowed our old national debt to
run at six per cent。 per annum； simple interest； from the end of our
revolutionary struggle until to…day； without paying anything on
either principal or interest； each man of us would owe less upon that
debt now than each man owed upon it then； and this because our
increase of men through the whole period has been greater than six
per cent。has run faster than the interest upon the debt。 Thus time
alone relieves a debtor nation； so long as its population increases
faster than unpaid interest accumulates on its debt。
This fact would be no excuse for delaying payment of what is justly
due； but it shows the great importance of time in this connection
the great advantage of a policy by which we shall not have to pay
until we number 100；000；000 what by a different policy we would have
to pay now； when we number but 31；000；000。 In a word； it shows that
a dollar will be much harder to pay for the war than will be a dollar
for emancipation on the proposed plan。 And then the latter will
cost no blood； no precious life。 It will be a saving of both。
As to the second article； I think it would be impracticable to return
to bondage the class of persons therein contemplated。 Some of them；
doubtless； in the property sense belong to loyal owners； and hence
Provision is made in this article for compensating such。
The third article relates to the future of the freed people。 It does
not oblige； but merely authorizes Congress to aid in colonizing such
as may consent。 This ought nut to be regarded as objectionable on
the one hand or on the other； insomuch as it comes to nothing unless
by the mutual consent of the people to be deported and the American
voters through their representatives in Congress。
I cannot make it better known than it already is that I strongly
favor colonization； and yet I wish to say there is an objection urged
against free colored persons remaining in the country which is
largely imaginary； if not sometimes malicious。
It is insisted that their presence would injure and displace white
labor and white laborers。 If there ever could be a proper time for
mere catch arguments that time surely is not now。 In times like the
present men should utter nothing for which the