Debt Peonage in the Cotton South After the Civil War

Roger L. Ransom and Richard Sutch

The Journal of Economic History, 1972, vol. 32, issue 3, 641-669

Abstract: This condition of affairs in the South introduced a vast credit system whose tremendous evils and exorbitant exactions have brought poverty and bankruptcy to thousands of families. As a policy, it is vindictive in its subtle sophistry; as a system, it has crushed out all independence and reduced its victims to a coarse species of servile slavery.…

Date: 1972
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