Church of England to compensate for slavery

The Church of England (Anglican Church) is to set up a fund, to the tune of 100 million pounds sterling, to compensate for the historical benefit it received from the odious trade in human flesh, the transatlantic slave trade.

A news item in the British newspaper the GUARDIAN states that the money is to come from a 9 billion pound endowment fund which itself originates in what was called the Queen Anne’s Bounty which was established in 1704 and benefited from contributions of persons and companies involved in the inhuman slave trade. The fund itself invested in one of the biggest slave trading companies, the South Sea company.

The Commissioners of the Church, who manage the endowment fund said that the compensation fund is an effort “to address past wrongs” and expects to deliver a programme of investment, research and engagement over the next nine years. They were quick to point out that this does not represent reparations because there will be no compensation for individuals but rather support for projects “focused on improving opportunities for communities adversely affected by historic slavery”.

They plan to set up an “oversight group” with significant membership from communities affected by historic slavery so as to ensure sensitivity and accountability in the administration of the projects.

Head of the Anglican Church, Justin Welby, the Archbishop of Canterbury, has been quoted as saying that the Commissioners’ Report “lays bare the links” between the fund historically with the transatlantic slave trade. He became the latest prominent European to public express regret for slavery.

“I am deeply sorry for these links,” said the Archbishop.

“It is now time to take action to address our shameful past”.

He was supported by the deputy chair of the Church Commissioners, David Walker, Bishop of Manchester.

“Discovering that the Commissioners’ predecessor fund had links to transatlantic slavery is shaming and we are deeply sorry. We will seek to address past wrongs by investing in a better future.”