Wall Street’s Dark History
New York Governor Kathy Hochul has announced the establishment of a commission to delve into the state’s history of slavery and its enduring effects on Black communities. In her address, Hochul highlighted the disturbing fact that Wall Street once served as a slave market, where human beings were bought and sold without regard for their basic humanity. She emphasized that although the official closure of this market coincided with the abolition of slavery in New York in 1827, the illegal slave trade persisted, contributing to the prosperity of the state’s financial and business institutions.
Examining the Impact and Offering Remedies
The newly formed commission has been tasked with thoroughly examining the impact of slavery on Black individuals throughout New York’s history. Its ultimate goal is to propose remedies to address the long-lasting negative effects on Black communities. Comprising nine individuals, the commission will be selected by the state assembly speaker and the majority leader of the New York Senate, with each responsible for choosing three members.
Contemplating the Idea of Reparations
Governor Hochul acknowledged the complex and often divisive nature of discussions surrounding reparations. She urged people to consider the true meaning and necessity of these conversations, rather than instinctively rejecting the idea. Hochul also emphasized that all Americans, even those whose families arrived after the end of slavery, bear a responsibility to confront and rectify the deep-seated impact of this historical injustice on Black communities.
Ensuring a Better Future for All
Drawing a distinction between those who willingly pursued the American dream and those who were forced into a living nightmare of enslavement, Hochul called on individuals whose family histories are intertwined with the pursuit of a dream to recognize their role in ending a collective nightmare. She highlighted the importance of acknowledging the shared responsibility to address the legacy of slavery and work towards a more equitable future.
Persisting Despite Opposition
Governor Hochul’s decision to sign the bill and establish the commission was met with gratitude from prominent figures like . Despite warnings from political allies, the governor stood firm in her conviction that it was the right course of action. The commission is expected to deliver its initial report approximately one year after its formation, providing a comprehensive analysis of slavery’s impact in New York and proposing potential paths forward.
