The internal Southern conflict between these two factions began anew with the Congressional elections of 1857. It is worth observing that the make-up of these factions was almost a resurrection of the two groups which, in 1850, had divided the South on the question of rejecting the Compromise. In a letter to Stephens in reference to one of the Yancey men, Cobb prophesied: "McDonald will utterly fail to get up a new Southern Rights party. Burnt children dread the fire, and he cannot get up as strong an organization as he did in 1850. Still it is necessary to guard every point, as McDonald is a hard hand to deal with." For the moment, he foretold events correctly. The Southern elections of 1857 did not break the hold of the moderates.

Yancey turned to different machinery, quite as useful for his purpose. This he found in the Southern commercial conventions, which were held annually. At this point there arises a vexed question which has, of late, aroused much discussion. Was there then what we should call today a slave "interest"? Was organized capital deliberately exploiting slavery? And did Yancey play into its hands?* The truth seems to be that, between 1856 and 1860, both the idealist parties, the Republicans and the Secessionists, made peace with, shall we say, the Mammon of unrighteousness, or merely organized capital? The one joined hands with the iron interest of the North; the other, with the slave interest of the South. The Republicans preached the domination of the North and a protective tariff; the Yancey men preached the independence of the South and the reopening of the slave trade.