In his second inaugural address, President Lincoln expressed the sentiment, that, if it were God’s will for the war to continue “till the wealth piled up by two hundred and fifty years of unrequited toil of the bondmen be sunk, and every drop of blood drawn by the lash be repaid by another drawn by the sword, as it was said three thousand years ago, so must it still be said, ‘The judgments of the Lord are true and righteous altogether.’” This sentiment was prophetic, and ere the war ended the prophecy had been more than realized by literal fulfillment. Just see how it was fulfilled. Henry Clay once said that taking the slaves as they were—old and young, sick and disabled—the average value was about five hundred dollars per slave. The money value, at this estimate, of the four and a half million emancipated, would be two billion, two hundred and fifty million dollars. This amount, at ten per cent. interest for thirty years, or one generation, would yield, as value created by slave labor, six billion seven hundred and fifty million dollars, which amount, added to the market value of the slaves, makes the enormous sum of nine billion dollars, as representing the wealth “piled up by the unrequited toil of the bondmen,” and held by the oppressors in utter defiance of justice and right. Nine billion dollars! Can it be that amount was sunk in the war? The answer is yes, and at least six hundred and fifty million dollars more! I take the figures from a responsible source, and they are these: To put down the rebellion it cost the North four billion seven hundred million dollars. To sustain the rebellion it cost the South two billion seven hundred million dollars; add now to this the market value of the slaves emancipated, two billion two hundred and fifty million dollars, and we have, as the total, nine billion six hundred and fifty million dollars, which this nation spent in order to rid itself of the curse of slavery. That was the equation in dollars. As to the equation in blood, justice was even more severe in the exaction. Every drop of blood drawn by the lash, it is no exaggeration to say, exacted for its canceling, not a drop merely, but a stream. A million graves moistened by the blood of those who fell on the field of battle, to say nothing of the blood that ran from the bodies of the wounded millions who survived, gave fearful emphasis to the divine equation. The wealth piled up by the bondmen’s unrequited toil was sunk, and much more in addition; the blood drawn by the lash was more than canceled by the blood drawn by the sword, and still, even in the presence of these awful facts, we are compelled to say, “The judgments of the Lord are true and righteous altogether.”