USA HISTORY

Detailed explanation-1: -Many southerners used slaves as collateral regularly in the antebellum south in order to pay for some necessary item or to loan money from someone. Often, slaves were used as collateral to buy land. This process of using slaves as collateral dates back to the beginning of the slave trade.

Detailed explanation-2: -In the British colonies the slaves were treated as non-human: they were ‘chattels’, to be worked to death as it was cheaper to purchase another slave than to keep one alive. Though seen as non-human, as many of the enslaved women were raped, clearly at one level they were recognised as at least rapeable human beings.

Detailed explanation-3: -Slave trading was the central business of British companies such as the Royal African Company (RAC) and South Sea Company (SSC). Whilst the Bank of England was not directly involved in this way, it became linked to the slave trade through its role in the wider financial system.

Detailed explanation-4: -Triangular slave trade The triangular trade worked to maximise profits. English goods were traded in Africa, from where enslaved people were carried on the infamous middle passage across the Atlantic to the Caribbean and America. Goods produced in the New World were transported back to England.