AMERICAN ECONOMIC HISTORY - THE FINANCIAL IMPACT OF SLAVERY 1 American Economic History - The financial Impact of Slavery African men and woman were shipped as cargo on slave ships to the United State to be sold for the sole purpose of working the land for the white man cultivating tobacco, wheat and cotton. In Virginia tobacco was beneficial and in the long run when ranchers found the dirt was prime for developing tobacco it turned into the first lucubrate farms in the south. The plants flourished in the hotness and dampness of the Virginia which lead to development in the economy. The slave labor workforce was one of the most dynamic economic and social processes in American history that generated enormous amounts of revenue due to the high volume of growth in textiles and raw materials in the South, however this was not just a political issue it was also an unjustly human rights issues . Source: Subjugation in Americas began when African slaves were brought to the North American province of Jamestown, Virginia, in 1619 in slave ships. Slave ships were expansive cargo ships that were changed over with the end goal of transporting Africans to America to be workers without rights. An expected 15 million Africans were transported to the Americas somewhere around 1540 and 1850. To expand their benefits slave shippers conveyed the same number of slaves as was physically conceivable on their boats. By the seventeenth century slaves could be acquired in Africa for about $25 and sold in the Americas for about $150. After the slave-exchange was announced illicit, costs went much higher. Indeed with a passing rate of 50 for every penny, dealers could hope to make colossal benefits from the exchange (Slavery in America, 2014). On the slave ship Africans had no power over their lives. For a large portion of the day, slaves were kept and put beneath deck without natural air. On occasions when the slaves were allowed to go above deck were attached to one another in shackles to keep them from attempting to escape. The slavers controlled what the slaves consumed, drank. The diet consisted of rice, bean and 24 ounces of water a day. Many that attempted to rebel were flogged within an inch of their life. Those that did not survive were thrown overboard (Cugoano, O. - 1787, January 1). Tobacco Amid the pioneer period in the United States, tobacco was the prevailing slave-delivered item. Gathered in Virginia and Maryland, tobacco ranches holders used the biggest rate of African slaves. Tobacco assumed a critical part in the economy of the United States since the frontier period. As interest rose in Europe, tobacco turned into the most imperative American horticultural fare of the late eighteenth century. High tobacco taxes in England helped lead to the American Revolutionary War. Therefore, the tobacco business helped fundamentally to the financial development of the United States through a significant part of the nineteenth and twentieth century's.

1. AMERICAN ECONOMIC HISTORY - THE FINANCIAL
IMPACT OF SLAVERY 1
American Economic History - The financial Impact of Slavery
African men and woman were shipped as cargo on slave ships to
the United State to be sold for the sole purpose of working the
land for the white man cultivating tobacco, wheat and cotton.
In Virginia tobacco was beneficial and in the long run when
ranchers found the dirt was prime for developing tobacco it
turned into the first lucubrate farms in the south. The plants
flourished in the hotness and dampness of the Virginia which
lead to development in the economy. The slave labor workforce
was one of the most dynamic economic and social processes in
American history that generated enormous amounts of revenue
due to the high volume of growth in textiles and raw materials
in the South, however this was not just a political issue it was
also an unjustly human rights issues .
Source:
Subjugation in Americas began when African slaves were
brought to the North American province of Jamestown,
Virginia, in 1619 in slave ships. Slave ships were expansive
cargo ships that were changed over with the end goal of
transporting Africans to America to be workers without rights.
An expected 15 million Africans were transported to the
Americas somewhere around 1540 and 1850. To expand their
benefits slave shippers conveyed the same number of slaves as
was physically conceivable on their boats. By the seventeenth
century slaves could be acquired in Africa for about $25 and
sold in the Americas for about $150. After the slave-exchange
was announced illicit, costs went much higher. Indeed with a
passing rate of 50 for every penny, dealers could hope to make
colossal benefits from the exchange (Slavery in America, 2014).
On the slave ship Africans had no power over their lives. For a

