This whole thing about who should get a check, and should we cut checks, you know, I understand those questions. That’s great. Those people should su… - Ta-Nehisi Coates

The onset of the Civil War, the greatest preponderance, the greatest population per capita of millionaires and multimillionaires in this country was in the Mississippi River Valley. It wasn’t in Boston, wasn’t in Chicago, wasn’t in New York. The richest people in this country were slaveholders. Most of our earliest presidents were slaveholders. And the fact that they were presidents is not incidental to the fact that they—to their slaveholding. That was how they built their wealth. That was how Thomas Jefferson built his wealth. That was how George Washington built his wealth. Individual slaves were the equivalent of, say, owning a home today. They were people, but turned into objects of extreme wealth. So, just from the economic perspective, there’s that.

We feared [Ryland's Hounds] and hated them, perhaps more than we feared and hated the Quality who held us, for all of us were low, we were all Tasked, and we should be in union and arrayed against the Quality, if only the low whites would wager their crumbs for a slice of the whole cake. (p. 57)

As historian Ed Baptist has written, enslavement, quote, “shaped every crucial aspect of the economy and politics” of America, so that by 1836 more than $600 million, or almost half of the economic activity in the United States, derived directly or indirectly from the cotton produced by the million-odd slaves. By the time the enslaved were emancipated, they comprised the largest single asset in America—$3 billion in 1860 dollars, more than all the other assets in the country combined.
The method of cultivating this asset was neither gentle cajoling nor persuasion, but torture, rape and child trafficking. Enslavement reigned for 250 years on these shores. When it ended, this country could have extended its hallowed principles—life, liberty and the pursuit of happiness—to all, regardless of color. But America had other principles in mind. And so, for a century after the Civil War, black people were subjected to a relentless campaign of terror, a campaign that extended well into the lifetime of Majority Leader McConnell.
It is tempting to divorce this modern campaign of terror, of plunder, from enslavement. But the logic of enslavement, of white supremacy, respects no such borders, and the god of bondage was lustful and begat many heirs—coup d’états and convict leasing. vagrancy laws and debt peonage, redlining and racist GI bills, poll taxes and state-sponsored terrorism.