The main beneficiaries of the Slave Trade
Introduction
Britain's slave merchants made a profit of £12 million on the 2.5 million slaves they bought and sold between 1630 and 1807. This was an enormous profit, and had an enormous effect on the British economy, Ports merchants, Plantation Owners and London (with the West India Lobby's help). All in all, the slave trade played a huge part in turning Britain into a powerful and rich industrial country.
The importance of London
By 1750, London merchants were handling about 75% of the sugar imported into Britain. Comission agents helped them whilst themselves, making a good profit. The slaves' merchants' agents paid for slaves and supplies with a written note promising payment within two years.The West India lobby was made up of three sorts of people. Comission agents, absentee proprietors, plantation owners who didn't live in the West indies but lived in London, about forty of them were MP's who voted in the houses of commons, supporting the slaves trade in the interest of the plantation owners and the political agents, who were paid to press their interests in London. The lobby pressed hard for what they wanted.
The Ports which gained from the Slave Trade
In 1700, Bristol and Liverpool had been two small fishing ports. Liverpool had had around 5,000 inhabitants and Bristol around 20,000. 100 years later over 78,000 lived and worked in Liverpool and 64,000 in Bristol. Both these previously small ports had become prosperous international trading centres. ' ... Sumptuous mansions, Luxurious living and uniformed servants were the produce of the wealth made from the sufferings and groans of the slaves bought and sold by the Bristol merchants.' anonymous local historian and resident of Bristol in the 19th century. 'The slave trade was the pride of Liverpool, for it flooded the town with wealth which invigorated every industry ... Beyond a doubt it was the slave trade which raised Liverpool from a struggling port to be one of the richest and most prosperous trading centres in the world.
The Plantation Owners
Many plantation owners made a fortune. Some settled in Britain on enormous counrty estates, others built large town houses in London. Some used their wealth to buy seats in the House of Commons and others used their money to equip libraries at Oxford University.
The Industries
Ships travelling to African countries carried metals and guns to exchange for the slaves as well as salted meat and tripe to feed the slaves and they even took clothes for the plantation owners to give to the slaves. The ship building industry therefore increased, however none of this would have been possible without the ports.
Commission Agents
They paid for the slaves and goods in the Caribbean with a written note, which promised payment within two years. In order to make a profit for themselves, they kept 10% of the paid money, and seeing that the money was paid at the right time.They became part of a powerful pressure group, which pushed the interests of thhhe owners in political debates and business and commerce.
Political Agents
They worked for the West Indian assemblies and were paid by the assemblies to press their interests in london. The lobbty pushed hard for what they wanted, for example in 1763, they demanded that Canada became part of the British Empire, and not the islands of Guadeloupeor Martinique in order to keep the prices of sugar higher, with the supply being lower.
Absentee Aproprietors
Were Plantation Owners, who didn't live in the Caribbean or America, but lived in London, forty of whom were MP's in Parliament and voted in the interest of the slave trade.
