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bonds　so　received；　or　the　value　thereof；　and　all　interest　paid

thereon。



ART。All　slaves　who　shall　have　enjoyed　actual　freedom　by　the　chances

of　the　war　at　any　time　before　the　end　of　the　rebellion　shall　be

forever　free；　but　all　owners　of　such　who　shall　not　have　been　disloyal

shall　be　compensated　for　them　at　the　same　rates　as　is　provided　for

States　adopting　abolishment　of　slavery；　but　in　such　way　that　no　slave

shall　be　twice　accounted　for。



ART。Congress　may　appropriate　money　and　otherwise　provide　for

colonizing　free　colored　persons　with　their　own　consent　at　any　place

or　places　without　the　United　States。



I　beg　indulgence　to　discuss　these　proposed　articles　at　some　length。

Without　slavery　the　rebellion　could　never　have　existed；　without

slavery　it　could　not　continue。



Among　the　friends　of　the　Union　there　is　great　diversity　of　sentiment

and　of　policy　in　regard　to　slavery　and　the　African　race　amongst　us。

Some　would　perpetuate　slavery；　some　would　abolish　it　suddenly　and

without　compensation；　some　would　abolish　it　gradually　and　with

compensation；　some　would　remove　the　freed　people　from　us；　and　some

would　retain　them　with　us；　and　there　are　yet　other　minor　diversities。

Because　of　these　diversities　we　waste　much　strength　in　struggles

among　ourselves。　　By　mutual　concession　we　should　harmonize　and　act

together。　　This　would　be　compromise；　but　it　would　be　compromise　among

the　friends　and　not　with　the　enemies　of　the　Union。　　These　articles

are　intended　to　embody　a　plan　of　such　mutual　concessions。　　If　the

plan　shall　be　adopted；　it　is　assumed　that　emancipation　will　follow；

at　least　in　several　of　the　States。



As　to　the　first　article；　the　main　points　are；　first；　the

emancipation；　secondly；　the　length　of　time　for　consummating　it

（thirty…seven　years）；　and；　thirdly；　the　compensation。



The　emancipation　will　be　unsatisfactory　to　the　advocates　of　perpetual

slavery；　but　the　length　of　time　should　greatly　mitigate　their

dissatisfaction。　　The　time　spares　both　races　from　the　evils　of　sudden

derangementin　fact；　from　the　necessity　of　any　derangementwhile

most　of　those　whose　habitual　course　of　thought　will　be　disturbed　by

the　measure　will　have　passed　away　before　its　consummation。　　They　will

never　see　it。　　Another　class　will　hail　the　prospect　of　emancipation；

but　will　deprecate　the　length　of　time。　　They　will　feel　that　it　gives

too　little　to　the　now　living　slaves。　　But　it　really　gives　them　much。

It　saves　them　from　the　vagrant　destitution　which　must　largely　attend

immediate　emancipation　in　localities　where　their　numbers　are　very

great；　and　it　gives　the　inspiring　assurance　that　their　posterity

shall　be　free　forever。　　The　plan　leaves　to　each　State　choosing　to　act

under　it　to　abolish　slavery　now　or　at　the　end　of　the　century；　or　at

any　intermediate　tune；　or　by　degrees　extending　over　the　whole　or　any

part　of　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　propertyproperty　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　after　that　period　as　rapidly　as　before；

