M. Meeropol points out that the southern planter class were the wealthiest 
Colonials pre-revolution.  AFAIK, the fortunes of the great families of England 
dwarfed those of the southern planters much as the southern planters originally 
dwarfed the northern merchants and manufacturers.  It's typical of the 
incredible arrogance and hypocrisy of the British ruling classes that they 
would profit from the exploitation of slaves by the southern planters and yet 
also look down on those same planters as an inferior class of "drivers of 
negroes."  It seems quite likely that if these upstarts defied the British 
lion, it would retaliate if it could by destroying the rebels, slave holdings 
and all, even without abolishing slavery.  In other words, the Southerners may 
have had good reason to regard their colonial masters as enemies of THEIR 
slaveholding "liberty" even if the British did not actually abolish slavery 
itself as an institution throughout the Empire. After the abolition of slavery 
in Britain, when the cotton gin, the steamboat, and railroads made Southern 
cotton "king" in the textile manufacturing hubs of the world, the British 
happily consumed Southern cotton by the shipload, slavery be damned.

Surely it goes without saying that whether or not you classify U.S. southern 
chattel slavery as capitalist or feudal, the slave system throve up to the 
Civil War as part of a capitalist, not a feudal "world system"-and is it 
therefore excessively naive to suppose that the allegedly "feudal" or 
"precapitalist"--or somehow Arcadian and "agrarian" likes of Washington, 
Jefferson, or Madison--had some inkling of the new developing capitalist (dare 
one say it) world system, or knew that maintaining and extending THEIR 
"liberties" included a conscious rejection of colonial rule as a threat to 
those liberties; in other words, to slavery as they knew it? By 1860, the 
industrialists of Europe and the developing capitalist North of the US were 
gladly eating from the hands of the planting class, who would have been 
completely subjugated to British interests if the Revolution had not succeeded.


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