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Indianapolis, Marion County, Indiana
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An opinion piece calculates the high cost of emancipating four million Southern slaves at $300 each, totaling $1.2 billion, with Michigan's share at $33 million plus equal war debt, totaling $70 million burden including interest, arguing against the proposal amid ongoing Civil War funding needs.
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Abolitionists, in Congress and out of it, talk very flippantly of emancipating all the Southern slaves, and paying the slaveholders for them. Let us look at the figures of such a proposition.
There are four million slaves. The bill now in Congress, which proposes to abolish slavery in the District of Columbia, fixes the price to be paid by the General Government at three hundred dollars per head. At that rate the emancipation of all the Southern slaves would cost twelve hundred million dollars, without including the cost of carrying out the plan, or of disposing of the free negroes after emancipation. This sum, according to the Constitution, would have to be apportioned among the States according to population. As the white population of the United States, according to the census of 1860, was about twenty seven millions, and the population of Michigan three fourths of a million, the share for the citizens of Michigan to pay on this speculation would be about $33,333,333.
The indebtedness of the General Government, on closing the war account, will not be less than twelve hundred millions more, which would make the share of Michigan $33,333,333 more. Add to this our present State debt of three and a half millions, and we have the snug sum of seventy million dollars for the people of Michigan to pay, the annual interest of which at six per cent would be four million two hundred thousand dollars, beside paying all other State, county, town and school taxes.
As this is a small matter, why not go in for so reasonable proposition. Detroit Free Press?
According to this calculation the cost to the tax payers of Indiana for emancipating and "ransoming" the Southern slaves would be about sixty million dollars. To this add sixty million more for her portion of the public debt on account of the war expenditures, and it would make a total indebtedness of over one hundred and twenty million dollars. The annual interest upon this sum would be seven million two hundred thousand dollars, besides the State, county, township, city and school taxes.
Wouldn't That Be Fine?—Now when the Government are doing their best to raise funds for the prosecution of the war, wouldn't it be a bright idea to remit the tax on niggers, and tax for niggers the already overburdened working classes of the North?—Chicago Post.
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Location
United States, Michigan, Indiana, District Of Columbia
Event Date
1860
Story Details
Opinion piece critiques the financial cost of nationwide slave emancipation, using D.C. bill's $300 per slave rate to estimate $1.2 billion total, with state shares like $33 million for Michigan plus war debt, highlighting tax burden on Northern workers.