An Account stated on the manumission of slaves, shewing, that in lieu of the usual security required, certain sums paid at several periods of manumission, will amply secure the publick, as well as their owners from any future burden.

An Account stated on the manumission of slaves, shewing, that in lieu of the usual security required, certain sums paid at several periods of manumission, will amply secure the publick, as well as their owners from any future burden.

Table of contents

AN ACCOUNT STATED ON THE MANUMISSION OF SLAVES,

[Page]

AN ACCOUNT STATED ON THE MANUMISSION OF SLAVES,

Shewing, that in Lieu of the usual Security required, certain Sums paid at several Periods of Manumission, will amply secure the PUBLICK, as well as their Owners from any future Burden.

THE following calculations are formed on a supposition, that on an average, people do not become incapable of supporting themselves, until they are 60 years of age—that of 10 negroes set free at 21 years of age, 6 of them die before they exceed their 60th year—that the remaining 4 live to the age of 72 years—that only one fourth part of these survivors ever become a publick charge—and that for the last 12 years, the sum of £.10 per annum will be sufficient for his or her maintenance.

THAT we may be much within bounds, we have allowed that more than nine Negroes out of the seventy may become chargeable, though among the whites we find that not one in fifty of thosse who depend on their labour for subsistence, are supported by the publick.

[Page]

If 10 are set free at the age of 21 years, according to the bills of mortality, 6 of them will die before the age of 60 years, therefore |
To one fourth part of the surviving 4 becoming chargeable from the said age of 60 to 72, which according to the bills aforessaid, is the age to which men after 60 live on an average, being 12 years, supposed at £.10 per annum for their maintenance, is | £.120 00
If 10 are set free at the age of 26 years, 6 of them will die before the age of 60 years, therefore |
To one fourth part of the maintenance of the surviving 4 as above | £120 00
If 10 are set free at the age of 31 years, 5 of them will die before the age of 60 years, therefore |
To one fourth part of the maintenance of the surviving 5 as above | £150 00
If 10 are set free at the age of 36 years, 5 of them will die before the age of 60 years, therefore |
To one fourth part of the maintenance of the surviving 5 as above | £150 00
If 10 are set free at the age of 41 years, 4 of them will die before the age of 60 years, therefore |
To one fourth part of the maintenance of the surviving 6 as above | 180 00
carried over | £.720 00
[Page]By the deposit money for 10 negroes, aged 26 years, being 5 years above 21, at 10s. per annum, is 50s. each, amounting to | £.25 00 |
Interest on the above £.25 from 26 to 66, is 40 years at 6 percent per annum | 60 00 | £.85 00
By the deposit money for 10 negroes, aged 31 years, being 10 years above 21, at 10s per annum, is 100s. each, amounting to | 50 00 |
Interest on the above £.50 from 31 to 66, is 35 years at 6 per cent per annum | 105 00 | 155 00
By the deposit money for 0 negroes, aged 36 years, being 15 years above 21, at 10s per annum, is 150s. each, amounting to | 75 00 |
Interest on the above £.75 from 36 to 66, is 30 years at 6 per cent per annum | 135 00 | 210 00
By the deposit money for 10 negroes, aged 41 years, being 20 years above 21, at 10s. per annum, is 200s. each, amounting to | 100 00 |
Interest on the above £.100 from 41 to 66, is 25 years at 6 per cent per annum | 150 00 | 250 00
carried over |  | £.700 00
[Page]brought forward, | £.720 00
If 10 are set free at the age of 46 years, 4 of them will die before the age of 60 years, therefore |
To one fourth part of the maintenance of the surviving 6 as above | £.180 00
If 10 are set free at the age of 51 years 3 of them will die before the age of 60 years, therefore |
To one fourth part of the maintenance of the surviving 7 as above | 210 00
|  | £.1110 00
Balance received by the publick more than it pays, is | 581 150
|  | £.1691 150
[Page]brought forward, | £.700 00
By the deposit money for I0 negroes, aged 46 years, being 25 years above 21, at 10s. per annum, is 250s each, amounting to | £.125 00 |
Interest on the above £.125 from 46 to 66, is 20 years at 6 per cent per annum | 150 00 | 275 00
By the deposit money for 10 negroes, aged 51 years, being 30 years above 21, at 10s. per annum, is 300s. each, amounting to | 150 00 |
Interest on the above £.150 from 51 to 66, is 15 years at 6 per cent, per annum | 135 00 | 285 00
|  | £.1260 00
By taxes which will be paid by 35 negroes (being one half of the 70, allowing the other half to be females) amounting to £.12 6 8 1/2 per head, after deducting what taxes would have been paid for them, had they remained slaves, and allowing no taxes paid after 60 years of age | 431 150
|  | £.1691 150

N. B. The calculations are all formed on tables, made from the Breslau bills of mortality, by the very ingenious and judicious Dr. Edmund Halley, which are in such repute, as to be universally used in valuing annuities on lives, and all other purposes of that nature, to which they are adapted. For instance, it is found by those bills, that of 592 persons of the age of 21 years, only 242 persons were living 39 years afterwards, viz. at the age of 60 years. Thus for our present purpose we say, if 592 persons aged 21 years, only leave 242 person alive at the age of 60 years; how many will 10 persons of the age of 21 years, leave alive at 60 years of age? The answer is 4, agreeable to our calculations.

