'But, by the official returns (p. 14, Census), the number of alien
immigrants to the United States, from December, 1850, to December,
1860, was 2,598,216, or an annual average of 260,000.

'The effect, then, of this immigration, on the basis of the last
table, upon the increase of national wealth, was as follows:

1st year 260,000 = $26,000,000
2d " 520,000 = 52,000,000
3d " 780,000 = 78,000,000
4th " 1,040,000 = 104,000,000
5th " 1,300,000 = 130,000,000
6th " 1,560,000 = 156,000,000
7th " 1,820,000 = 182,000,000
8th " 2,080,000 = 208,000,000
9th " 2,340,000 = 234,000,000
10th " 2,600,000 = 260,000,000
--------------
Total, $1,430,000,000

'Thus, the value of the labor of the immigrants, from 1850 to 1860,
was $1,430,000,000, making no allowance for the accumulation of
capital, by annual reinvestment, nor for the natural increase of
this population, amounting, by the Census, in ten years, to about
twenty-four per cent. This addition to our wealth, by the labor of
the children, in the first ten years, would be small; but in the
second and each succeeding decade, when we count children, and
their descendants, it would be large and constantly augmenting. But
the Census shows that our wealth increases each ten years at the
rate of 126.45 per cent. (Census Table 35.) Now, then, take our
increase of wealth, in consequence of immigration, as before
stated, and compound it at the rate of 126.45 per cent. every ten
years, and the result is largely over $3,000,000,000 in 1870, and
over $7,000,000,000 in 1880, independent of the effect of any
immigration succeeding 1860. If these results are astonishing, we
must remember that immigration here is augmented population, and
that it is population and labor that create wealth. Capital,
indeed, is but the accumulation of labor. Immigration, then, from
1850 to 1860, added to our national products a sum more than double
our whole debt on the 1st of July last, and augmenting in a ratio
much more rapid than its increase, and thus enabling us to bear the
war expenses.'

As the homestead privilege must largely increase immigration, and add
especially to the cultivation of our soil, it will contribute vastly to
increase our population, wealth, and powe