The Present Study is an attempt to place in historical perspective the relationship between early capitalism as exemplified by Great Britain, and the Negro slave trade, Negro slavery and the general colonial trade of the seventeenth and eighteenth centuries. Every age rewrites history, but particularly ours, which has been forced by events to reevaluate our conceptions of history and economic and political development. The progress of the Industrial Revolution has been treated more or less adequately in many books both learned and popular, and its lessons are fairly well established in the consciousness of the educated class in general and of those people in particular who are responsible for the creation and guidance of informed opinion. On the other hand, while material has been accumulated and books have been written about the period which preceded the Industrial Revolution, the world-wide and interrelated nature of the commerce of that period, its direct effect upon the development of the Industrial Revolution, and the heritage which it has left even upon the civilization of today have not anywhere been placed in compact and yet comprehensive perspective. This study is an attempt to do so, without, however, failing to give indications of the economic origin of well-known social, political, and even intellectual currents.
The book, however, is not an essay in ideas or interpretation. It is strictly an economic study of the role of Negro slavery and the slave trade in providing the capital which financed the Industrial Revolution in England and of mature industrial capitalism in destroying the slave system. It is therefore first a study in English economic history and second in West Indian and Negro history. It is not a study of the institution of slavery but of the contribution of slavery to the development of British capitalism.
Many debts must be acknowledged. The staffs of the following institutions were very kind and helpful to me: British Museum; Public Record Office; India Office Library; West India Committee; Rhodes House Library, Oxford; Bank of England Record Office; the British Anti-Slavery and Aborigines Protection Society; Friends’ House, London; John Rylands Library, Manchester; Central Library, Manchester; Public Library, Liverpool; Wilberforce Museum, Hull; Library of Congress; Biblioteca Nacional, Havana; Sociedad Económica de Amigos del País, Havana. I wish to thank the Newberry Library, Chicago, for its kindness in making it possible for me, through an inter-library loan with Founders’ Library, Howard University, to see Sir Charles Whitworth’s valuable statistics on “State of the Trade of Great Britain in its imports and exports, progressively from the year 1697–1773.”
My research has been facilitated by grants from different sources: the Trinidad Government, which extended an original scholarship; Oxford University, which awarded me two Senior Studentships; the Beit Fund for the study of British Colonial History, which made two grants; and the Julius Rosenwald Foundation, which awarded me fellowships in 1940 and 1942. Professor Lowell J. Ragatz of George Washington University in this city, Professor Frank W. Pitman of Pomona College, Claremont, California, and Professor Melville J. Herskovits of Northwestern University, very kindly read the manuscript and made many suggestions. So did my senior colleague at Howard University, Professor Charles Burch. Dr. Vincent Harlow, now Rhodes Professor of Imperial History in the University of London, supervised my doctoral dissertation at Oxford and was always very helpful. Finally, my wife was of great assistance to me in taking my notes and typing the manuscript.
Eric Williams
Howard University
Washington, D.C.
September 12, 1943