Note my use of the words "believed" and "supposedly"- that was intentional. The Emancipation Act and the Emancipation Proclamation did not free "enslaved" persons, but rather changed the hands of ownership from individual property owners to the United States itself.
"e" acts as a prefix meaning "out"
mancip comes from mancipum, meaning "ownership"
(see "man" from the Latin manus, meaning "hand" + "cip" refers to taking, receiving, or holding)
"ate" indicates an action.
Therefore, emancipation is literally "out of the one hand, to be received via another". Or, to give up authority over something or someone.
This word is not synonymous with liberate or free. In law, we pay special attention to the words chosen to convey our ideas. If the US's intention was to truly "free the slaves", we would be celebrating Liberation Day.
So are we emancipated or free?
well, I will ask you this: if we were free, would we
a) have to get a license to perform inalienable, natural rights (like traveling, running a business, etc...)
b) force parents to accept a standard of education that is contrary or subpar to one's values
c) have "police officers" unjustly killing youth without any consequences or repercussions?
Something to ponder on your day off.