Peculiar institution
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The "peculiar institution" was a euphemism for slavery and the economic ramifications of it in the American South. The term aimed to explain away the seeming contradiction of legalized slavery in a country whose Declaration of Independence states that "We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable rights, that among these are life, liberty and the pursuit of happiness." It was in popular use during the first half of the 19th century, especially in legislative bodies, as the word slavery was deemed "improper," and was actually banned in certain areas.
This phrase is used notably in the speeches and writings of John C. Calhoun, including his Speech on the Reception of Abolition Petitions.
External links
John C. Calhoun, Speech of the Reception of Abolition Petitions (http://www.wfu.edu/~zulick/340/calhoun2.html)