‘The main support of slavery before the war, a support which will be strengthened rather than weakened at the end of the war, is that it is a condition of society in which “capital owns labor.” The thousands of colossal fortunes which this war has already created will find no better investment than buying up the lands of the rebel States. And, owning the land, the ownership of labor will speedily accrue to them. What defense can the landless, penniless, outlawed emancipado make against the land-monopolizing, monied, law-making capitalist – who says to him, work for this pittance or get you gone and starve! In free society, there is a perpetual conflict between labor and capital; the more nearly they are balanced, the more free the state of society, but when either gets the upper hand there is more or less of a slave society introduced. Generally, capital is predominant, because capital can wait, while labor cannot.
…How …easily could [capital] subsidize any of the one-horse legislatures of a reconstructed rebel State, so as to make things right about the freedmen. The word slavery will, of course, be wiped from the statute book …but the “ancient relation” can be just as well maintained by cunningly devised laws.’
~ James McCune Smith, ‘Letter to Robert Hamilton’ (August 1864)
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