Judge Jeremiah S. Black, in a paper written in response to a memorial address on William H. Seward, said: "The Southern people sprang from a race accustomed for two thousand years to dominate over all other races with which it came in contact. They supposed themselves greatly superior to negroes, most of them sincerely believing that if they and the African must live together, the best and safest relations that could be established between them was that of master and servant.... Some of them believed slavery a dangerous evil, but did not see how to get rid of it. They felt as Jefferson did, that they had the wolf by the ears: they could neither hold on with comfort nor let go with safety, and it made them extremely indignant to be goaded in the rear. In all that country from the Potomac to the Gulf there was probably not one man who felt convinced that this difficult subject could be determined for them by strangers and enemies; seeing that we in the North had held fast to every pound of human flesh we owned, and either worked it to death or sold it for a price, our provision for the freedom of unborn negroes did not tend much to their edification. They had no confidence in that 'ripening' influence of humanity which turned up the white of its eyes at a negro compelled to hoe corn and pick cotton, and yet gloated over the prospect of insurrection and massacre." Further, emancipation was a question of figures as well as feeling. The loss of four millions of slaves, at an average value of six hundred dollars each, constituted in the aggregate a sacrifice too vast to be contemplated for a moment. Yet this was but a single item. The cotton crop of 1860 was worth the round sum of a hundred and ninety-eight million dollars, while that of 1859 was worth two hundred and forty-seven million dollars, and the demand still in excess of the supply. It formed the bulk of our exchanges with Europe; paid our foreign indebtedness; maintained a great marine; built towns, cities, and railways; enriched factors, brokers, and bankers; filled the federal treasury to overflowing, and made the foremost nations of the world commercially our tributaries and politically our dependants. A short crop embarrassed and distressed all western Europe; a total failure, a war, or non-intercourse, would reduce whole communities to famine, and probably precipitate them into revolution. It was an opinion generally received, and scarcely questioned anywhere, that cotton-planting could be carried on only by African labor, and that African labor was possible only under compulsion. Here, then, was another item of loss, which, being prospective, could neither be measured by statistics nor computed in figures. Add to this the sudden conversion of millions of producers into mere consumers, the depreciation of real estate, the depreciation of stocks and securities as of banks and railways, dependent for their value upon the inland commerce in the products of slave-labor, with the