9 Facts Proving Slavery Was Responsible for American and European Economic Success


zafra01sCollateral and Taxation
Enslaved Africans represented legal property. Individually and collectively, they were frequently used as collateral in all kinds of business transactions. They were also traded for other kinds of goods and services. In many cases, the enslaved were used to pay off debts held by the owner. The estimated value of the enslaved was calculated in the value of estates, becoming a tax revenue source for local and state governments. There were also taxes to be paid on slave transactions.

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