Benefits of Slave Trade
Although it is nowadays an illegal activity, slave trade offered numerous benefits that cannot be overlooked. In fact, slave trade help propel America as a leading producer of various types of goods. This was achieved through the use of slaves who provided cheap labor. Learn the slave trade benefits below.
1. New experience
The primary benefit for workers during slave trade was the capability of making the great journey to a new world. The workers had to enter a contract and then they were given a place on the ship for making the long journey. The cost of the trip was paid by the people hiring the slaves or the agency through which slaves are booked. Furthermore, once they arrived in America, some contracts awarded the servants a stipend.
2. Benefits plantation owners
Slave traded offered great benefits to the main plantation owners. For example, through acquiring slaves, the owner of a plantation could quickly and effortlessly stock his farms with a huge group of employees. These slaves would assist in tending to the everyday needs of the farm, from maintenance up to harvesting. The high profits due to slave trade fostered the development of many western nations. These countries had all the capital they required for setting up towns due to slave labor.
3. Increases profits
Through hiring cheap slaves, businesses were able to enhance their profit margins. When a firm had hired cheap workers, less money would be spent paying these workers. Moreover, a large number of workers means that more work will be done and thus more products. When such products were sold at high prices, better profits were realized and this allowed for an affluent lifestyle for the managers.
Regrettably, slave trade was very harsh on the slaves as they could find themselves working for long hours and in harsh environments.