because　our　territory　will　not　have　become　full。　　I　do　not　state　this

inconsiderately。　　At　the　same　ratio　of　increase　which　we　have

maintained；　on　an　average；　from　our　first　national　census；　in　1790；

until　that　of　186o；　we　should　in　1900　have　a　population　of

103；208；415。　　And　why　may　we　not　continue　that　ratio　far　beyond　that

period？　　Our　abundant　room；　our　broad　national　homestead；　is　our

ample　resource。　　Were　our　territory　as　limited　as　are　the　British

Isles；　very　certainly　our　population　could　not　expand　as　stated。

Instead　of　receiving　the　foreign　born　as　now；　we　should　be　compelled

to　send　part　of　the　native　born　away。　　But　such　is　not　our　condition。

We　have　2；963；000　square　miles。　　Europe　has　3；800；000；　with　a

population　averaging　73　persons　to　the　square　mile。　　Why　may　not　our

country　at　some　time　average　as　many？　　Is　it　less　fertile？　　Has　it

more　waste　surface　by　mountains；　rivers；　lakes；　deserts；　or　other

causes？　　Is　it　inferior　to　Europe　in　any　natural　advantage？　　If；

then；　we　are　at　some　time　to　be　as　populous　as　Europe；　how　soon？　　As

to　when　this　may　be；　we　can　judge　by　the　past　and　the　present；　as　to

when　it　will　be；　if　ever；　depends　much　on　whether　we　maintain　the

Union。。。。。。。。。。。。。。。



＇a　page　of　tables　of　projected　statistics＇



These　figures　show　that　our　country　may　be　as　populous　as　Europe　now

is　at　some　point　between　1920　and　1930；　say　about　1925our

territory；　at　73　persons　to　the　square　mile；　being　of　capacity　to

contain　217；186；000。



And　we　will　reach　this；　too；　if　we　do　not　ourselves　relinquish　the

chance　by　the　folly　and　evils　of　disunion　or　by　long　and　exhausting

war　springing　from　the　only　great　element　of　national　discord　among

us。　　While　it　cannot　be　foreseen　exactly　how　much　one　huge　example　of

secession；　breeding　lesser　ones　indefinitely；　would　retard

population；　civilization；　and　prosperity；　no　one　can　doubt　that　the

extent　of　it　would　be　very　great　and　injurious。



The　proposed　emancipation　would　shorten　the　war；　perpetuate　peace；

insure　this　increase　of　population；　and　proportionately　the　wealth　of

the　country。　　With　these　we　should　pay　all　the　emancipation　would

cost；　together　with　our　other　debt；　easier　than　we　should　pay　our

other　debt　without　it。　　If　we　had　allowed　our　old　national　debt　to

run　at　six　per　cent。　per　annum；　simple　interest；　from　the　end　of　our

revolutionary　struggle　until　to…day；　without　paying　anything　on

either　principal　or　interest；　each　man　of　us　would　owe　less　upon　that

debt　now　than　each　man　owed　upon　it　then；　and　this　because　our

increase　of　men　through　the　whole　period　has　been　greater　than　six

per　cent。has　run　faster　than　the　interest　upon　the　debt。　　Thus　time

alone　relieves　a　debtor　nation；　so　long　as　its　population　increases

faster　than　unpaid　interest　accumulates　on　its　debt。



This　fact　would　be　no　excuse　for　delaying　payment　of　what　is　justly

due；　but　it　shows　the　great　importance　of　time　in　this　connection

the　great　advantage　of　a　policy　by　which　we　shall　not　have　to　pay

until　we　number　100；000；000　what　by　a　different　policy　we　would　have

to　pay　now；　when　we　number　but　31；000；000。　　In　a　word；　it　shows　that

a　dollar　will　be　much　harder　to　pay　for　the　war　than　will　be　a　dollar

for　emancipation　on　the　proposed　plan。　　　And　then　the　latter　will

cost　no　blood；　no　precious　life。　　It　will　be　a　saving　of　both。



As　to　the　second　article；　I　think　it　would　be　impracticable　to　return

to　bondage　the　class　of　persons　therein　contemplated。　　Some　of　them；

doubtless；　in　the　property　sense　belong　to　loyal　owners；　and　hence

Provision　is　made　in　this　article　for　compensating　such。



The　third　article　relates　to　the　future　of　the　freed　people。　　It　does

not　oblige；　but　merely　authorizes　Congress　to　aid　in　colonizing　such

as　may　consent。　　This　ought　nut　to　be　regarded　as　objectionable　on

the　one　hand　or　on　the　other；　insomuch　as　it　comes　to　nothing　unless

by　the　mutual　consent　of　the　people　to　be　deported　and　the　American

voters　through　their　representatives　in　Congress。



I　cannot　make　it　better　known　than　it　already　is　that　I　strongly

favor　colonization；　and　yet　I　wish　to　say　there　is　an　objection　urged

against　free　colored　persons　remaining　in　the　country　which　is

largely　imaginary；　if　not　sometimes　malicious。



It　is　insisted　that　their　presence　would　injure　and　displace　white

labor　and　white　laborers。　　If　there　ever　could　be　a　proper　time　for

mere　catch　arguments　that　time　surely　is　not　now。　　In　times　like　the

present　men　should　utter　nothing　for　which　they　would　not　willingly

be　responsible　t