Lincoln; An Account of his Personal Life, Especially of its Springs of Action as Revealed and Deepened by the Ordeal of War by Nathaniel W. (Nathaniel Wright) Stephenson
page 65 of 435 (14%)
page 65 of 435 (14%)
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though informal, an existence as has the Steel Trust or the Beef
Trust in our own time. This powerful interest allied itself with the capitalists of the Northeast. In modern phraseology, they aimed to "finance" the slave interest from New York. And for a time the alliance succeeded in doing this. The South went entirely upon credit. It bought and borrowed heavily in the East New York furnished the money. Had there been nothing further to consider, the invasion of the Senate by Big Business in the 'fifties might not have taken place. But there was something else. Slavery's system of agriculture was excessively wasteful. To be highly profitable it required virgin soil, and the financial alliance demanded high profits. Early in the 'fifties, the problem of Big Business was the acquisition of fresh soil for slavery. The problem entered politics with the question how could this be brought about without appearing to contradict democracy? The West also had its incipient Big Business. It hinged upon railways. Now that California had been acquired, with a steady stream of migration westward, with all America dazzled more or less by gold-mines and Pacific trade, a transcontinental railway was a Western dream. But what course should it take, what favored regions were to become its immediate beneficiaries? Here was a chance for great jockeying among business interests in Congress, for slave-holders, money-lenders, railway promoters to manipulate deals to their hearts' content. They had been doing so amid a high complication of squabbling, while Douglas was traveling in Europe during 1853. When he returned late in the year, the unity of the Democratic machine in Congress was endangered by these disputes. Douglas at once attacked the problem of party harmony. He threw himself into the task with all his characteristic quickness, all his energy and resourcefulness. |
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