An Enslaved Credit Market: Slavery, Deeds, and Litigation in Nineteenth-Century Rio de Janeiro’s Financial Landscape

Clemente G. Penna ()
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Clemente G. Penna: Fundação de Amparo à Pesquisa e Inovação do Estado de Santa Catarina (Fapesc)

A chapter in Beyond Banks, 2025, pp 133-175 from Palgrave Macmillan

Abstract: Abstract This chapter explores how Brazilian authorities stimulated peer-to-peer loans and passed legislation aimed at increasing the supply of capital to meet the growing demand for investment and facilitate debt collection in the nineteenth century. As the largest slave society in the Americas, the property of enslaved people was one of the most valuable assets in Rio de Janeiro and played a significant role in the city’s financial landscape. The transatlantic and domestic slave trades generated thousands of negotiable titles used in other businesses and transactions, increasing credit circulation. Simultaneously, the ownership of enslaved men, women, and children served as primary guarantors for defaulted loans in the courts. This chapter examines how the interconnections between slavery, debt, and the legal system in Rio de Janeiro illuminate the intricacies of this bankless economy and the impacts of slavery on Brazilian financial markets.

Keywords: Brazil; Rio de Janeiro; History of credit; Non-bank credit; Financial legislation (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:pal:psitcp:978-3-031-75819-5_5

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DOI: 10.1007/978-3-031-75819-5_5

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