Profiting from slavery
Wealth from enslaved labour flowed from the Caribbean to North-East Scotland. Many staff and graduates of Marischal and King’s Colleges in Aberdeen were active participants in the trade of enslaved people and also profited from enslaved labour.
In 1833, abolition included a massive payment of compensation to 46,000 British enslavers. The government raised £20 million, which was justified as a necessary step and a national sacrifice. Based on inflation, this would be about £19 billion today. The enslaved people received no compensation for their decades of unpaid labour and suffering.
Money, collections of art, books and archives were donated to the university and other institutions by former enslavers and their descendants. The most tangible link to slavery compensation money in Aberdeen is Powis Gateway – now owned by the University. It was built in the 1830s by the Leslie family and funded partly by the money they received in compensation for 392 people who were freed by the new law.
It is difficult to compare the value of money in the past with its value today.
In this exhibition we have used the Bank of England’s Inflation Calculator. This is a measure of economic inflation which compares what goods a sum of money could purchase at the time, and what their equivalent value would be today. For example, it would cost £94 today to buy goods that would have cost £1 in 1833.
There are alternatives, such as comparing money with the pay of an average worker, or comparing it with the overall size of the economy. As the economy has changed substantially over the past 200 years, none are completely accurate.