Gene Dattel Quotes & Sayings

As demand for cotton grew, slavery was considered indispensable as a means of maximizing profit for this labor-intensive staple crop. Equally important, as we shall see, slaves could be financed - that is, purchased on credit. In financial parlance this is called leverage. Planters had one objective: increased cotton production. Arguments about the optimum size of a cotton farm are irrelevant because of slavery's financing characteristic. Simply put, the goal was more cotton, which called for financing the purchase of more land and more slaves. Because a mechanical means of solving cotton's production needs did not exist until the mid-twentieth century, cotton demanded an endless supply of black bodies as long as the price of cotton permitted financing. The Northerner Frederick Law Olmsted, — Gene Dattel