In this statement, John H. Reagan discusses the economic value of enslaved people in the Southern United States during a particular historical period. He mentions that the population in the South owns nearly five million African Americans who were held as slaves and estimates their collective worth at around three million dollars.
The deep meaning behind Reagan's quote reveals much about the societal and economic structures of pre-Civil War America. It underscores the significant role slavery played not just in social dynamics but also in the economy, illustrating how enslaved individuals were viewed primarily as assets and commodities rather than human beings with inherent rights and dignity. This perspective was foundational to the Southern economy at the time, where the labor and lives of enslaved people were integral to maintaining wealth and power within white slaveholding communities.
John H. Reagan was a prominent figure in Texas politics during the mid-19th century. He served as the United States Postmaster General under President James Buchanan before becoming a key member of the Confederacy's government, holding positions such as Secretary of the Treasury for the Confederate States of America and later serving as a Senator from Texas after Reconstruction. His views on slavery were in line with those who saw it as an economic necessity rather than a moral issue.
