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Indentured Servitude: The Philadelphia Market, 1771–1773

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  • Heavner, Robert O.

Abstract

In the 1770s Philadelphia had a well developed indentured servant market which served the city and the surrounding region. This market had many attributes of rational labor and physical capital markets and provided a means for financing migration and education. This study is of indenture records which include prices, term lengths, employer-provided amenities, and servant attributes to test hypotheses based on a rational buyer model. Results indicate that in response to the riskiness of a servant, the buyer used indexes of servant productivity and reliability; that the servant paid for amenities offered by the master, such as general education; and that there was a seasonal pattern of prices corresponding to seasonal activities of agriculture.

Suggested Citation

  • Heavner, Robert O., 1978. "Indentured Servitude: The Philadelphia Market, 1771–1773," The Journal of Economic History, Cambridge University Press, vol. 38(3), pages 701-713, September.
    • Handle: RePEc:cup:jechis:v:38:y:1978:i:03:p:701-713_08
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