2. large portion of the day, slaves were kept and put beneath deck
without natural air. On occasions when the slaves were allowed
to go above deck were attached to one another in shackles to
keep them from attempting to escape. The slavers controlled
what the slaves consumed, drank. The diet consisted of rice,
bean and 24 ounces of water a day. Many that attempted to
rebel were flogged within an inch of their life. Those that did
not survive were thrown overboard (Cugoano, O. - 1787,
January 1).
Tobacco
Amid the pioneer period in the United States, tobacco was the
prevailing slave-delivered item. Gathered in Virginia and
Maryland, tobacco ranches holders used the biggest rate of
African slaves. Tobacco assumed a critical part in the economy
of the United States since the frontier period. As interest rose in
Europe, tobacco turned into the most imperative American
horticultural fare of the late eighteenth century. High tobacco
taxes in England helped lead to the American Revolutionary
War. Therefore, the tobacco business helped fundamentally to
the financial development of the United States through a
significant part of the nineteenth and twentieth century's.
The developments of tobacco pushed westward up the James
River expanding economy of scale in the south. However the
money related prizes of tobacco creation were large to the point
that numerous conventional agriculturists joined the
development so as to expand their funds. High tobacco taxes in
England helped lead to the American Revolutionary War
(Tobacco on State Economics, 2012). Because of the quickly
developing tobacco fields there was a more noteworthy
requirement for extra slave required to work the area, this
profited ranchers by delivering more tobacco to offer. In 1618
the Virginia Company, edgy for laborers joined the headlights’
framework with a specific end goal to offer landowners as an
issue to pull in slaves to work the area.

3. Timeline: (1612-1776), (Salmon, n.d): Source: Virginia
Foundation for the Humanities
· July 20, 1613 - Captain Robert Adams of the Elizabeth
delivers samples of John Rolfe's tobacco to England.
· 1617 - Twenty thousand pounds of John Rolfe's tobacco
arrives in England.
· 1618 - Approximately 40,000 pounds of John Rolfe's tobacco
arrives in England, twice the amount shipped the year before.
· 1619 - The General Assembly passes the first tobacco
inspection law, which orders all low-quality tobacco brought to
the Jamestown inspection site to be burned.
· 1623 - The General Assembly amends its 1619 tobacco
inspection law to allow for select men in each Virginia
settlement to condemn low-quality tobacco.
· 1632 - In an attempt to prevent overproduction, the General
Assembly reduces the number of tobacco plants a single settler
can grow to 1,500.
· 1633 - The General Assembly chooses five tobacco inspection
sites: Cheskiack, Denbigh, James City, Shirley Hundred Island,
and Southampton River in Elizabeth City.
· 1650 - Edward Digges plants Orinoco tobacco seeds in the
sandy soil of the York River. The light-colored, aromatic leaf,
known as "sweet-scented" tobacco, soon becomes the most
popular tobacco in London.
· 1663 - Discourse and View of Virginia, which puts forth
Virginia governor Sir William Berkeley's prescriptions for
improving the English colony, is published in London. Berkeley
describes tobacco as a "vicious ruinous plant" and calls for a
diversification of the economy.
· Autumn 1664 - Edward Digges and other men representing
Virginia's planters testify before the Privy Council about
depressed tobacco prices, and Digges recommends that Charles
II take steps to reduce tobacco production in the colonies and
encourage production of silk, flax, naval stores, and potash.
· 1680 - The General Assembly passes an act that creates port

