[Virginia Ridgerunner]

Maybe all the slaveholders weren’t willing to sell.

And at the time, the U.S. government (dominated by southern politicians, it should be noted) was relatively small and could not afford to buy all 4 million slaves recorded in the 1860 census.

At an average cost of about $1,500 (in current dollars) each, the federal government would have had to pay out about $6 billion (which it did not have) to the planters and other slaveholders. Imagine the politics involved in making such a suggestion at the time

Paul's a kook and historical ignoramous!

'nuff said.

[Non-Sequitur]

At an average cost of about $1,500 (in current dollars) each, the federal government would have had to pay out about $6 billion (which it did not have) to the planters and other slaveholders. Imagine the politics involved in making such a suggestion at the time

It should be noted that $6 billion was 100 times the total federal budget at the time. That would be the equivilent of $2.6 quadrillion today. Anyone want to take that debt load on?

[Christian_Capitalist]

You're quoting the average price for prime field hands and/or skilled artisans. That gives an inflated result; you have to include women and children in the total, which brings down the average due to the lower prices these slaves commanded.

Here's some more accurate data for you.

The sales made by the professional slave traders were generally recorded each in a bill of sale; but in most of the localities these were not transcribed into the formal books of record, and the originals have mostly disappeared. The majority of the sales of which records are to be found were those of the slaves in the estates of deceased persons. These sales were at auction; and except in abnormal cases, which may often be distinguished, they may be taken as fairly representative of slave prices for the time and place.

There was always a great difference between the values of individual slaves. When the average price of negroes ranged about $500, prime field hands brought, say, $1,000, and skilled artisans still more. At that rate, an infant would be valued at about $100, a boy of twelve years and a man of fifty at about $500 each, and a prime wench for field work at $800 or $900.
--Author: Phillips, Ulrich B.
Title: “The Economic Cost of Slaveholding in the Cotton Belt.”

During the early English Colonial Period, 1640-1700, the price for a healthy male African slave about the equilivent of $100.00, with female slaves costing slightly less. From 1800-1860, healthy young male slaves brought up to $1500 and females brought up to $1000 dollars. Around $700 is probably the average cost.
--Copyright (c) 1994 "Emancipation Stations", by Henry Robert Burke

Alright, so:

Cost of Compensated Emancipation
$500-$700 average monetary price * 4 million slaves = $2.0 to $2.8 Billion dollars

Actual Cost of the War of Federal Aggression
$6 Billion dollars (This reflects Union expenditures only)
600,000 dead
Wrecked Southern infrastructure; damaged Northern infrastructure.

Yeah, that War was a real bargain, by comparison.