The Bank of England has joined British companies in apologizing for slavery

The Bank of England has joined British companies in apologizing for slavery
Adam D. Crook
Written by Adam D. Crook
Several UK companies this week identified ties to the slave trade and pledged new financial aid to black and minority ethnic groups. Companies are highlighted in a University College London Database Exploring the legacies of British slave ownership, which a Substantial contribution To the wealth of the country.

Historic England says that between 1640 and 1807 Britain enslaved 3.1 million Africans and transported them to colonies around the world. According to the National Archives, many of these individuals were taken to the Caribbean for work on sugar plantations, which made their owners very wealthy by exporting sugar, molasses and rum.

When colonial slavery was abolished in 1833, the British government paid 20 20 million (25 million) to compensate slave owners, and slaves received nothing. In today’s terms, according to Historic England, the compensation is equivalent to about .5 16.5 billion ($ 20.6 billion).

In recent weeks, Black Lives Matter protests have erupted in the United Kingdom, with demonstrators calling for the dismantling of the statue of seventeenth-century slaveholder Edward Colston and the removal of other monuments.

“Slave-owners have sent the fruits of slavery to Metropolitan Britain in a very important way,” says University College London.

The university’s database shows that many former governors and directors of the Bank of England hold slaves. These people were compensated by the UK government when slavery was abolished, and in some cases received several thousand pounds to free their slaves.

A spokesman for the Bank of England said in a statement Friday that the eighteenth and nineteenth-century slave trade was “unacceptable” in English history and apologized for the role played by former governors and directors. The spokesman said the pictures of former governors and directors involved in the slave trade would be removed if they were displayed anywhere in the Central Bank.

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There are also churches and cathedrals Becky Clark, director of the Church of England Cathedrals and Church Buildings, said in a statement that they are considering how to address issues raised by Black Lives Matter when it comes to memorials. This may include a modification of the removal of monuments, but it must be done “safely and legally.”

“Slavery and exploitation have no place in society,” a spokesman for the Church of England said. “While we recognize clergy and active members of the Church of England’s pivotal role in eradicating slavery, it is a shame that others in the church actively and profited from slavery,” the spokesman said.

The Church of England apologized in 2006 for accepting the role it played in historical slavery cases. It now works to end modern slavery Cleaver Initiative.

Major companies in the world are trying to figure out how to fix racial injustice. British companies acknowledged their ties to the slave trade earlier this week at Lloyds of London, the world’s oldest insurance market and pub chain Green King.

More than a dozen U.S. companies, including this year Nike (NKE), Twitter (TWTR) And Target (tgt), Have Employees were given a day off from work June 19 as a paid holiday, or adopting Junetine. More than two years after the Emancipation Proclamation, Juneteenth Day marks the end of slavery in Texas.

– Clare Duffy Contributing to Reporting.

About the author

Adam D. Crook

Adam D. Crook

Adam is a charismatic science communicator respected for his deep understanding of US S&T system. "New Frontiers in Science & Development' is the online platform he contributes to actively in addition to Science and Getty Images. He has won many national and international awards for his work. Explaining complexities of science in a simple language is his forte. He has extensive experience in reporting about the United State atomic energy program.
His pioneering work show casing US’s maiden mission to Mars and Moon has been applauded this aired in English for Television. In his two decades of writing for the prestigious American weekly Science, his stories have highlighted.

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