New York considers paying reparations for slavery

New York is considering paying reparations to the descendants of slaves under new plans approved by the City Council. The proposals are yet to be signed into law by Democratic Mayor Eric Adams. They are aimed at acknowledging and addressing the impact of slavery in New York City According to the City Council, New York City had one of the highest rates of slave ownership in the country during the 1700s, before abolishing it in 1872. However, businesses across the city, including the predecessors of some modern banks, continued to benefit financially from the slave trade up until 1866. The lawmakers behind the proposals noted that the harms caused by the institution are still felt by Black Americans today. One of the proposals would also require the city to install a sign on Wall Street in Manhattan to mark the site of New York’s first slave market. The market operated between 1711 and 1762.  Public Advocate Jumaane Williams said: “The wealth of Wall Street banks was built on the backs of the human beings sold on that very spot. “And we have a moral obligation to accurately acknowledge this slave market’s tragic history, the pain of enslaved people in our...