Economic Argument for ST

Question 1

What is mercantilism?

Answer 1

Commercialism, or a belief in a profitable trade

Question 2

What was Eric William’s argument?

Answer 2

• Capitalism and Slavery
• Mature industrial capitalism helped destroy the slave system
• As the profits of slavery declined, so did British commitment to the slave trade and it became easier to criticise
• Only challenged because it became unprofitable
• Preference for paid labour

Question 3

What were the arguments against Williams?

Answer 3

Economic considerations were the primary motive for abolition, reducing the importance of other factors

Question 4

What was Seymour Dreshcer’s argument

Answer 4

• Britain’s abolition of the slave trade in 1807 resulted not from the diminishing value of slavery for Great Britain but instead from the British public’s mobilisation against the slave trade, which forced London to commit what Drescher terms “econocide.”
• Abolished the ST did more to undermine the slave economy

Question 5

Adam Smith’s argument

Answer 5

• Slavery was not economically viable
• Best was freely with no government interference

Question 6

What did some suggest about the declining economics of the slave trade?

Answer 6

That growth of industrialisation and new economic theories argued of the benefits of paid labour

Question 7

How did the ST support the economy with the building of Slave Ships?

Answer 7

By creating a demand for ships, it created thousands of jobs for such industries

Question 8

How did the ST improve trade?

Answer 8

It built a network between the West Indies, Britain, the Americas and West Africa, creating export markets, Slave ports became centres of excessive wealth

Question 9

What percentage of between when did Britain’s textile output went abroad to African markets

Answer 9

1784-86 and 1805-07, 87%

Question 10

What was the importance of the African markets?

Answer 10

Could still use during the Napoleonic wars when European market was excluded

Question 11

What did the British trade with Africa for slaves?

Answer 11

Textiles, guns, ammunition, cloth

Question 12

Why was the Slave Trade in economic decline?

Answer 12

Industrialisation and the factory system, showing more potential for the future

Question 13

What was the problem with ships?

Answer 13

They were expensive and this was money that had to be spent before profit was generated

Question 14

What was the problem when ships were on voyages?

Answer 14

Traders stood to lose a lot of money in the event of problems at sea or a failure to get a good price for their cargo

Question 15

What was the stats of revolts on slave ships?

Answer 15

1 in every 10 slave ships

Question 16

What was the problem with harvests?

Answer 16

If they were not successful then the cost of maintaining them was very high

Question 17

Between the years 1772-1778 how much had merchants in Liverpool lost?

Answer 17

£700,000

Question 18

What and when was the Dolben Act?

Answer 18

1788, placed limitations on the number of enslaved Africans that British slave ships could transport