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"Sharon Murphy's book is a powerful and unprecedented dive into the entangled history of banking and slavery in nineteenth-century America. Slaveholders developed credit and creditworthiness by using enslaved people as collateral, and this allowed them to undertake an endless array of projects. But Murphy further shows that this credit system grew and changed as banks sought new ways to realize their own profits and power. She demonstrates not merely how slavery was financed by banks but how banks were financed by slavery. By extension, everything banks enabled, not least the physical expansion of the United States itself, was also then literally indebted to that noxious institution"--
Slave Agriculture and Financial Markets in Antebellum America by Richard Holcombe Kilbourne Pdf
"Slave Agriculture and Financial Markets marks an important chapter in the study of antebellum southern slavery and the credit system. Using the Mississippi branch of the Second Bank of the United States as a case study, Kilbourne analyses the way intermediaries, such as chartered banks and commercial partnerships, were used to finance slave agriculture. he details how the Bank supported the nation's credit abroad by providing apparently limitless credit facilities to Southern planters along the Mississippi river. This ground-breaking new book draws heavily on major archives which have never been studied before."--BOOK JACKET.
Author : Sharon Ann Publisher : University of Chicago Press Page : 430 pages File Size : 46,6 Mb Release : 2023-04-05 Category : History ISBN : 9780226824604
A sobering excavation of how deeply nineteenth-century American banks were entwined with the institution of slavery. It’s now widely understood that the fullest expression of nineteenth-century American capitalism was found in the structures of chattel slavery. It’s also understood that almost every other institution and aspect of life then was at least entangled with—and often profited from—slavery’s perpetuation. Yet as Sharon Ann Murphy shows in her powerful and unprecedented book, the centrality of enslaved labor to banking in the antebellum United States is far greater than previously thought. Banking on Slavery sheds light on precisely how the financial relationships between banks and slaveholders worked across the nineteenth-century South. Murphy argues that the rapid spread of slavery in the South during the 1820s and ’30s depended significantly upon southern banks’ willingness to financialize enslaved lives, with the use of enslaved individuals as loan collateral proving central to these financial relationships. She makes clear how southern banks were ready—and, in some cases, even eager—to alter time-honored banking practices to meet the needs of slaveholders. In the end, many of these banks sacrificed themselves in their efforts to stabilize the slave economy. Murphy also details how banks and slaveholders transformed enslaved lives from physical bodies into abstract capital assets. Her book provides an essential examination of how our nation’s financial history is more intimately intertwined with the dehumanizing institution of slavery than scholars have previously thought.
Economic Slavery in the 21st Century by Kevin Williams Pdf
As the divide between the wealthiest and the rest of us widens, Economic Slavery in the 21st Century is an important history lesson of how we got here and a cautionary tale of what may come. Though the story told is one of greed and corruption, author Kevin Williams uses the lessons of the past to create a guide for a future that is more economically just for everyone. Thoroughly researched and referenced, Economic Slavery in the 21st Century shines a light into the dark corners of the banking industry. This cleansing light seeks to put backbone into a government that genuflects at the altar of shadowy bankers with far too much power and provides guidance to ordinary citizens to avoid the traps of yesterday.
