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It is not surprising that we can nonetheless really feel the looming presence of this institution, which helped turn a poor, fledgling nation right into a financial colossus. The shocking bit has to do with the many eerily specific methods slavery can nonetheless be felt in our economic life. “American slavery is necessarily imprinted on the DNA of American capitalism,” write the historians Sven Beckert and Seth Rockman. Financial account for standard orders – in case of cancellation, it is going to be simpler for the company workers to switch the money back to the customer’s account.

It is the tradition that brought us the Panic of 1837, the stock-market crash of 1929 and the recession of 2008. It is the culture that has produced staggering inequality and undignified working situations. And New York City’s investment in slavery expanded within the nineteenth century. New Yorkers invested heavily in the growth of Southern plantations, catching the wave of the first cotton increase.

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