Frederick Douglass Speech

I have always known that Frederick Douglass was a self-made man that literally started at the bottom of the barrel, a slave to be exact, was later given opportunities to make something of himself, and he then more than capitalized on these opportunities.  As he continued his education and made connections throughout the North, he came to realize that he was meant for something more than an "ordinary" freed slave, but to become a leader against the entire institution of slavery.  His efforts earned him great respect, and conversely fear, from those that he came to influence, and at one point he even had a one on one discussion over slavery with Abraham Lincoln himself.  In this speech that he gave on July 5th, 1852, he makes the assertion that the celebration is not meant for slaves or indentured servants, but for those that owned slaves and everyone else that was free.  At the end of the speech he says that the fact that slaves are far more likely to be legally executed than whites demonstrates that whites view blacks as fully realized human beings.  As a reader in the 21st century, who believes this is a valid conclusion?