The Scarcity Of Land During Virginia Made Planters Or Male Members With Their Families

1741 Words Dec 2nd, 2015 7 Pages
The scarcity of land in Virginia made planters or male members with their families move further West in search of free arable land. This migration spiked the demand for slaves, until 1808 this demand was met by a supply of slaves shipped from Africa. After 1808 the Trans-Atlantic trade ceased (at least officially), and the only legal means of acquiring of slaves was the domestic trade. After the 1820s, the domestic slave trade was commonly accepted as a ‘big business’, and the rise of cotton cultivation (King Cotton phenomenon) together with the federal ban on the slave import from Africa drove profits ever higher. As Gudmestad pointed out, by now the migration of white population to the West had declined, and the demand for work force employed in cotton planting resulted in increased slaves purchases._As Deyle summarizes the financial outline of the domestic slave trade, by the beginning of the Civil War the money equivalent of slaves purchased as a reliable investment amounted to 3 billion dollars, which at that period was three times more than money invested in manufacture across the whole United States, made sevenfold value of all currency running in the national economy and was 48 times larger than the whole budget of the federal government. It was the second most valued investment by the Southern businessmen and planters, after land investment. This scale of trade and costs invested into it inevitably led to desire to protect the business at any price. Entahat…

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