Set all free - Act to end slavery

Business and Finance

Coffee and slavery were prominent in the history of Lloyd’s of London, the world famous insurance company. Lloyd’s was formerly a coffee house which also doubled as the place of return for runaway enslaved Africans. However, by the 19th century it was a major insurer of slave ships, courtesy of German-born John Julius Angerstein who oversaw its expansion during this period. Angerstein moved to England in the 1750s and became an avid art collector. After his death in 1823, his vast collection of works was bought for the nation and ‘formed the original nucleus of the National Gallery’s collection’.

Former governor of the Leeward Islands Sir Christopher Codrington left a large and rare book collection to Oxford’s All Souls College. The Colonel’s will also left monies to build a library at the college. The Codrington family were one of the major plantation owners in the Caribbean owning slaves and sugar estates on many of the Anglophone islands.

The Barclay brothers, David and Alexander, were involved in the slave trade. These Quaker siblings were merchants in the ‘African Trade’ and David even owned a plantation in Jamaica. After marrying into banking families they established Barclays Bank – one of the leading banks in Europe today.

Another famous bank, Barings, also has roots in the slave trade. Sir Francis Baring, the founder became involved in the slave business while still a youth and the monies he accrued from this trade helped to establish the bank and other financial ventures.

Moreover, during the 18th century many of the Bank of England’s Directors and Governors were involved in slavery. Men such as Humphry Morice, MP (a director, deputy governor and governor respectively), owned slave ships which where named after his children, Sir Richard Neave, who held similar positions in the Bank to Morice, was Chair of the Society of West India Merchants. Thomas Raikes, another director-cum governor had familial links to West Indian merchants; as did William Manning, who served as director in the late 18th and early 19th century, before assuming the role of governor in 1812.

Irish-born physician and collector Sir Hans Sloane is more known for being the President of the Royal Society and the square (Sloane Square in London) that bears his name. However, he had dealings in the sugar and cocoa business – he was famous for his drinking chocolate – which was slave-based. Moreover, his wife, Elizabeth, had considerable slave-based interests in Jamaica. The wealth from both the former and latter helped Sir Hans to amass a collection of coins, medals, manuscripts, books and prints which ‘became the nucleus of the British Museum’ after the his death.

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