The transatlantic slave trade was a major part of the British economy in the 18th century. In the 1700s, Britain was the largest slave-trading nation in the world, transporting more than 2 million enslaved Africans to the Americas. The slave trade was a lucrative business, generating millions of pounds in profits for British merchants and plantation owners.
The fight against the slave trade began in the late 18th century, led by a group of abolitionists, including William Wilberforce. Wilberforce was a devout Christian who believed that slavery was morally wrong. He and his fellow abolitionists campaigned for the abolition of the slave trade and the eventual emancipation of enslaved Africans.
In 1787, Wilberforce introduced the first bill to abolish the slave trade in the House of Commons, but the bill was defeated. He continued to introduce the bill every year, but it was not until 1807 that it was finally passed. The Slave Trade Act of 1807 abolished the British slave trade, but slavery itself was not abolished in the British Empire until the Emancipation Act of 1833.
How much of the British economy was dependent upon the slave trade?
The slave trade was a major part of the British economy in the 18th century. It is estimated that the slave trade generated about 2% of Britain's GDP in the 1700s. This may not seem like a large amount, but it was a significant amount of money at the time. The slave trade also supported other industries, such as shipbuilding, insurance, and finance.
The abolition of the slave trade in 1807 had a negative impact on the British economy. The loss of the slave trade resulted in a decline in the British shipping industry and other related industries. However, the British economy was able to recover from the loss of the slave trade by diversifying into other sectors, such as manufacturing and trade.