Research by the Church Commissioners into a Church of England investment fund has revealed that for over a century it invested large sums of money in a company responsible for transporting slaves. ‘Queen Anne’s Bounty’ was formed in 1704 to help support poor clergy. In 1739 its accounts showed £204,000 (estimated to be worth £443m today) had been invested in the South Sea Company which had an exclusive contract to transport slaves from Africa to Spanish colonies in South America for more than 30 years from the 1710s. Church investments in the South Sea Company continued well into the 19th century and the fund today is worth £10.1bn.
Archbishop of Canterbury, Justin Welby has said he was “deeply sorry for the links”. “This abominable trade took men, women and children created in God’s image and stripped them of their dignity and freedom. The fact that some within the Church actively supported and profited from it is a source of shame. It is only by facing this painful reality that we can take steps towards genuine healing and reconciliation – the path that Jesus Christ calls us to walk.”
Read more here and here. Read the Church Commissioners report here.
MJR’s documentary ‘After the Flood: the church, slavery and reconciliation’ reveals more of this history of complicity with colonial slavery on the part of the Church of England and other churches, and also talks about the reconciliation Justin Welby speaks of. Find out more here.
