Inquiry Into the Causes Which Have Retarded the Accumulation of Wealth And Incre
Inquiry Into the Causes Which Have Retarded the Accumulation of Wealth And Incre
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It is mentione'd that a factory in Alabama em- ploys thirty laborers, fifteen of whom are slaves belonging to the proprietors. The capital is thirty thousand dollars, ($30, 000). If the fifteen slaves are of the average value of $600 each, they are aggregately worth $9, 000, which, deducted from the whole invest- ment, leaves twenty-one thousand dollars, ($'21, 000), for the pro- ductive capital employed. If none but slaves were employed, then their value would be eighteen thousand dollars, ($1...8, 000), which IS more than half the capital stock.
I have not been able to find a distinction drawn in the accounts 15 ol'the production of sugar, between the value of slaves and of real and other capital invested. But it is staled that the whole capital engaged in the production of sugar, in 1840, was fifty millions of doflars, ($50, 000, 000); and that fifty thousand slaves of all ages are employed on the estates. Suppose the slaves to be worth $400 each, their aggregate value will be twenty millions, ($20, 000, 000), which is an unproductive capital.
What to read after Inquiry Into the Causes Which Have Retarded the Accumulation of Wealth And Incre?
You can find similar books in the "Read Also" column, or choose other free books by Daniel Reaves Goodloe to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
It is mentione'd that a factory in Alabama em- ploys thirty laborers, fifteen of whom are slaves belonging to the proprietors. The capital is thirty thousand dollars, ($30, 000). If the fifteen slaves are of the average value of $600 each, they are aggregately worth $9, 000, which, deducted from the whole invest- ment, leaves twenty-one thousand dollars, ($'21, 000), for the pro- ductive capital employed. If none but slaves were employed, then their value would be eighteen thousand dollars, ($1...8, 000), which IS more than half the capital stock.
I have not been able to find a distinction drawn in the accounts 15 ol'the production of sugar, between the value of slaves and of real and other capital invested. But it is staled that the whole capital engaged in the production of sugar, in 1840, was fifty millions of doflars, ($50, 000, 000); and that fifty thousand slaves of all ages are employed on the estates. Suppose the slaves to be worth $400 each, their aggregate value will be twenty millions, ($20, 000, 000), which is an unproductive capital.
What to read after Inquiry Into the Causes Which Have Retarded the Accumulation of Wealth And Incre?
You can find similar books in the "Read Also" column, or choose other free books by Daniel Reaves Goodloe to read onlineMoreLess
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