Lest we forget or confuse why South Carolina chose the path of Secession, lets look at it in their own words. And review the declaration of causes from Georgia, Mississippi, Virginia and Texas as well:
http://www.civilwar.org/education/history/primarysources/declarationofcauses.html
When you get down to it, it wasn't "state's rights," it was slavery. The South didn't want to give up owning people, and they thought the Republicans were going to make them do it. The only curious exception was Texas, who had in independent basis for Secession in addition to abolition of slavery. They claimed that the Federal government was not securing their border against Mexico or against the Commanche Indians. That has a familiar ring to it.
Given that the value of slaves was $3 Billion or $4 Billion, and with Dred Scott v. Sanford requiring compensation for Emancipation, the south should have cashed out their slaves and reaped the economic windfall. Instead, the "value" of those slaves was wiped out completely with the 13th and 14th Amendments.
By the way, even if the "value" of the slaves exceeded all of the value of the industry in the North, the value of northern industry was tangible and lasting. The "value" of slaves as property was zero, once they were declared to be free, which tells me there really wasn't a value there at all.