The Slave Trade

Impact on British Ports

London

• Banks and insurance companies (eg. Lloyds of London and Barclays Bank) grew as loans were taken out to fund the ships and voyages were insured

• The West India docks were built there to provide warehouses for trade goods

Liverpool

• Population increased massively

• Industries that benefited: linen, glass, leather, metal good

Bristol

• Industries that benefited: Bottles, pots and pans, gunpowder, glass ornaments, copper sheathing

What was good about these ports?

London

• Insurance companies and banks - it was close to the city

• They had a monopoly on the trade for a period as they were the only port allowed to trade in enslaved people

Bristol

• Its geographical location - it faced directly into the atlantic so you could sail to West Africa or go straight to the Caribbean

• Its merchants had a reputation for entrepreneurship as they had links with plantation owners and african chiefs

Liverpool

• Its deep harbour meant that ships could come and go regardless of the tide reducing berthing fees

• It hired inexperienced sailors which meant they were cheaper attracting merchants

• It was close to the isle of man where there were no import duties on goods so people went to get stuff cheaper there.

Why did Brits support the trade

• Provided the navy with trained sailors in times of war

• provided the government with a source of taxes

• Individuals made huge personal profit - eg dollar academy

• employment

• racism

• people didnt want the government to have to pay compensation if the trade was abolished

Why did the trade benefit british economy

• Huge wealth was brought to the cities

• Jobs created

• Provided market for manufactured goods

• Slave grown goods processed in factories eg cotton in manchester

• docks in ports expanded

• banks grew

• insurance companies grew