Our new government is founded upon exactly the opposite idea; its foundations are laid, its corner–stone rests, upon the great truth that the negro is not equal to the white man; that slavery — subordination to the superior race — is his natural and normal condition.
...asserts that the government of the United States and of states within that government had failed to uphold their obligations to South Carolina. The specific issue stated was the refusal of some states to enforce the Fugitive Slave Act and clauses in the US Constitution protecting slavery and the federal government's perceived role in attempting to abolish slavery.
The next section states that while these problems have existed for twenty-five years, the situation had recently become unacceptable due to the election of a President (this was Abraham Lincoln although he is not mentioned by name) who was planning to outlaw slavery.
While later claims have been made that the decision to secede was prompted by other issues such as tariffs, these issues were not mentioned in the declaration. The primary focus of the declaration is the perceived violation of the Constitution by northern states in not extraditing escaped slaves (as the Constitution required in Article IV Section 2) and actively working to abolish slavery (which they saw as Constitutionally guaranteed and protected). The main thrust of the argument was that since the Constitution, being a contract, had been violated by some parties (the northern abolitionist states), the other parties (the southern slave-holding states) were no longer bound by it.
The language of the S.C. Declaration is so straightforward, so unambiguous that it is difficult to comprehend that there ever could have been any disagreement over what drove South Carolina to secede. So before any more breath is wasted in arguing about just what our state will be commemorating on Monday, we are reprinting the Declaration on this page. We would urge anyone who doubts that our state seceded in order to preserve slavery — or, for that matter, anyone who has come to accept the fiction that slavery was merely one of several cumulative causes — to read this document.
By 1860 there were approximately 4,000,000 slaves in the United States, the second largest slave society--slave population--in the world. The only one larger was Russian serfdom. Brazil was close.
But in 1860 American slaves, as a financial asset, were worth approximately three and a half billion dollars--that's just as property. Three and a half billion dollars was the net worth, roughly, of slaves in 1860. In today's dollars that would be approximately seventy-five billion dollars. In 1860 slaves as an asset were worth more than all of America's manufacturing, all of the railroads, all of the productive capacity of the United States put together. Slaves were the single largest, by far, financial asset of property in the entire American economy. The only thing worth more than the slaves in the American economy of the 1850s was the land itself, and no one can really put a dollar value on all of the land of North America. If you're looking to begin to understand why the South will begin to defend this system, and defend this society, and worry about it shrinking, and worry about a political culture from the North that is really beginning to criticize them, think three and a half billion dollars and the largest financial asset in American society, and what you might even try to compare that to today.
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