Massachusetts legislation would estimate profit from slave trade
BOSTON—Massachusetts, which boasts a history of abolitionism, is considering legislation to determine how much the state and local institutions profited from the African slave trade.
A bill before the legislature would require some of Massachusetts oldest banking, financial and insurance companies to look deep into their history -- and the histories of subsidiaries and predecessor companies -- to uncover links to the slave trade, as a condition of doing business with the state.
It also would authorize the secretary of state to produce a book documenting to what extent the state, since the times of the Massachusetts Bay and Plymouth colonies, benefited from slavery, whether through taxes or economic growth.
The bill's sponsor, Rep. Byron Rushing, D-Boston, said understanding that difficult history is key to any future discussion of apologies or reparation claims tied to slavery. He said most people underestimate the economic significance of slavery to the growth of the country and the state.
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A bill before the legislature would require some of Massachusetts oldest banking, financial and insurance companies to look deep into their history -- and the histories of subsidiaries and predecessor companies -- to uncover links to the slave trade, as a condition of doing business with the state.
It also would authorize the secretary of state to produce a book documenting to what extent the state, since the times of the Massachusetts Bay and Plymouth colonies, benefited from slavery, whether through taxes or economic growth.
The bill's sponsor, Rep. Byron Rushing, D-Boston, said understanding that difficult history is key to any future discussion of apologies or reparation claims tied to slavery. He said most people underestimate the economic significance of slavery to the growth of the country and the state.