3 Congress-persons inherited wealth from slavery
Page 1 of 1 [ 2 posts ]
https://www.reuters.com/investigates/sp ... wtab-en-us
Quote:
The forebears of three members of Congress regained – and passed forward – wealth and power their families lost when slavery was abolished. Their success shows how the Southern elite exploited Black Americans in new ways.
About a month after the Civil War began, a slaveholding ancestor of current U.S. Congressman French Hill seemed confident about the future. “Lincoln can’t starve me out unless he takes my land and negros,” plantation owner Creed Taylor wrote to a relative.
By the time the war ended in 1865, President Abraham Lincoln had freed the enslaved, including at least 70 who worked Taylor’s cotton fields here. But Taylor’s family found a path back to prosperity that didn’t look much different from the way he had first made his fortune.
Taylor still owned at least 1,500 acres of farmland. By the turn of the 20th century, his grandson oversaw a sprawling cotton operation that would eventually grow to more than 10 times the size of Taylor’s farm. And for years, the fields would be worked once again by Black people who didn’t have a choice.
Emancipation dealt many slaveholders a staggering economic blow, wiping out vast amounts of wealth across the South. In 1870, five years after the war ended and about 4 million Black people were freed from slavery, the states that once made up the Confederacy were enduring one of the largest wealth shocks in American history. The reported wealth of Southerners dropped by $4.3 billion, or about 65%, from a decade earlier, a Reuters analysis found. Put another way, war and emancipation appear to have erased about two-thirds of wealth in the South.
Those who lost the most, like Congressman Hill’s direct ancestor, were the largest enslavers. They also had the clearest path to rebuilding – often by replicating elements of the slavery economy and reinstituting feudal systems that embraced white supremacy.
The Black people who had been enslaved emerged with far less. Racial violence and voting laws locked them out of political power. Schooling was limited, leaving most unable to read and write. The federal government let former slaveholders keep their land, and the newly freed were afforded few paths to prosper – leaving them once again at the mercy of the white elite.
In a report published in June, Reuters found that a fifth of the U.S. political elite – congressional members, living presidents, Supreme Court justices and governors – are direct descendants of slaveholders in America. Among the richest just before the Civil War were the forebears of three members of today’s Congress: Hill, Representative Dina Titus and Senator John Kennedy. Each had a slaveholding ancestor who was among the wealthiest 1% of Americans in 1860, Reuters found. By 1870, each of those forebears had lost between 60% and 90% of their wealth....
_________________
Semen retentum venenum est
And ironically Donald Trump is the only US president who's ancestors did not own slaves. That also includes Obama.
https://www.google.com/amp/s/www.busine ... 23-6%3famp
_________________
A flower's life is wilting...
Page 1 of 1 [ 2 posts ]
Similar Topics | |
---|---|
King Charles acknowledges 'painful' slavery past |
25 Oct 2024, 12:17 pm |
Connecticut's Congress members targeted with bomb threats |
28 Nov 2024, 3:35 pm |