and it agreed to supply the West Indies with three thousand slaves
annually. In 1698, on account of the incessant clamor of English
merchants, the trade was opened generally, and any vessel carrying the
British flag was by act of Parliament permitted to engage in it on
payment of a duty of 10 per cent on English goods exported to Africa.
New England immediately engaged in the traffic, and vessels from Boston
and Newport went forth to the Gold Coast laden with hogsheads of rum. In
course of time there developed a three-cornered trade by which molasses
was brought from the West Indies to New England, made into rum to be
taken to Africa and exchanged for slaves, the slaves in turn being
brought to the West Indies or the Southern colonies.[1] A slave
purchased for one hundred gallons of rum worth £10 brought from £20 to
£50 when offered for sale in America.[2] Newport soon had twenty-two
still houses, and even these could not satisfy the demand. England
regarded the slave-trade as of such importance that when in 1713 she
accepted the Peace of Utrecht she insisted on having awarded to her for
thirty years the exclusive right to transport slaves to the Spanish
colonies in America. When in the course of the eighteenth century the
trade became fully developed, scores of vessels went forth each year
to engage in it; but just how many slaves were brought to the present
United States and how many were taken to the West Indies or South
America, it is impossible to say. In 1726 the three cities of London,
Bristol, and Liverpool alone had 171 ships engaged in the traffic, and
the profits were said to warrant a thousand more, though such a number
was probably never reached so far as England alone was concerned.[3]

[Footnote 1: Bogart: _Economic History_, 72.]

[Footnote 2: Coman: _Industrial History_, 78.]