Profiting from Slavery and Emancipation: Compensation, Capital, and Collateral in Nineteenth-Century Senegal

The relationship between capitalism and slavery has been contentious because, in the Atlantic economy, enslaved people functioned as commodities, as labor, and as assets. The transition away from the Atlantic slave-trading system across the nineteenth century affected the stakeholders in these economic functions differently. Compensated emancipation in Senegal provides an opportunity for thinking about the possibilities and limitations of compensation in facilitating capital's continuity. This article traces how individuals who had invested in enslaved labor managed the transition of emancipation and reinvested their compensation claims. It explores how the process of compensation addressed the problem of commercial debt in ways that allowed for a continuity of many of Senegal's urban business elite and their family firms through the end of the nineteenth century.