Slavery's Capitalism by Sven Beckert,Seth Rockman Pdf
During the nineteenth century, the United States entered the ranks of the world's most advanced and dynamic economies. At the same time, the nation sustained an expansive and brutal system of human bondage. This was no mere coincidence. Slavery's Capitalism argues for slavery's centrality to the emergence of American capitalism in the decades between the Revolution and the Civil War. According to editors Sven Beckert and Seth Rockman, the issue is not whether slavery itself was or was not capitalist but, rather, the impossibility of understanding the nation's spectacular pattern of economic development without situating slavery front and center. American capitalism—renowned for its celebration of market competition, private property, and the self-made man—has its origins in an American slavery predicated on the abhorrent notion that human beings could be legally owned and compelled to work under force of violence. Drawing on the expertise of sixteen scholars who are at the forefront of rewriting the history of American economic development, Slavery's Capitalism identifies slavery as the primary force driving key innovations in entrepreneurship, finance, accounting, management, and political economy that are too often attributed to the so-called free market. Approaching the study of slavery as the originating catalyst for the Industrial Revolution and modern capitalism casts new light on American credit markets, practices of offshore investment, and understandings of human capital. Rather than seeing slavery as outside the institutional structures of capitalism, the essayists recover slavery's importance to the American economic past and prompt enduring questions about the relationship of market freedom to human freedom. Contributors: Edward E. Baptist, Sven Beckert, Daina Ramey Berry, Kathryn Boodry, Alfred L. Brophy, Stephen Chambers, Eric Kimball, John Majewski, Bonnie Martin, Seth Rockman, Daniel B. Rood, Caitlin Rosenthal, Joshua D. Rothman, Calvin Schermerhorn, Andrew Shankman, Craig Steven Wilder.
Serving the Chain? by Karwan Fatah-Black,Lauren Lauret,Joris van den Tol Pdf
In the nineteenth century, when the principal cultural, political, and financial institutions of the Netherlands were established, slavery was still very much part of the nation's global imperial structures. Dutch families, institutions, and governments are increasingly interested in the role their predecessors played in this history of colonialism and enslavement. This book is a history of De Nederlandsche Bank in which particular attention is paid to its links with slavery, both as a factor in the economy and as a subject of political debate. Because De Nederlandsche Bank served the Dutch ministery of Colonies and consequently followed Dutch trade interests, the bank's history intersects with the history of slavery. The investigation in this book focuses not only upon DNB's formal involvement but also on the private involvement of its directors. In addition, it examines whether the bank and its directors played any role in the abolition of slavery.
A Narrative of Events of the Life of J. H. Banks, an Escaped Slave, from the Cotton State, Alabama, in America by Jourden Banks,J. W. C. Pennington Pdf
Almost every individual, family, nation, indeed most of the world, is today in thrall to the money lenders. Opposing the Money Lenders examines our parasitic financial system and the means by which it might be replaced.
Born in Blackness: Africa, Africans, and the Making of the Modern World, 1471 to the Second World War by Howard W. French Pdf
Revealing the central yet intentionally obliterated role of Africa in the creation of modernity, Born in Blackness vitally reframes our understanding of world history. Traditional accounts of the making of the modern world afford a place of primacy to European history. Some credit the fifteenth-century Age of Discovery and the maritime connection it established between West and East; others the accidental unearthing of the “New World.” Still others point to the development of the scientific method, or the spread of Judeo-Christian beliefs; and so on, ad infinitum. The history of Africa, by contrast, has long been relegated to the remote outskirts of our global story. What if, instead, we put Africa and Africans at the very center of our thinking about the origins of modernity? In a sweeping narrative spanning more than six centuries, Howard W. French does just that, for Born in Blackness vitally reframes the story of medieval and emerging Africa, demonstrating how the economic ascendancy of Europe, the anchoring of democracy in the West, and the fulfillment of so-called Enlightenment ideals all grew out of Europe’s dehumanizing engagement with the “dark” continent. In fact, French reveals, the first impetus for the Age of Discovery was not—as we are so often told, even today—Europe’s yearning for ties with Asia, but rather its centuries-old desire to forge a trade in gold with legendarily rich Black societies sequestered away in the heart of West Africa. Creating a historical narrative that begins with the commencement of commercial relations between Portugal and Africa in the fifteenth century and ends with the onset of World War II, Born in Blackness interweaves precise historical detail with poignant, personal reportage. In so doing, it dramatically retrieves the lives of major African historical figures, from the unimaginably rich medieval emperors who traded with the Near East and beyond, to the Kongo sovereigns who heroically battled seventeenth-century European powers, to the ex-slaves who liberated Haitians from bondage and profoundly altered the course of American history. While French cogently demonstrates the centrality of Africa to the rise of the modern world, Born in Blackness becomes, at the same time, a far more significant narrative, one that reveals a long-concealed history of trivialization and, more often, elision in depictions of African history throughout the last five hundred years. As French shows, the achievements of sovereign African nations and their now-far-flung peoples have time and again been etiolated and deliberately erased from modern history. As the West ascended, their stories—siloed and piecemeal—were swept into secluded corners, thus setting the stage for the hagiographic “rise of the West” theories that have endured to this day. “Capacious and compelling” (Laurent Dubois), Born in Blackness is epic history on the grand scale. In the lofty tradition of bold, revisionist narratives, it reframes the story of gold and tobacco, sugar and cotton—and of the greatest “commodity” of them all, the twelve million people who were brought in chains from Africa to the “New World,” whose reclaimed lives shed a harsh light on our present world.
