THE FINANCIER 
finally retained. Not so much earlier than his youth 
Florida had been added to the Union by purchase from 
Spain; Mexico, after the unjust war of 1848, had ceded 
Texas and the territory to the West. The boundary dis- 
putes between England and the United States in the far 
Northwest had been finally adjusted. To a man with 
great social and financial imagination, these facts could 
not help but be significant; and if they did nothing more, 
they gave him a sense of the boundless commercial 
possibilities which existed potentially in so vast a realm 
He was not of that order of speculative financial en- 
thusiasm which, in the type known as the " promoter," 
sees endless possibilities for gain in every unexplored 
rivulet and prairie reach; but the very vastness of the 
country suggested possibilities which he hoped might 
remain undisturbed. As a territory covering the length 
of a whole zone and between two seas, it seemed to him 
to possess an individuality which it would not retain if 
the States of the South were lost. 
Nevertheless, the freedom of the negro was not a signifi- 
cant point with him. He had observed their race from 
his boyhood and with considerable interest, and had been 
struck with virtues and defects which seemed inherent 
and conditioned by their experiences. 
He was not at all sure, for instance, that the negroes 
could be made into anything much more significant than 
they were. At any rate, it was a long uphill struggle 
for them, of which many future generations would not 
witness the conclusion. He had no particular quarrel 
with the theory that they should be free; he saw no 
particular reason why the South should not protest 
vigorously against the destruction of their property and 
their system. It was too bad that the negroes as slaves 
should be abused in some instances. He felt sure that 
that ought to be adjusted in some way; but beyond that 
he could not see that there was a great ethical basis for 
the contentions of either side. The vast majority of 
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