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Genesis of the Industrial Capitalist.
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West Indies, between Africa and Spanish America as well. England thereby acquired the right of supplying Spanish America until 1743 with 4800 negroes yearly. This threw, at the same time, an official cloak over British smuggling. Liverpool waxed fat on the slave-trade. This was its method of primitive accumulation. And, even to the present day, Liverpool “respectability” is the Pindar of the slave-trade which—compare the work of Aikin [1795] already quoted—“has coincided with that spirit of bold adventure which has characterised the trade of Liverpool and rapidly carried it to its present state of prosperity; has occasioned vast employment for shipping and sailors, and greatly augmented the demand for the manufactures of the country” (p. 339). Liverpool employed in the slave trade, in 1780, 15 ships; in 1751, 53; in 1760, 74; in 1770, 96; and in 1792, 132.

Whilst the cotton industry introduced child-slavery in England, it gave in the United States a stimulus to the transformation of the earlier, more or less patriarchal slavery, into a system of commercial exploitation. In fact, the veiled slavery of the wage-earners in Europe needed, for its pedestal, slavery pure and simple in the new world.[1]

Tantæ molis erat, to establish the “eternal laws of Nature” of the capitalist mode of production, to complete the process of separation between labourers and conditions of labour, to transform, at one pole, the social means of production and subsistence into capital, at the opposite pole, the mass of the population into wage-labourers, into “free labouring poor,” that artificial product of modern society.[2] If

  1. In 1790, there were in the English West Indies ten slaves for one free man, in the French fourteen for one, in the Dutch twenty-three for one. (Henry Brougham: An Inquiry into the Colonial Policy of the European Powers. Edin. 1803, vol, II. p. 74.)
  2. The phrase, “labouring poor,” is found in English legislation from the moment when the class of wage-labourers becomes noticeable. This term is used in opposition, on the one hand, to the “idle poor,” beggars, etc., on the other to those labourers, who, pigeons not yet plucked, are still possessors of their own means of labour. From the Statute Book it passed into political economy, and was handed down by Culpeper, J. Child, etc., to Adam Smith and Eden. After this, one can judge of the good faith of the “execrable political cant-monger,” Edmund Burke, when he called the expression, “labouring poor,”—“execrable political cant.” This sycophant who, in the pay of the English oligarchy, played the romantic laudator temporis acti against the French Revolution, just as, in the pay of the North Ameri-