Another take from the Atlantic.com:
"Newly
released letters reveal that Abraham Lincoln considered trying to halt the war by buying slaves from the South for $400 apiece.
It would have been a pricey time for Lincoln to go bullish. At the time of the Civil War, one slave cost as much as five oxen. Nowadays in India, it's down to about five slaves per
one ox, the result of a long decline in the price of human chattel.
Try to buy a slave today, and you could end up either
behind bars, or
feted after you "redeem" the slave (for what? cash and prizes?), or
criticized for creating demand for more slaves. Nearly all human-rights organizations
advise against buying other human beings. But the economics of buying slaves out of bondage turns out to be complex, with
serious economists suggesting that the practice is not entirely insane. Inelastic supply -- there just aren't many potential slaves out there -- makes slave-buying at worst a way to slow the rate at which slavers replace their inventory.
Lincoln's slave-buying gambit was actually a
carefully mulled plan, and even though he ultimately rejected it, his pondering the possibility speaks to his fitness for the job of chief executive. He recognized the moral imperative to free slaves, and considered slave-buying only while stipulating that the Southern states abolish slavery soon after. He calculated the problem economically, too, noting the huge hit the Treasury would take, and comparing the cost of slave-buying to the enormous human and monetary cost of the ongoing Civil War. In the end, it's not surprising that he scrapped the plan and went ahead with emancipation six months later. Virginia alone had 491,000 slaves, and it would have been unfeasible to buy and free
40 percent of a state's population. But the whole incident makes one long for a time when presidents thought
creatively and
ethically about hard problems, rather than just doing the same **** thing over and over again, and expecting different results. — Graeme Wood "
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