Question #7eb31
1 Answer
Jan 11, 2018
1: Slave traders
2: Slave owners
3: Banks
4: Many, many companies
Explanation:
1: The slave traders, of course, had huge profit margins from selling their slaves
2: Slave owners also had large profit margins from the very very cheap labor the slaves provided.
3: Banks: It was actually possible for slaveholders to use a slave as collateral for a loan. If the buyer stops paying the loan back, the banks could collect money from that, allowing large profit margins. Also if a slaveholder suddenly became bankrupt, the banks could gain custody of the slaves and they could even sell them at auction.
4: Many, many companies profited from Slavery- those companies even exist today. Some examples:
- Many insurance companies "insured slaves"
- Yale University: Money made from slave trading benefited the university
- Norfolk Southern: offered slaveholders $180 ($3,379 today) apiece for enslaved Africans they would rent to the railroad for one yyear, according to the records.
