The Continental Monthly, Vol. 3, No. 1 January 1863, page 129 by Various Authors
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ow great was the advance in population of New York over Virginia, from 1790 to 1860, being in the ratio of more than 9 to 1. Now let us compare the relative progress of wealth. It is contended by the advocates of slavery, that it accumulates wealth more rapidly, and thus enriches the nation, although it may depress its moral and intellectual development, its increase of numbers and of power, and tarnish its reputation throughout the world. As population and its labor create wealth, it must be retarded by a system which, as we have seen in this case, diminishes the relative advance of numbers in the ratio of more than 9 to 1. But the census proves that slavery greatly retards the increase of wealth. By tables 33 and 36 of the census of 1860, it appears, omitting commerce, that the products of industry, as given, viz., of agriculture, manufactures, mines, and fisheries, were that year in New York $604,000,000, or $155 per capita; and in Virginia $120,000,000, or $75 per capita. This shows a total value of product in New York more than five times greater than in Virginia, and per capita, more than 2 to 1. If we include the earnings of commerce, and all business not given in the census, I think it will be shown hereafter, that the value of the products and earnings of New York, in 1860, exceeded those of Virginia at least 7 to 1. As to the rate of increase, the value of the products of agriculture, manufactures, mines, and fisheries of Virginia, in 1850, was $84,480,428 (table 9), and in New York $356,736,603, showing an increase in Virginia from 1850 to 1860 of $35,519,572, being 41 per cent., and in New York $247,263,397, being 69 per cent., exhibiting a difference of 28 per cent. Now the increase of population in Virginia from 1850 to 1860 was 12.29 per cent., and in New York 25.29 per cent., the difference being only 13 per cent. (Table 1, p. 131.) Thus, it appears, the increase of wealth in New York, exclusive of the gains of commerce, as compared with Virginia, was more than double th