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Updated: July 22, 2025
Defeats in strikes, depression in trade, a rapidly falling labor market and court prosecutions were powerful allies of those socialistic and radical leaders inside the Federation who aspired to convert it from a mere economic organization into an economic-political one and make it embark upon the sea of independent politics.
The clue to the story of capital is to be found in this fact, too often forgotten, that there was an economic-political division cutting deep through every stratum of the Northern people. Their economic life as well as their political life was controlled on the one hand by a devotion to the cause of the war, and on the other hand by a hatred of that cause or by cynical indifference.
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