AP World HistoryAP World HistoryPOD #11 – Transatlantic Slave POD #11 – Transatlantic Slave

TradeTrade

Slave Trade EconomicsSlave Trade Economics

Class Discussion Class Discussion NotesNotes

Bulliet – “Creating the Atlantic Bulliet – “Creating the Atlantic Economy”, pp. 515-520Economy”, pp. 515-520

Historical ContextHistorical Context ““At once archaic in their cruel system of slavery At once archaic in their cruel system of slavery

and oddly modern in their specialization in a and oddly modern in their specialization in a single product for export, the West Indian single product for export, the West Indian plantation colonies were the bittersweet fruits of plantation colonies were the bittersweet fruits of a new Atlantic trading system. In the sixteenth a new Atlantic trading system. In the sixteenth century Spanish treasure fleets laden with silver century Spanish treasure fleets laden with silver and gold bullion had dominated Atlantic trade. In and gold bullion had dominated Atlantic trade. In the late seventeenth and eighteenth centuries the late seventeenth and eighteenth centuries the Atlantic trade was dominated by sugar ships the Atlantic trade was dominated by sugar ships returning to Europe from the West Indies and returning to Europe from the West Indies and Brazil and by slave ships transporting an average Brazil and by slave ships transporting an average of 250 African captives each to the Americas.” of 250 African captives each to the Americas.” (Bulliet, p. 515)(Bulliet, p. 515)

Fueling the Atlantic TradeFueling the Atlantic Trade

Plantation System – cash crops are Plantation System – cash crops are produced making the land owners produced making the land owners very wealthyvery wealthy

New Economic Systems – New Economic Systems – mercantilism & capitalismmercantilism & capitalism

New Partnerships between Business New Partnerships between Business & Government& Government

New working relationships between New working relationships between European and African merchantsEuropean and African merchants

Monopolies (a failed Monopolies (a failed experiment)experiment)

Early Spanish & Portuguese voyages were Early Spanish & Portuguese voyages were sponsored and supported by the government, sponsored and supported by the government, with both governments attempting to restrict with both governments attempting to restrict trade with the overseas colonies through the trade with the overseas colonies through the use of royal monopoliesuse of royal monopolies

Royal monopolies were expensive and Royal monopolies were expensive and inefficientinefficient

The introduction of private enterprises in the The introduction of private enterprises in the trade routes made the process both more trade routes made the process both more efficient and more profitableefficient and more profitable

CapitalismCapitalism This system was based on the expansion of This system was based on the expansion of

credit and the development of large credit and the development of large financial institutions (banks, stock financial institutions (banks, stock exchanges, and chartered trading exchanges, and chartered trading companies)companies)

These institutions allowed merchants and These institutions allowed merchants and investors to conduct business operations investors to conduct business operations around the worldaround the world

Risk decreased & Profits increasedRisk decreased & Profits increased While this system was developed in Europe While this system was developed in Europe

it was used by many profit seeking it was used by many profit seeking investors in their colonial import & export investors in their colonial import & export operationsoperations

BankingBanking

By the 17By the 17thth century Dutch banks had century Dutch banks had gained a reputation for financial gained a reputation for financial security and consequently became the security and consequently became the holder of large sums of money from holder of large sums of money from both governments and private investorsboth governments and private investors

To make a profit, banks invested their To make a profit, banks invested their holdings in real estate, industries, loans holdings in real estate, industries, loans to governments and overseas tradeto governments and overseas trade

Joint-Stock CompaniesJoint-Stock Companies These ventures allowed investors to earn higher These ventures allowed investors to earn higher

profits than a bank could offerprofits than a bank could offer These were the precursors to modern corporationsThese were the precursors to modern corporations Shares of a company could be bought and sold in Shares of a company could be bought and sold in

specialized financial markets called stock specialized financial markets called stock exchangesexchanges

Stock was an ownership stake in a company and Stock was an ownership stake in a company and the investors would share in both the risks and the the investors would share in both the risks and the profits of the operationprofits of the operation

Insurance was also developed and purchased by Insurance was also developed and purchased by merchants and trading companies involved in merchants and trading companies involved in overseas trading as a way to protect the ships and overseas trading as a way to protect the ships and cargo should potential loses occurcargo should potential loses occur

MercantilismMercantilism ““European states sought to monopolize the profits European states sought to monopolize the profits

produced in their colonial empires by controlling trade produced in their colonial empires by controlling trade and accumulating capital in the form of gold and silver. and accumulating capital in the form of gold and silver. This system was called mercantilism. Mercantilist This system was called mercantilism. Mercantilist policies strongly discouraged citizens from trading with policies strongly discouraged citizens from trading with foreign merchants and used armed force when foreign merchants and used armed force when necessary to secure exclusive relations.” (Bulliet, p. 516)necessary to secure exclusive relations.” (Bulliet, p. 516)

The British will protect their trade through a series of The British will protect their trade through a series of laws known as the Navigation Actslaws known as the Navigation Acts

The French will do the same with the The French will do the same with the ExclusifExclusif These laws enacted high tariffs (taxes on imports and These laws enacted high tariffs (taxes on imports and

restrictions on foreign trade), as well as to protect restrictions on foreign trade), as well as to protect national manufacturing and agricultural interests from national manufacturing and agricultural interests from the competition of their coloniesthe competition of their colonies

Colonies exist for the financial benefit of the mother Colonies exist for the financial benefit of the mother countrycountry

