South Carolina Slave Prices, 1722-1809

41 Pages Posted: 3 Apr 2000 Last revised: 5 May 2023

See all articles by Peter C. Mancall

Peter C. Mancall

University of Southern California - Department of History

Joshua L. Rosenbloom

National Bureau of Economic Research (NBER); Iowa State University - Department of Economics

Thomas Weiss

University of Kansas - Department of Economics; National Bureau of Economic Research (NBER)

Date Written: March 2000

Abstract

Based on data from several samples of probate inventories we construct and analyze a time series of slave prices for South Carolina from 1722 to 1809. These estimates reveal that prices fluctuated without trend prior to the 1760s and then began to rise rapidly, more than doubling by the early nineteenth century. Estimates of supply and demand functions indicate that while long-run slave supply was highly elastic, the short-run supply function was quite inelastic. Our analysis of the slave price series indicates that the price of rice was the major determinant of the demand for slaves and in turn largely explains the rise in slave prices. These findings have important implications for the interpretation of evidence on rising yields in rice production over the eighteenth century and the sources of wealth accumulation in South Carolina.

Suggested Citation

Mancall, Peter C. and Rosenbloom, Joshua L. and Weiss, Thomas, South Carolina Slave Prices, 1722-1809 (March 2000). NBER Working Paper No. h0123, Available at SSRN: https://ssrn.com/abstract=220088

Peter C. Mancall

University of Southern California - Department of History ( email )

Los Angeles, CA 90089
United States

Joshua L. Rosenbloom (Contact Author)

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Iowa State University - Department of Economics ( email )

260 Heady Hall
Ames, IA 50011
United States

Thomas Weiss

University of Kansas - Department of Economics ( email )

Lawrence, KS 66049
United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

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