@HeavenlyPossum Thank you yet again for another profound, deeply insightful, and astonishingly well-written essay on capitalism. And thank you for introducing me to the Hazzard Circular, which I hadn't heard of before. This particular passage rhymes with some of my own work and I thought I'd tell you, but my questions aren't necessarily everyone's, hence the CW.
This idea, this kind of explicit expression of wage labor as a transformation rather than a replacement for chattel slavery, which as you say sounds like a conspiracy theory to modern ears, can also be found repeatedly expressed just as openly as the passage you quote after the end of Reconstruction in the Gilded Age Southern US as local capitalists began to accept the reality of their situation, face up to the destruction, and understand that they were going to have to adapt to Northern capitalist methods or lose their control over the local means of production.
In newspapers across the South from c. 1880 on there are endless boosterish discussions of how local economies must transform themselves in order to attract capital. They talk openly about the need for free public schools to produce the requisite variety of workers and the correct municipal laws to control the workers. They talk openly about enclosure of common resources. They talk explicitly about what civic institutions are needed to facilitate industrialization and also real estate development, which many plantation owners whose property was close enough to cities or towns turned to once the end of slavery put an end to the plantation economy but left them with vast tracts of land. At that time it was normal for capitalists to sit on City Councils themselves instead of by proxy like they do now, so it's possible to read their op-eds written as capitalists and the minutes of their Council meetings where they pass precisely the capital-facilitating laws they propagandized for in the editorials. They had nothing to hide, so they didn't hide anything.
I read a lot of these newspapers as part of a long-term project addressing precisely the problem you identify of the actual truth sounding like an implausible conspiracy theory. The idea is generally that the process of capital controlling labor via wages and enclosure happens in the US entirely on a municipal level (glossing over technical thing about unincorporated areas in counties, not a problem for the theory). In short in the United States cities and towns are where the nose meets the grindstone.
That is, capital's method can be understood abstractly with respect to larger jurisdictions, but the more abstract the description the easier it is to feel it as a conspiracy rather than as something we can literally watch happening. On a purely local level, though, it can be seen, or it is possible to see it perfectly concretely. It's not necessary to speculate about an abstract ruling class that skims money/labor through abstractly described processes. The actual ruling class can be identified by name from commercial property records. Their actual communications with City officials can be analyzed through public records act laws (huge asterisk here, but it's possible to do some things this way) and other means. The actual money flowing into their literal coffers can be tracked through public records in many cases.
My idea is that by focusing on a particular municipality in depth and describing the operations of capital in that particular location in concrete terms, it's possible to effectively counter good-faith objections of conspiracy-theorizing. Anyway, it's maybe another way to approach this perennial problem, which you so adroitly addressed. Thanks again for your work, I really, really appreciate it and you.
ETA: I've never read anything by a US historian that takes this POV, or even anything by one who seems to understand at all how American cities actually work in a practical sense. The only book I know that approaches things this way is The Plantation Machine by Burnard and Garrigus. At that time Saint-Domingue and Jamaica were each small enough and locally administered enough to be essentially municipalities. They make the process incredibly clear.