There is no analogous single event in the history of the North, previous to the war, which reveals with similar clearness a sectional consciousness. On the surface the life of the people seemed, indeed, to belie the existence of any such feeling. The Northern capitalist class aimed steadily at being non-sectional, and it made free use of the word national. We must not forget, however, that all sorts of people talked of national institutions, and that the term, until we look closely into the mind of, the person using it, signifies nothing. Because the Northern capitalist repudiated the idea of sectionalism, it does not follow that he set up any other in its place. Instead of accomplishing anything so positive, he remained for the most part a negative quantity.

Living usually somewhere between Maine and Ohio, he made it his chief purpose to regulate the outflow of manufactures from that industrial region and the inflow of agricultural produce. The movement of the latter eastward and northward, and the former westward and southward, represents roughly but graphically the movement of the business of that time. The Easterner lived in fear of losing the money which was owed him in the South. As the political and economic conditions of the day made unlikely any serious clash of interest between the East and the West, he had little solicitude about his accounts beyond the Alleghanies. But a gradually developing hostility between North and South was accompanied by a parallel anxiety on the part of Northern capital for its Southern investments and debts. When the war eventually became inevitable, $200,000,000 were owed by Southerners to Northerners. For those days this was an indebtedness of no inconsiderable magnitude. The Northern capitalists, preoccupied with their desire to secure this account, were naturally eager to repudiate sectionalism, and talked about national interests with a zeal that has sometimes been misinterpreted. Throughout the entire period from 1850 to 1865, capital in American politics played for the most part a negative role, and not until after the war did it become independent of its Southern interests.