Who benefited from the Transatlantic Slave Trade?
In the Transatlantic Slave Trade, triangle ships never sailed empty and some people made enormous profits. This Slave Trade was the richest part of Britain’s trade in the 18th century. James Houston, who worked for a firm of 18th-century slave merchants, wrote, “What a glorious and advantageous trade this is… It is the hinge on which all the trade of this globe moves.” Between 1750 and 1780, about 70% of the government’s total income came from taxes on goods from its colonies. The money made on the Transatlantic Slave Trade triangle was vast and poured into Britain and other European countries involved in slavery, changing their landscapes forever. In Britain, those who had made much of their wealth from the trade built fine mansions, established banks such as the Bank of England and funded new industries. Who profited? • British slave ship owners – some voyages made 20-50% profit. Large sums of money were made by ship owners who never left England. • British Slave Traders – who boug
