Isaac Newton, one of the most iconic figures in the history of science, not only transformed the understanding of the universe with his theory of gravity, but also played a prominent role in the financial and political circles of his time. However, a new book titled “Ricardo’s Dream: How Economists Forgot the Real World and Led Us Astray,” written by British author Nat Dyer, sheds light on a lesser-known and much more controversial facet of his life: his economic ties to the transatlantic slave trade. The book focuses primarily on the life and work of David Ricardo, a pioneer of economic theory, but it also revisits the period in which Newton held the position of Master of the Mint of England. During his three decades in that position, Newton accumulated considerable personal wealth, benefiting from gold mining. in Brazil, where mining depended on the exploitation of enslaved people. According to Dyer, the flow of this precious metal to England was closely related to the slave trade, which connects the scientist directly to a global economy “based on oppression and traffic human.”Newton assumed his position at the Mint in 1696, after leaving his professorship at Cambridge, where he earned an annual salary of 100 pounds (equivalent to about 36,000 today, about 43,000 euros). In this new position, his fortune grew exponentially, reaching an income of almost 3,500 annually (approximately 1.26 million today, just over one and a half million euros). This wealth was recorded after his death in 1727, when an inventory of his belongings included luxury items such as sterling silver chamber pots that were used by his guests. The gold that made Newton rich came mainly from Brazil, then a Portuguese colony with a prosperous mining industry supported by the forced labor of enslaved people. Much of this gold arrived in England through British merchants in Lisbon, who received payments in this precious metal in exchange for textiles. Once on English soil, the gold was converted into currency under the direct supervision of Newton, who charged a commission for each coin minted.CorrespondenceLetters from Newton’s private correspondence, preserved by the ‘Newton Project’, an international initiative dedicated to transcribing and publishing all of this character’s writings online, confirm this connection. According to the book, in a note from 1701, the scientist mentions that “we cannot obtain ingots except from the West Indies (Central and South America) belonging to Spain and Portugal.” Another letter from 1717 describes how large quantities of gold from Portugal flowed into the Mint in London. According to Dyer, Newton was “at the very center of this gold rush,” and the more gold he got, the greater his wealth. During Newton’s time at the head of the Mint, England minted some 14 million pounds in gold coins, an amount that equals the production of the previous 136 years. Although Newton suffered significant losses in the stock market crash of the time, he died an extremely wealthy man, and a significant portion of his fortune was “intimately connected to the transatlantic slave trade,” according to the author. Historian Patricia Fara , author of ‘Life After Gravity: Isaac Newton’s London Career’, which examines Newton’s lesser-known period in London, where he left his academic life to become an influential figure in science, economics and politics of his time, highlights that we cannot judge the actions of historical figures with contemporary moral standards. Although Newton participated less in these practices than other figures of his time, it is no less true that he benefited from systems deeply rooted in slavery. Colonial enterprises Fara also highlights Newton’s other links with colonial enterprises such as the East India Company and the South Sea Company, both involved in the slave trade, and emphasizes that “applying current standards when evaluating historical events or figures can lead to erroneous interpretations. For the expert, Newton was a product of his time, influenced by the social and political dynamics of England in the 17th and 18th centuries; and therefore, aspects of his career in London, such as his indirect participation in economic systems linked to colonialism, cannot be adequately evaluated without considering the historical framework. Related News Tribune open opinion Yes Newton’s third law Antonio Benítez When they sway at the whim of the foundations of a society, we can only hope that a reaction will occur that, as Newton concluded, will be of the same intensity, but in the opposite direction. Professor Leonardo Marques, historian at the Federal Fluminense University in Brazil, confirmed to The Guardian that the use of Brazilian gold by British institutions is not a new discovery. “Everyone involved in banking and finance in 18th century England was, in some way, connected to slavery,” he maintains. For Marques, the fact that Newton was aware of the origin of that gold is not surprising.
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