It is clear that thus vast
additional employment would be given to labor, freight to steamers,
railroads, and canals, markets for manufactures, and augmented revenue.
The homestead privilege will largely increase immigration. Now, beside
the money brought here by immigrants, the census proves that the average
annual value of the labor of Massachusetts, _per capita_, was, in 1860,
$300 for each man, woman, and child. Assuming that of the immigrants at
an average net annual value of only $100 each, or less than 33 cents a
day, it would make, in ten years, at the rate of 200,000 each year, the
following aggregate:
1st year, 200,000 = $20,000,000
2d " 400,000 " 40,000,000
3d " 600,000 " 60,000,000
4th " 800,000 " 80,000,000
5th " 1,000,000 " 100,000,000
6th " 1,200,000 " 120,000,000
7th " 1,400,000 " 140,000,000
8th " 1,600,000 " 160,000,000
9th " 1,800,000 " 180,000,000
10th " 2,000,000 " 200,000,000
-------------
Total, $1,100,000,000
In this table, the labor of all immigrants each year is properly added
to those arriving the succeeding year, so as to make the aggregate, the
last year, two millions. This would make the value of the labor of these
two millions of immigrants, in ten years, $1,100,000,000, independent of
the annual accumulation of capital, and the labor of the children of the
immigrants after the first ten years, which, with their descendants,
would go on constantly increasing.
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