As generations passed
and workingmen multiplied in America, the system of indentures for white
immigrants was automatically dissolved; but slavery for the bulk of the
negroes persisted as an integral feature of economic life. Whether this
was conducive or injurious to the prosperity of employers and to the
community's welfare became at length a question to which students far and
wide applied their faculties. Some of the participants in the discussion
considered the problem as one in pure theory; others examined not only the
abstract ratio of slave and free labor efficiency but included in their
view the factor of negro racial traits and the prospects and probable
consequences of abolition under existing circumstances. On the one point
that an average slave might be expected to accomplish less in an hour's
work than an average free laborer, agreement was unanimous; on virtually
every other point the views published were so divergent as to leave the
public more or less distracted. Adam Smith, whose work largely shaped the
course of economic thought for a century following its publication in 1776,
said of slave labor merely that its cost was excessive by reason of its
lack of zest, frugality and inventiveness.
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