[Page]THIS account is stated with as much accuracy as was possible, without introducing fractions, which would have multiplied figures to little purpose. When they did occur in the tables, the nearest whole number was used, and as that method is strictly observed, both in the debits and credits, it is presumed any inaccuracy arising from it, must be immaterial.

IF 10s. is paid to the overseers of the poor, on the manumission, for every year the slave hath exceeded 21, it is found that, although there is allowed for the maintenance of every one becoming chargeable, four times as much as the Pennsylvania law requires, there still remains in favour of the publick, a balance of £.150, exclusive of £.431 15s. which is the amount of the taxes that would be paid by them, before they attained the age of 60 years: after which age, it is allowed, that those who come to want assistance should be wholly maintained, when probably they might want but little assistance for some years afterwards.—In the calculation of the taxes no account is made of the probability of several of them acquiring such estates, or following such trades, as would be subject to much higher taxes; but every one of them is reckoned among the very lowest of the taxables.— In calculating the interest on the deposit money, it is carried to 66 years ; because the expence of a maintenance beginning at 60, and ending at 72, brings it on an average to 66. It may be observed that the interest carried to the credit of the account, might with great justice be much increased: For instance, 40 years interest on £.25, only amounts to £.60, (as stated in the account) whereas it is highly reasonable, that when £.25 has doubled itself, which it will do in 16 years and 2 thirds of a year, at 6 per cent per annum, the interest on the doubled sum, to wit, £.50, should thereafter commence as on a principal sum, which will again be doubled [Page] in 16 years and 2 thirds of a year, and then amount to £.100, on which interest again reckoned for 6 years and 2 thirds of a year longer (being in the whole 40 years) is £.40 more or £.140 total; which sum may be justly carried to the credit of the account, instead of the £85, which is carried out. For this reason no less than the sum of £.255 should be yet added to the balance as stated. Had the calculation been made on an allowance of compound interest, in which money (at the same rate) doubles itself in less than 12 years, the balance would have been still much increased; but that method is rejected, as what many might disapprove, although from what follows, it will appear, that monies put out on interest in the common way, cannot with near so much propriety, be entitled to compound interest, as in this instance, where the money is in constant circulation. Now, that all the monies deposited on manumission will be secure and constantly in use, and therefore entitled to interest, is evident when it is considered, that the sums so deposited, are paid for the immediate use of the poor: For, if £.25 be paid on the manumission of 10 negroes, age 26 years, in any township, so much less than the usual poor tax, will be collected from the inhabitants of that township; therefore each taxable retains in his own hands his proportionable part of the said £.25, and so will continue to do, in all probability, for 34 years; at which period it is supposed, one of the negroes may first require assistance; and then every inhabitant first pays a proportionable part of his share of the said £.25 left or retained in his hands 34 years, as above-mentioned; and as money is universally allowed to be worth its interest in whatever hands it may be, it must be supposed he has made such use of it, as may well enable him to pay the whole sum with its interest, when it may be called for to furnish the necessary assistance to one of these Paupers.

[Page]On the whole—it appears by the account as stated, that the publick receives £.581 15s. more than it pays, for 70 negroes manumitted; and that if we admit a more equitable way of reckoning the interest, we must add to that balance £.255 more, which would make it £.836 15s.

THEN to shew what the annual sum, to secure the publick on a manumission after the age of 21 years, should be we say, if the deposit money is fixed at 10s. per annum , it leaves the balance of £581 150

BUT allowing the interest to form a principal sum after 16 years and 2 thirds of a year, the balance is £.836 150

THEN in the first case, the deposit money may be reduced to 5s 4½ per annum.

IN the last case to 4s 5¼ per annum.

OTHERWISE, in the first case each negro will pay £.8 6 2½ more than

IN the last £.11 190¼ more than

is necessary to secure the publick from their ever becoming burdensome.

IF either the premises here said down, or the inferences made therefrom, should be found wrong, it would be esteemed a service done to the cause of Liberty, to have the errors pointed out in one of the publick papers; for thought an indulge is wished to be granted to such as are conscientiously scrupulous of holding their fellow-creatures in perpetual bondage; it is reasonable that the publick, at the same time, should be cautiously guarded against any injurious consequences.

FINIS.

Information about this book

Title statement

An Account stated on the manumission of slaves, shewing, that in lieu of the usual security required, certain sums paid at several periods of manumission, will amply secure the publick, as well as their owners from any future burden.

Publication

Publisher

Text Creation Partnership,

Place of publication

Ann Arbor, MI :

Date

2008-09.

ID [DLPS]

N32160

ID [TCP]

N32160

ID [STC]

Shipton 42395

ID [NOTIS]

APV5446

ID [IMAGE-SET]

42395

ID [EVANS-CITATION]

99000818

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Series

Early American Imprints, 1639-1800 ; no. 42395.

Notes

(Evans-TCP ; no. N32160)

Transcribed from: (Readex Archive of Americana ; Early American Imprints, series I ; image set 42395)

Images scanned from Readex microprint and microform: (Early American imprints. First series ; no. 42395)

Source

— An Account stated on the manumission of slaves, shewing, that in lieu of the usual security required, certain sums paid at several periods of manumission, will amply secure the publick, as well as their owners from any future burden.,

Extent

8 p. ; (8vo)

Printed by Isaac Collins,. [Burlington, N.J. :: 1773]. (Caption title.) (Imprint supplied by Evans.)

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