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The Antebellum Slave Trade: Numbers and Impact on the Balance of Payments

In: Research in Economic History

Author

Listed:
  • Lawrence H. Officer
  • Samuel H. Williamson

Abstract

We develop the concept of the slave-trade balance of payments and generate its table for the United States for 1790–1860. In the process, we construct new data for the slave trade, including both the physical movement and revenue figures, and we analyze these numbers. The balance of payments includes slave imports, carrying trade in slaves, purchases of slaves that fail to be imported, outfitting and provisioning slave ships, and slave-ship sales. The slave-trade balance is integrated into the standard balance of payments. Among the findings are the following: slave imports were dominated by natural growth except for one decade; US ships had the greater role than foreign ships in the import trade, but were of small—and eventually nil—consequence in the carrying trade; federal and state laws to prohibit the slave trade in all its aspects were generally effective; and the slave-trade balance of payments was a small component of the overall balance.

Suggested Citation

  • Lawrence H. Officer & Samuel H. Williamson, 2020. "The Antebellum Slave Trade: Numbers and Impact on the Balance of Payments," Research in Economic History, in: Research in Economic History, volume 36, pages 181-212, Emerald Group Publishing Limited.
    • Handle: RePEc:eme:rehizz:s0363-326820200000036006
    DOI: 10.1108/S0363-326820200000036006
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    More about this item

    Keywords

    Slave trade; balance of payments; slave-trade legislation; slave population; smuggling of slaves; slave ships; price of slaves; N11; N41; N71;
    All these keywords.

    JEL classification:

    • N11 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - U.S.; Canada: Pre-1913
    • N41 - Economic History - - Government, War, Law, International Relations, and Regulation - - - U.S.; Canada: Pre-1913
    • N71 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - U.S.; Canada: Pre-1913

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