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 Tables, to illustrate the fact, that the same law, by which slavery retarded the progress of wealth in Virginia, as compared with New York, and of Maryland and South Carolina, as compared with Massachusetts, rules the relative advance in wealth of all the Slave States, as compared with that of all the Free States. I have stated that the statistics of commerce, omitted in these tables, would vastly increase the difference in favor of the Free States as compared with the Slave States, and of New York as contrasted with Virginia. I shall now resume the latter inquiry, so as to complete the comparison between New York and Virginia. By commerce is embraced, in this examination, all earnings not included under the heads of agriculture, manufactures, the mines, or fisheries.