the period, and it obliges no
two States to proceed alike. It also provides for compensation, and
generally the mode of making it. This, it would seem, must further
mitigate the dissatisfaction of those who favor perpetual slavery, and
especially of those who are to receive the compensation. Doubtless some
of those who are to pay and not to receive will object. Yet the measure
is both just and economical. In a certain sense the liberation of slaves
is the destruction of property--property acquired by descent or by
purchase, the same as any other property. It is no less true for having
been often said that the people of the South are not more responsible
for the original introduction of this property than are the people of
the North; and when it is remembered how unhesitatingly we all use
cotton and sugar and share the profits of dealing in them, it may not be
quite safe to say that the South has been more responsible than the
North for its continuance. If, then, for a common object this property
is to be sacrificed, is it not just that it be done at a common charge?

And if with less money, or money more easily paid, we can preserve the
benefits of the Union by this means than we can by the war alone, is it
not also economical to do it? Let us consider it, then. Let us ascertain
the sum we have expended in the war since compensated emancipation was
proposed last March, and consider whether if that measure had been
promptly accepted by even some of the slave States the same sum would
not have done more to close the war than has been otherwise done. If so,
the measure would save money, and in that view would be a prudent and
economical measure. Certainly it is not so easy to pay _something_ as it
is to pay _nothing_, but it is easier to pay a _large_ sum than it is to
pay a _larger_ one. And it is easier to pay any sum _when_ we are able
than it is to pay it _before_ we are able. The war requires large sums,
and requires them at once. The aggregate sum necessary for compensated
emancipation of course would be large. But it would require no ready
cash, nor the bonds even any faster than the emancipation progresses.
This might not, and probably would not, close before the end of the
thirty-seven years. At that time we shall probably have a hundred
millions of people to share the burden, instead of thirty-one millions
as now. And not only so, but the increase of our population may be
expected to continue for a long time afte