TRIANGULAR TRADE

'Triangular trade' is a historical term denoting trade between three ports or regions. The trade evolved where a region had an export commodity that was not required in the region from which its major imports came. Triangular trade thus provided a mechanism for rectifying trade imbalances.
The most notorious triangular trade in recorded human history was the 18th century trade between West Africa, the West Indies, and Europe (alteratively: West Africa, the West Indies, and southern colonies in British North America). Of these, the sea lane west from Africa was the notorious Middle Passage; its cargo, abducted or recently purchased African slaves.^[1]

Contents

The triangular slave trade

Other triangular trades

References

The triangular slave trade

The trade represented a profitable enterprise for merchants. The business was risky, competitive, and severe, but enslaved Africans fetched a high price at auctions, making the trade in human cargo a lucrative business.
The first leg of the triangle was from a European port, where supplies such as copper, cloth, trinkets, guns and ammunition would be shipped to a port in Africa. ^[2] When the slave ship arrived, its cargo would be sold in exchange for slaves, who were often tightly-packed like any other cargo to maximize profits. The ship would then make the journey along the Middle Passage to the New World. Once the slave ship reached the New World, the slaves would be sold for a good profit. The ships were then sunk to get them thoroughly clean, drained and loaded for a return voyage to their home port. From the West Indies the main cargo was sugar, rum, and molasses; from Virginia, it was tobacco and hemp. The ship then returned to Europe to complete the triangle.
Alternatively, New England also benefited from the trade, as many merchants were from New England, especially Rhode Island, replacing the role of Europe in the triangle. New England also made rum from the Caribbean sugar and molasses, which it shipped to Africa as well as within the New World.

Other triangular trades

The term "'Triangular Trade'" is also used to refer to a trade pattern which evolved before the American Revolutionary War between Great Britain, the colonies of British North America, and British colonies in the Caribbean. This typically involved exporting raw resources such as fish (especially salt cod) or agricultural produce from BNA colonies to feed slaves and planters in the West Indies (also lumber); sugar and molasses from the Caribbean; and various manufactured commodities from Great Britain.^[3]
Other triangular trades included the shipment of Newfoundland salt cod and corn from Boston, Massachusetts in British vessels to southern Europe.^[4]

References

1. National Maritime Museum - Triangular Trade. Accessed 28 March 2007.
2. Scotland and the Abolition of the Slave Trade. Accessed 28 March 2007.
3. Kurlansky, Mark. ''Cod: A Biography of the Fish That Changed the World''. New York: Walker, 1997. ISBN 0-8027-1326-2.
4. Morgan, Kenneth. ''Bristol and the Atlantic Trade in the Eighteenth Century''. Cambridge: Cambridge University Press, 1993. ISBN 0521330173. Pages 64–77.