accounts for England's ability
to pay the interest on her national debt, and yet increase her wealth.
She effects it all by the immense profits of the exploitation of her
skill and capital; by the power which they give her to command labor,
and appropriate its results, without consideration, or for a very
partial consideration. She trades with the world, and exploitates it
all, except France. France sets the fashion, and this enables her to
exploitate England. England, in her trade with France, has to pay for
French fashions as well as French labor. In other words, France
possesses superior skill, and exploitates England by means of it. Labor,
not skill, is the just and equitable measure of values.

America sends her cotton, her surplus grain and meats, and other
agricultural products, and her California gold, to England, and gets
worseand the
    whole spawn of errors which infest us, do not find subjects at the
    South. There is far more faith in the South, taken as a whole,
    than with us. Many things which we feel called to preach against
    here are confined to the boundaries of the Free States; yet the
    white population are readers of books, though not of newspapers,
    perhaps more generally than we. That vast amount of active but
    uninstructed mind with us, which seizes every new thing, and
    follows brilliant or specious error, and erects a folly into a
    doctrine with a sect annexed, and so