"Under Federal Legislation, the exports of the South have been the basis of the Federal Revenue. Virginia, the two Carolina's, and Georgia, may be said to defray three fourths of the annual expense of supporting the Federal Government; and
of this great sum, annually furnished by them, nothing or next to nothing is returned to them, in the shape of Government expenditures and that expenditure flows in an opposite direction -- it flows north, in one uniform, uninterrupted and perennial stream.
This is the reason why wealth disappears from the south and rises up in the north. Federal Legislation does this." - Senator Thomas Hart Benton
Thomas Hart Benton (March 14, 1782 – April 10, 1858), nicknamed "Old Bullion", was a U.S. Senator from Missouri and a staunch advocate of westward expansion of the United States. He served in the Senate from 1821 to 1851, becoming the first member of that body to serve five terms. Architect and champion of westward expansion by the United States, a cause that became known as Manifest Destiny.
And, from the GA Dec. of Secession
The material prosperity of the North was greatly dependent on the Federal Government; that of the the South not at all. In the first years of the Republic the navigating, commercial, and manufacturing interests of the North began to seek profit and aggrandizement at the expense of the agricultural interests. Even the owners of fishing smacks sought and obtained bounties for pursuing their own business (which yet continue), and $500,000 is now paid them annually out of the Treasury. The navigating interests begged for protection against foreign shipbuilders and against competition in the coasting trade. Congress granted both requests, and by prohibitory acts gave an absolute monopoly of this business to each of their interests, which they enjoy without diminution to this day. Not content with these great and unjust advantages, they have sought to throw the legitimate burden of their business as much as possible upon the public; they have succeeded in throwing the cost of light-houses, buoys, and the maintenance of their seamen upon the Treasury, and the Government now pays above $2,000,000 annually for the support of these objects. Theses interests, in connection with the commercial and manufacturing classes, have also succeeded, by means of subventions to mail steamers and the reduction in postage, in relieving their business from the payment of about $7,000,000 annually, throwing it upon the public Treasury under the name of postal deficiency. The manufacturing interests entered into the same struggle early, and has clamored steadily for Government bounties and special favors. This interest was confined mainly to the Eastern and Middle non-slave-holding States. Wielding these great States it held great power and influence, and its demands were in full proportion to its power. The manufacturers and miners wisely based their demands upon special facts and reasons rather than upon general principles, and thereby mollified much of the opposition of the opposing interest. They pleaded in their favor the infancy of their business in this country, the scarcity of labor and capital, the hostile legislation of other countries toward them, the great necessity of their fabrics in the time of war, and the necessity of high duties to pay the debt incurred in our war for independence. These reasons prevailed, and they received for many years enormous bounties by the general acquiescence of the whole country.
With the south drained as it was to support the industry of the north, as we see in the above contemporary comments, there was not the capital to industrialize on their own.
This comment is also interesting:
"Each state, ratifying the Constitution, is considered a sovereign body, independent of others and only to be bound by its own voluntary act." James Madison
