The Stolen Wealth of Slavery: A Case for Reparations

The Stolen Wealth of Slavery is a powerful and eye-opening book that reveals the truth about the massive wealth amassed by Northern corporations during America's history of enslavement. It challenges the myth that the North was not complicit in slavery and reveals that large Northern banks were critical to the financing of slavery and saw their fortunes rise dramatically from their involvement in the business of enslavement. The book also shows that most white Southern enslavers were not rich and that Northern businesses benefited the most from bondage-based profits. It calls for corporate reparations and highlights contemporary movements to hold companies accountable for past atrocities.

Format: Hardback
Length: 368 pages
Publication date: 29 February 2024
Publisher: Hachette Books

In this comprehensive and compelling historical account, Emmy Award-nominated journalist David Montero delves into the trail of the immense wealth amassed by Northern corporations throughout America's history of enslavement. It has long been assumed by many that the North played no role in the atrocities of slavery. However, the truth is that significant Northern banks, including well-known institutions like Citibank, Bank of New York, and Bank of America, played a crucial role in financing slavery. These banks witnessed a substantial increase in their fortunes as a result of their involvement in the slave trade. Moreover, white business leaders and their surrounding communities derived enormous wealth from the enslavement and exploitation of Black bodies.

The Stolen Wealth of Slavery challenges prevailing notions by revealing that most white Southern enslavers were not wealthy, with Northern businesses reaping the greatest benefits from bondage-based profits. Furthermore, some Northerners who were perceived as pro-Union during the Civil War were, in fact, anti-abolition, viewing slavery as being in their best financial interests. They only supported the Union once they realized that it would be advantageous for business. It is a misconception that the wealth generated from slavery disappeared after the war. Instead, it played a significant role in financing the industrialization of the country and became a foundation of the growth of modern corporations, contributing to America's transformation into a global economic powerhouse.

In this remarkable book, Montero presents a detailed and meticulously researched account of the widespread Northern investment in slavery. He meticulously outlines the specific assets that were stolen, the individuals responsible for the theft, and the rightful owners of these assets. Montero advocates for corporate reparations as he details the ongoing impact of slavery on contemporary society. He emphasizes the need for corporations to acknowledge their historical involvement in slavery and to make amends for the harm caused.

The Stolen Wealth of Slavery is a groundbreaking work that sheds light on a previously obscured chapter of American history. It challenges the notion of a morally upright North and exposes the complicity of Northern institutions in perpetuating slavery. This book is a must-read for anyone interested in understanding the complex and profound consequences of slavery and the ongoing struggle for racial justice.

Weight: 558g
Dimension: 164 x 237 x 33 (mm)
ISBN-13: 9780306827174