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Why Was Slavery Important To The Economy

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Why Was Slavery Important To The Economy
Slavery was the focal point of the United States economy, for example, "southern banks financed slaves trading, southern ships and railroads carried slaves from buyers to sellers, and southern state and municipalities earned revenue by taxing the sale of slaves" (395). In other words, slavery was important to the economy because banks, railroads, and states relied heavily on slavery to acquire money. The economy revolved around slavery. In addition, New Orleans which was the sixth largest city, showed that "slavery and economic growth could go hand in hand" (397). This was true, because whites who were involved in trading and selling slaves "proved to be very profitable" (397).
Even though numerous southerners did not own slaves, "fewer and
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