Modern Slavery: A Reference Handbook provides a thorough treatment of the evolving scope, nature, and contexts of modern slavery and a discussion of prevention and abolition efforts in an accessible format for high school and college readers. Modern Slavery: A Reference Handbook addresses essential questions about slavery in its contemporary manifestations. The book examines the growing epidemic and recent contexts of modern slavery in the United States and throughout the world, and describes in detail what caused it, whom it impacts, and what can be (and is being) done about it. It also explores the various contributing factors and how governmental and nongovernmental agencies can better engage in prevention and eradication. The volume opens with chapters providing information on contemporary slavery, followed by a discussion of the causes, consequences, and possible solutions. The next chapter includes essays from a diverse range of contributors, providing useful perspectives to round out the author's expertise. The book concludes with a collection of data and documents; an overview of important people, organizations, and resources relating to the issue; a chronology; and a glossary of key terms.
Slavery helped finance the Industrial Revolution in England. Plantation owners, shipbuilders, and merchants connected with the slave trade accumulated vast fortunes that established banks and heavy industry in Europe and expanded the reach of capitalism worldwide. Eric Williams advanced these powerful ideas in Capitalism and Slavery, published in 1944. Years ahead of its time, his profound critique became the foundation for studies of imperialism and economic development. Binding an economic view of history with strong moral argument, Williams's study of the role of slavery in financing the Industrial Revolution refuted traditional ideas of economic and moral progress and firmly established the centrality of the African slave trade in European economic development. He also showed that mature industrial capitalism in turn helped destroy the slave system. Establishing the exploitation of commercial capitalism and its link to racial attitudes, Williams employed a historicist vision that set the tone for future studies. In a new introduction, Colin Palmer assesses the lasting impact of Williams's groundbreaking work and analyzes the heated scholarly debates it generated when it first appeared.
In 1863 black communities owned less than 1 percent of total U.S. wealth. Today that number has barely budged. Mehrsa Baradaran pursues this wealth gap by focusing on black banks. She challenges the myth that black banking is the solution to the racial wealth gap and argues that black communities can never accumulate wealth in a segregated economy.
Slavery, Atlantic Trade and the British Economy, 1660–1800 by Kenneth Morgan Pdf
This book considers the impact of slavery and Atlantic trade on British economic development in the generations between the restoration of the Stuart monarchy and the era of the Younger Pitt. During this period Britain's trade became 'Americanised' and industrialisation began to occur in the domestic economy. The slave trade and the broader patterns of Atlantic commerce contributed important dimensions of British economic growth although they were more significant for their indirect, qualitative contribution than for direct quantitative gains. Kenneth Morgan investigates five key areas within the topic that have been subject to historical debate: the profits of the slave trade; slavery, capital accumulation and British economic development; exports and transatlantic markets; the role of business institutions; and the contribution of Atlantic trade to the growth of British ports. This stimulating and accessible book provides essential reading for students of slavery and the slave trade, and British economic history.
From the author of "American Mafioso" comes the story of the Brown brothers, leading slave merchants of Providence, Rhode Island, during the time of the American Revolution.
