Lec4_1_24 - Lecture 4 History of American Business THE...

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Lecture 4: History of American Business: THE BUSINESS OF SLAVERY Where we are going today: 1) History of the (modern) slave trade – the system emerging in the 1400’s. 2) Rise of plantation slavery in Americas – especially North America 3) The cotton boom – rise in demand in production of cotton. 4) The economics of slavery 5) Sectional tensions over the business of slavery (the Nullification Crisis of 1832) History of modern slave trade. Europeans began the process of transporting slaves from Africa to Americas early. Portuguese traders (Gold Coast) did not invent the concept of buying and selling human beings, but the arrival of Portuguese via ship created a new phenomenon – increased numbers of people involved and severity of work and permanence of the status of slavery. By early 1600’s this transatlantic slave trade was a regular practice, mostly done by the Spanish and French. Sugar plantations were huge. Between 1500 and 1888, approximately 11 million Africans were transported to the western hemisphere. In the same amount of time approx. 2.6 million white Europeans immigrated (to put things in perspective). The first slaves in United States arrived in 1619 via a Dutch trading ship. About 300,000 Africans would come to US overall. The rates of arrival from Africa were not constant – there was a decline in transatlantic traffic by the time of the American Revolution. Starting around 1720, the slave population in North America became self-sustaining. This decreased demand for imported slaves; besides, people born into slavery domestically were easier to control and less volatile. \ Nevertheless, by around 1800, there were approx. 700,000 slaves living in the U.S. By 1860,
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This note was uploaded on 10/17/2011 for the course MGNT 364 taught by Professor Staff during the Spring '11 term at UNC.

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Lec4_1_24 - Lecture 4 History of American Business THE...

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