Chartered CompaniesChartered Companies

These were companies who were given a These were companies who were given a monopoly over the trade of a specific monopoly over the trade of a specific region or colonyregion or colony

Private investors would buy shares of Private investors would buy shares of these companies as a means to making these companies as a means to making large profitslarge profits

The success of these companies resulted The success of these companies resulted in each nation establishing their ownin each nation establishing their own

Royal African Company (RAC) controlled Royal African Company (RAC) controlled all British trade with West Africaall British trade with West Africa

Atlantic Circuit (Triangular Atlantic Circuit (Triangular Trade)Trade)

Europe to Africa – European manufactured goods Europe to Africa – European manufactured goods (metals, hardware, guns, cotton textiles) were (metals, hardware, guns, cotton textiles) were exchanged for Slaves (also West African gold, ivory exchanged for Slaves (also West African gold, ivory and timber)and timber)

Africa to America (Middle Passage) – Slaves were Africa to America (Middle Passage) – Slaves were transported across the Atlantic and sold to plantation transported across the Atlantic and sold to plantation owners (remember smallpox had wiped out the owners (remember smallpox had wiped out the Amerindian labor force)Amerindian labor force)

America to Europe – plantation goods (sugar cane, America to Europe – plantation goods (sugar cane, cotton, tobacco etc.) were sent to the mother country cotton, tobacco etc.) were sent to the mother country in Europein Europe

Profits – in theory it should have been profitable as Profits – in theory it should have been profitable as goods were sent from areas they were abundant to goods were sent from areas they were abundant to areas in which they were scarce, however, shipwrecks, areas in which they were scarce, however, shipwrecks, deaths and piracy could result in financial lossdeaths and piracy could result in financial loss

African Slave TradeAfrican Slave Trade Plantation economics and profits were dependent Plantation economics and profits were dependent

on the slave tradeon the slave trade African slaves were used to replace the African slaves were used to replace the

Amerindian ecomienda laborers who died from Amerindian ecomienda laborers who died from the smallpox outbreak and epidemicthe smallpox outbreak and epidemic

In the 150 years after the arrival of the Europeans In the 150 years after the arrival of the Europeans in the New World nearly 800,000 Africans were in the New World nearly 800,000 Africans were transported across the Atlantic against their willtransported across the Atlantic against their will

During the Sugar Boom years of 1650 to 1800 During the Sugar Boom years of 1650 to 1800 there were over 7,500,000 slaves transportedthere were over 7,500,000 slaves transported

The West Indies (including Cuba) accounted for The West Indies (including Cuba) accounted for almost 50% of these slaves, while Brazil took almost 50% of these slaves, while Brazil took nearly 33% and North America roughly 5% with nearly 33% and North America roughly 5% with the rest going to the Spanish colonial mainlandsthe rest going to the Spanish colonial mainlands

Middle Passage ConditionsMiddle Passage Conditions ““While the volume and duration of the slave trade While the volume and duration of the slave trade

indicate that it was profitable, the relative value of indicate that it was profitable, the relative value of European goods and African slaves as well as slave European goods and African slaves as well as slave prices in American ports determined the profit of prices in American ports determined the profit of individual voyages. Slave traders also had to deliver individual voyages. Slave traders also had to deliver as many healthy slaves as possible for sale in the as many healthy slaves as possible for sale in the plantation colonies, but the terrible conditions on plantation colonies, but the terrible conditions on slave ships and a long and treacherous voyage slave ships and a long and treacherous voyage lasting from six to ten weeks led to high mortalities. lasting from six to ten weeks led to high mortalities. Some ships arrived with all of their slaves alive, but Some ships arrived with all of their slaves alive, but large, even catastrophic, losses of life were common. large, even catastrophic, losses of life were common. On average, however, slave traders succeeded in On average, however, slave traders succeeded in lowering mortality during the Middle Passage from lowering mortality during the Middle Passage from about 23 percent on voyages before 1700 to half about 23 percent on voyages before 1700 to half that in the last half of the eighteenth century.” that in the last half of the eighteenth century.” (Bulliet, pp. 518-519)(Bulliet, pp. 518-519)

Factors Influencing Mortality Factors Influencing Mortality Rates Along the Middle Rates Along the Middle

PassagePassage Failed escapes & Mutinies (especially among male slaves Failed escapes & Mutinies (especially among male slaves

who would attempt to overpower their captors and were who would attempt to overpower their captors and were therefore, often kept chained together below deck)therefore, often kept chained together below deck)

Suicide - according to traditional Animist beliefs, the spirit Suicide - according to traditional Animist beliefs, the spirit would return home upon bodily deathwould return home upon bodily death

Mistreatment – although it was in the best financial interest Mistreatment – although it was in the best financial interest of the captain and crew to keep the slaves alive and in of the captain and crew to keep the slaves alive and in good condition, whippings, beatings, and even executions good condition, whippings, beatings, and even executions were used to keep order and controlwere used to keep order and control

Fixed Melancholy – many slaves suffered from severe Fixed Melancholy – many slaves suffered from severe depression and refused to eat, leading some crews to depression and refused to eat, leading some crews to attempt to force feed these slaves attempt to force feed these slaves

Because work on slave ships was difficult and dangerous Because work on slave ships was difficult and dangerous most sailors did not seek employment on these voyages, most sailors did not seek employment on these voyages, consequently less moral and ethical crews and captains consequently less moral and ethical crews and captains were in control of these vessels and slaveswere in control of these vessels and slaves