There is a great deal of evidence that slavery was profitable, and some
that it was not. Slavery increased very rapidly in the first two decades
of the history of the state. From 1790 to 1800 there was an increase
of 297.54 per cent, and from 1800 to 1810 an increase of 229.31 per
cent.[27] Slave population increased only 79.06 per cent in the next
decade, and only 244.19 per cent from 1820 to 1860. This decrease in
percentage from 1820 to 1860 is in face of the fact that West Tennessee,
the Black Belt part of the state, was settled and populated during this
period. This evidently means that slavery was not making much progress in
East and Middle Tennessee.
Slaves increased in value very rapidly in Tennessee from 1790 to about
1836. They were worth only $100 each in 1790, but by 1836 they were
valued at $584.[28] They decreased in value to $413.72 by 1846. They
reached the 1836 mark again in 1854, and by 1860 were valued, for
purposes of taxation, at $900.[29] This valuation was largely controlled
by the price of cotton. The average price of cotton for the decade ending
1830 was 13.3 cents per pound; for the decade ending 1840, 12.4 cents;
for the decade ending 1850, 8.2 cents; and for the five years ending
1855, 9.6 cents.[30] The values and prices of Tennessee slaves and cotton
only roughly corresponded to those of the United States at the same time.
In 1792, the average value of a slave in the United States was $300, and
in 1835 it was $900, and $600 in 1844.[31] Upland cotton was worth 17½
cents per pound in New York City in 1835 and 7½ cents in 1844. It was
generally held that a difference of one cent a pound in the price of
cotton made a difference of $100 in the price of slaves, but this could
not apply to the above prices.
Public-domain text, read in full here on John Shaqi.
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