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In 1991, development workers uncovered an in depth 18th-century African burial floor in Lower Manhattan, the final resting place of approximately 20,000 individuals. Founded by the Dutch as New Amsterdam in 1625, what would turn into the City of New York first imported 11 African men in 1626. The Dutch West India Company owned these males and their families, directing their labors to frequent enterprises like land clearing and highway development. After the English Duke of York acquired authority over the colony and adjusted its name, slavery grew harsher and extra comprehensive.
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The land corporations that thrived in the course of the late 1700s relied on this technique, as an example. Or consider a Wall Street monetary instrument as modern-sounding as collateralized debt obligations (C.D.O.s), those ticking time bombs backed by inflated house prices in the 2000s. C.D.O.s were the grandchildren of mortgage-backed securities based on the inflated value of enslaved folks bought in the 1820s and 1830s. Each product created huge fortunes for the few before blowing up the financial system.