HTST 465 Lecture Notes - Lecture 7: Life Insurance
9 Oct 2016
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Institution of life insurance: about protecting a family during a death of a family. When they lost a father in the family who was the only one working, everything else dies with you. Slave holders show interest to put on their slave. Slaves are their investments that needs to be protected. Fire insurance and life insurance companies are riding these policies during this period. New york life and etna were the biggest companie. Planters were good at talking to banks, taking loans and growing their businesses. Slaves are a part of the banking system. We see bankers buying investments in factories, doing all kinds of things to be involved in all regions. Steven dunkin; one of the richest men . The avg family in 1860 sustained themselves on 300 dollars a year. He invested in treasury, gov bonds made 12 thousand a year just on these investments. Hold onto their land, but cant hold their plantation.
