Robert Carter in which she
expressed an opinion, endorsed by Fithian, "that if in Mr. Carter's or in
any gentleman's estate all the negroes should be sold and the money put to
interest in safe hands, and let the land which the negroes now work lie
wholly uncultivated, the bare interest of the price of the negroes would be
a much greater yearly income than what is now received from their working
the lands, making no allowance at all for the trouble and risk of the
masters as to crops and negroes."[82] In 1824 John Randolph said: "It is
notorious that the profits of slave labor have been for a long time on the
decrease, and that on a fair average it scarcely reimburses the expense of
the slave," and concluded by prophesying that a continuance of the tendency
would bring it about "in case the slave shall not elope from his master,
that his master will run away from him."[83] In 1818 William Elliott
of Beaufort, South Carolina, had written that in the sea-island cotton
industry for a decade past the high valuations of lands and slaves had been
wholly unjustified. On the one hand, said he, the return on investments
was extremely small; on the other, it was almost impossible to relieve an
embarrassed estate by the sale of a part, for the reduction of the scale of
operations would cause a more than proportionate reduction of income.
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