Introduction:
Our Realty Time Capsule for the year 1807 was filled with events that had an impact on the future of the real estate industry of the United States. What events took place in 1808 that had the same impact? Let’s take a closer look.
Three Key Points
1. Act Prohibiting Importation of Slaves Becomes Effective: The Act Prohibiting Importation of Slaves becomes effective. The law bans the importation of slaves into the United States. The law is a controversial one because there are many Americans who benefited from slavery.
While the law did end the participation of the United States in the international slave trade, it did not end the trading of slaves domestically. It had the opposite effect. Instead of ending the domestic slave trade, it gave it a boost. The slave trade was instrumental in boosting the economy of many states, particularly those in the Southern part of the country. Slave labor was utilized in the plantations, making them more profitable. It was indirectly connected with improving the value of the lands where slavery was utilized.
The country was divided on the issue of slavery and that division would come to a head in the years to come.
2. Anthracite Coal Is First Burned: Anthracite, also known as black coal, is a compact type of coal. The coal region of Pennsylvania has the largest anthracite coal deposit in the world. Although it has long been known that there is a large deposit of anthracite coal in the United States, it was not mined extensively because people did not see its commercial opportunities.
It was in 1808 when anthracite was experimentally burned as a residential heating fuel in the United States by Judge Jesse Fell in Wilkes-Barre, Pennsylvania. Fell used an open grate, which is ideal for anthracite because it needed a draft at the bottom. The discovery that anthracite can be used to warm residences meant that there was a vast supply of fuel available that was relatively cheap.
3. American Fur Company Founded: In the 18th century, fur became very popular as a fashion in Europe. The United States became the major source of fur which was very much in demand in the Old World. British companies operating in North America also competed in the lucrative trade. In 1808, the American Fur Company was opened and soon it became the leading supplier of fur.
The scramble to supply the fur trade in Europe was a stimulus for explorers to search for new lands. This indirectly led to the settling of those areas.
What Historic Real Estate Events Shaped 1808?
The decision to bring slaves into the New World was a historic event that had a substantial influence on the history of the United States and not just on its real estate industry. While slavery allowed the plantations to become wealthy, many people were against the entire practice. This is why laws seeking to limit it were filed.
Unfortunately, the question of slavery would be settled only after much suffering and bloodshed many years later.
Economic Factors, Supply, and Demand
The law which prohibited the importation of slaves was a major step towards the fight against slavery. Unfortunately, it did not stop the practice of slavery since the trade within the country continued. The practice of slavery made the plantation system in the Southern United States, where vast tracks of land came under the control of a single family or individual.
The founding of the American Fur Company also had a significant impact on the economy since the fur trade was quite lucrative.
Government Policies and Interventions
The Act Prohibiting Importation of Slaves was the main government intervention for the year. The arguments it caused were one of the first indicators that the issue of slavery would be a difficult issue to resolve for the country.
Demographic Factors
From the last census, almost 900,000 slaves were living in the United States and so by 1808 that number should have gone up. That was a significant chunk of the American population.
Technological Innovations
The discovery that anthracite coal has practical use was one of the key discoveries that would help America be a part of the Industrial Revolution. Although first used as a fuel for heating homes, this type of soil would help develop other technological innovations that would come later.
All things considered, 1808 was a rather tame year for real estate in the United States. There were no new territories and there were no new explorations that were sent out. The new goal then was to determine what the new lands had in store.
Join us as we explore another Realty Time Capsule for the year 1809. Get ready as 1809 promises to be another eventful year for the things that would influence American real estate later.
For a deeper understanding and look into these topics check out these titles:
Slavery in America:
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“Thomas Jefferson and the Fight Against Slavery (American Political Thought)” by Cara Rogers Stevens
