Economic/Financial Factors As A Cause For The Abolition Of Slavery

Question 1

What economic ideology criticised slavery?

Answer 1

The growth of industrialisation saw an increased belief in the benefits of paid labour as increased motivation to work boosted productivity - slavery seen as a barrier to potential production

Question 2

What was Eric William’s thesis?

Answer 2

Decline thesis - argued humanitarians were selective in their support and should have broadened it to other areas relevant to Britain (I.e the poor mine conditions for workers)

Question 3

What did Eric Williams argue humanitarian motives were to abolish slavery?

Answer 3

Argued motivation was based off economic interest - slavery was only challenged in the 1790s when it was becoming unprofitable

Question 4

Why do historians challenge the Decline Thesis?

Answer 4

Solely basing the abolition of slavery on economic considerations is disregarding other factors

Question 5

What are the economic arguments against the Decline Thesis?

Answer 5

Slavery still profitable, movements to push abolishing the slave trade did more to decline the slave economy than vice-versa

Question 6

What were the humanitarian arguments against the Decline Thesis?

Answer 6

Quakers were actively promoting for abolition in the 1770s/80s - just lacked public support as more profitable

Question 7

How many slave voyages were there between the 16th and 19th century?

Answer 7

35,000

Question 8

What was the biggest slave port in the world in 1790?

Answer 8

Liverpool - controlled 3/7 of European trade

Question 9

How did the slave trade have economic implications within Britain?

Answer 9

Created job opportunities international markets increased demand for industrialised goods, so supply had to increase

Question 10

What % of Bristol’s income was based off the slave trade in 1780?

Answer 10

40%

Question 11

What were African markets main demand from Britain?

Answer 11

Textile goods - 87% of British textile output between 1803-07 went to West African markets

Question 12

What occurred in 1793 increasing reliance on trade?

Answer 12

Napoleonic wars

Question 13

How was the abolition movement able to gain momentum through economic ideas?

Answer 13

Laissezz-faire ideology, arguments that slavery was not cheap or efficient as paid labour as people more motivated to work if happy

Question 14

What other economic issues were being caused in slavery?

Answer 14

Payment of enforcement due to slave rebellions damaged profits

Question 15

What was the average annual profit in slavery in the 1790s?

Answer 15

Around £3 million in profits

Question 16

What issues were being caused on slave ships that damaged profits?

Answer 16

1 in 10 ships suffered from slave uprisings

Question 17

How were slave ships able to be built?

Answer 17

Investments from banks (Heywoods in Liverpool) - always happy to give loans due to 100% profit so minimal risk

Question 18

Why were banks becoming less willing to give loans to build ships?

Answer 18

Greater risk due to lack of guarantee of safety of ship, if slaves successfully took over then banks lose all money

Question 19

What economic issues were being created for planters?

Answer 19

Volatility of tobacco, sugar and cotton harvests created vulnerability for planters - becoming more of an issue in the late 1700s as more investment (greater scale) of slavery increased pressure

Question 20

Between 1772-1778, how much did Liverpool merchants lose on slavery?

Answer 20

£700,000

Question 21

How many Liverpool banks were bankrupt by 1788, and what economic issues did that cause?

Answer 21

12/30 bankrupt- banks less willing to lend for slavery as risk of losing business if investment failed

Question 22

What industry saw significant positive impact from slavery in Britain.

Answer 22

Textile, mainly in Lancashire - estimate slavery accounted for 50% of income

Question 23

Why did losses made by merchants not lead to the immediate abolishment of slavery?

Answer 23

Profits remained (3 million a year) so investment interest still remained as there were opportunities to make money

Question 24

What was the Dolben Act in 1788?

Answer 24

A restriction on the number of slaves a ship could carry based off their weight

Question 25

Why can the Dolben Act be used as an argument that economic benefits of slavery outweighed humanitarian views?

Answer 25

The Dolben Act was only done to improve the health of slaves to ensure profits were retained

Question 26

What occurred in the 1790s worsening price of sugar for planters?

Answer 26

Sugar boycott by over 300,000 Britains, large drop in demand for goods