4. towns as places for tobacco inspection warehouses (called
rolling-houses).
· 1682 - A group of frustrated planters in Gloucester,
Middlesex, and New Kent counties cuts down tobacco seedlings
at several hundred plantations in an attempt to raise the price of
tobacco.
· 1688 - A bumper crop of Virginia tobacco—measuring more
than 18 million pounds, the largest crop produced in a single
year to date—causes prices to fall to a penny a pound.
· 1704 - A shipment of several thousand hogsheads of tobacco is
sent to England and yields no return, an effect of the
overproduction of Virginia tobacco.
· May 1730 - The General Assembly passes "An Act for
amending the Staple of Tobacco; and for preventing Frauds in
his Majesty's Customs," outlining a controversial plan for the
inspection of tobacco before it goes to market.
· 1755 - A severe drought devastates Virginia agriculture,
resulting in a reduced harvest of corn and tobacco.
· 1776 - Planters turn to growing food crops, especially wheat,
in support of the Revolutionary War effort. Tobacco production
drops from 55 million pounds to 14.5 million pounds.
Just as the tobacco fields were beginning to deplete the textile
industry in Great Britain began to explode which lead to a great
demand for cotton clothing internationally. The banks and
shipping companies made millions of dollars due to
transshipping of cotton after Eli Whitney’s Cotton Gin.
Cotton
Eli Whitney's (1793) invention of the cotton gin was a machine
was designed to separate the fiber from the seed. The cotton
fiber would then be sold to make clothes that would be shipped
to Europe. The Cotton Gin gave servitude new life between
1800-1890. Cotton fields extended from South Carolina and
Georgia then spread to recently colonized area like Mississippi.
"This movement of the slave economy from the upper South
(Virginia and Maryland) to the lower South purchased about

5. extra African slaves to the lower South and West. 1.8 million Of
the 2.5 million subjugated Africans utilized in agribusiness in
the United States. (How Slavery Helped Build a World
Economy, 2010).
The measure of slaves developing in the South possessed by the
white man was an expansive piece of the prudent, national and
universal political impact in America. By the 1830 cotton was
the establishment of the pre-war southern economy. As the
cotton estate economy developed in the South banks and money
related organizations in the Northeast would supply advances
and speculations to buy slaves and land. This permitted the
white man to buy more slaves which helped develop their
monetary and political impacts in the United States.
The white man's most prominent resource was his slaves, dark
men and lady were frequently used to secure credits to buy
move slaves and more land with a specific end goal to make the
white man rich and now and again affluent. This would in the
long run turn into the source of assessment income for nearby
and state governments and also create an expense imposed on
slave deals.
The Three-Fifths Compromise greatly augmented southern
political power. In the Continental Congress, where each state
had an equal vote, there were only five states in which slavery
was a major institution. Thus the southern states had about 38
percent of the seats in the Continental Congress. Because of the
1787 Three-Fifths Compromise, the southern states had nearly
45 percent of the seats in the first U.S. Congress, which took
office in 1790.
It is ironic that it was a liberal northern delegate, James Wilson
of Pennsylvania, who proposed the Three-Fifths Compromise,
as a way to gain southern support for a new framework of
government. Southern states had wanted representation
apportioned by population; after the Virginia Plan was rejected,
the Three-Fifths Compromise seemed to guarantee that the
South would be strongly represented in the House of
Representatives and would have disproportionate power in

6. electing Presidents.
Over the long term, the Three-Fifths Compromise did not work
as the South anticipated. Since the northern states grew more
rapidly than the South, by 1820, southern representation in the
House had fallen to 42 percent. Nevertheless, from Jefferson's
election as President in 1800 to the 1850s, the three-fifths rule
would help to elect slaveholding Presidents. Southern political
power increasingly depended on the Senate, the President, and
the admission of new slaveholding states ("3/5 Compromise,"
1787).
References
How Slavery Helped Build a World Economy. (2010). Retrieved
from
http://news.nationalgeographic.com/news/2003/01/0131_030203
_jubilee2_2.html
Jones, E., & Salmon, J. (ND). Tobacco in Colonial Virginia.
Retrieved from
http://www.encyclopediavirginia.org/Tobacco_in_Colonial_Virg
inia#start_entry
Salmon, E. J. (N.D). John Rolfe. Retrieved from
http://www.encyclopediavirginia.org/Rolfe_John_d_1622
Slavery in America. (2014). Retrieved from
http://www.history.com/topics/black-history/slavery
The Three-Fifth Compromise. (1787). Retrieved from
http://www.digitalhistory.uh.edu/disp_textbook_print.cfm?smtid
=3&psid=163