[SoCal Pubbie]

So if the Southerners owned the cash crops, how did those damned Yankess in New York make all those profits I’ve heard were skimmed off the top?

[FLT-bird]

So if the Southerners owned the cash crops, how did those damned Yankess in New York make all those profits I’ve heard were skimmed off the top?

By servicing the trade.
Banking
Insurance
Factors
Shipping companies
Ship builders

In their NY Times Best seller written by 3 New England Journalists called “Complicity: how the North promoted, prolonged and profited from slavery”

Their comment as to this trade and the servicing of it was “this was slavery the way the North liked it - most of the profits and none of the screams”.