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In 1713 an agreement between Spain and Britain granted the British a monopoly on the trade of enslaved people with the Spanish colonies. Under the Asiento de negros, Britain was entitled to supply those colonies with 4,800 enslaved Africans per year for 30 years.
Traders sold slaves in South America, the West Indies, and the British colonies in North America.In the third part of the triangular trade, traders took American goods, such as tobacco and sugar, to Europe. Then they took goods made in Europe to Africa. There, they traded the goods for even more slaves.
A triangle shaped trading route that consisted of The Colonies, Europe, Africa, and The Indies.
As more traders began using “triangular trade,” demand for colonial resources rose, which caused two tragic changes in the economy: More and more land was required for the collection of natural resources, resulting in the continuing theft of land from Native Americans.
TRIANGULAR TRADE. At least two overlapping patterns of trans-Atlantic trade developed in the colonial era whereby profits from rum and other American and British manufactured goods sold on the west coast of Africa financed the purchase of enslaved Africans.
Triangle trade allowed for Europe’s economic development in many ways. Trade with Africa and the Americas allowed for increased access to raw goods and the growth of the shipping industry, which in turn led to additional jobs for Europeans.
The slave trade had long lasting negative effects on the islands of the Caribbean. The native peoples, the Arawaks, were wiped out by European diseases and became replaced with West Africans.
The transatlantic slave trade began during the 15th century when Portugal, and subsequently other European kingdoms, were finally able to expand overseas and reach Africa. The Portuguese first began to kidnap people from the west coast of Africa and to take those they enslaved back to Europe.
The colonists were major beneficiaries of the Triangular Trade. The colonists received African labor to work plantations in the Caribbean and in North America. The colonists also had a market for their raw materials in Europe, especially Britain.
The triangular trade had several notable impacts on Europe, including massive profit opportunities, increased access to raw goods, more political power and colonization outside Europe, and the rise of the Industrial Revolution.
The slave trade had devastating effects in Africa. Economic incentives for warlords and tribes to engage in the slave trade promoted an atmosphere of lawlessness and violence. Depopulation and a continuing fear of captivity made economic and agricultural development almost impossible throughout much of western Africa.
The triangle, involving three continents, was complete. European capital, African labour and American land and resources combined to supply a European market. The colonists in the Americas also made direct slaving voyages to Africa, which did not follow the triangular route.
President Abraham Lincoln
Slavery itself was abolished everywhere in the British Empire in 1834. Some Canadian jurisdictions had already taken measures to restrict or end slavery by that time. In 1793 Upper Canada (now Ontario) passed an Act intended to gradually end the practice of slavery.
Triangular Trade, coupled with the policy of Mercantilism, provided a “favorable balance of trade” so that gold and silver would not flow out of England to purchase raw materials and food from the colonies. Neither would gold and silver flow out of the colonies for much needed manufactured goods.
What did the Virginia Law say in respect to a child’s freedom? Children born would be bonded or free according to the status of their mother. What was the punishment for a slave who Murdered? They would be hanged.
The most lucrative cash crops to emerge from the Americas in the seventeenth and eighteenth centuries were sugar, tobacco, and rice. Cotton agriculture did not become a major feature of the U.S. southern economy until the early nineteenth century.
Four continents were a part of the triangular trade. They were Europe, Africa, and the Americas (North and South).
Types of Slavery