[Marxism] Fwd: How the Slave Trade Built America - NYTimes.com

Louis Proyect lnp3 at panix.com
Fri Apr 3 14:19:12 MDT 2015

Capitalists in the North profited by investing in banks that handled the 
exchange of money for people, or in insurance companies that provided 
insurance for the owners’ investments in enslaved people. So did foreign 
investors in Southern securities, some of which were issued on mortgaged 
slaves. The hotbed of American abolitionism — New England — was also the 
home of America’s cotton textile industry, which grew rich on the backs 
of the enslaved people forced to pick cotton. The story of America’s 
domestic slave trade is not just a story about Richmond or New Orleans, 
but about America.


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