There are many reasons why African Americans do not have the legacy of success enjoyed by other racial groups and emigrants to America. In celebration of Black History Month here are some financial American History facts from our Did You Know section that have created the America we know today.
Did You Know: The slave trade from 1600 to 1827 was primarily responsible for making New York the richest city in the world.
Slavery was not just about the southern plantation. It was big business in New York. During the period 1 out of every 5 New Yorkers was enslaved. At its peak the margin of profit for selling a slave was just above 369 percent. At its low point the profit margin was still 94 percent. For example, in 1675, a slave could be purchased in Africa for today’s equivalent of $355 and later sold in New York for $3,793.
