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A powerful engine for this purpose, was the giving good prices and credit, till they got him more immersed in debt than he could pay, without selling his lands or slaves. Then they reduced the prices given him for his tobacco, so that let his shipments be ever so great, and his demand of necessaries ever so economical, they never permitted him to clear off his debt...
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Then they reduced the prices given him for his tobacco, so that let his shipments be ever so great, and his demand of necessaries ever so economical, they never permitted him to clear off his debt. These debts had become hereditary from father to son, for many generations, so that the planters were a species of property, annexed to certain mercantile houses in London (Fourth International, Frankel)...
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General points of the essay
Was The Industrial Revolution Good or Bad For Society?
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