The range of types of English capitalism, including the rise of 'finance capitalism', already existed well before 1900. Much earlier, in the wave of revolutions which marked England's tempestuous growth, a financial revolution had even run alongside the country's industrialization; it may not have launched the latter, but it certainly accompanied it and made it possible. It is often said that the English banks did not finance industrialization. But recent studies have shown that both long and short-term credit was available for industrial enterprise in the eighteenth and even the nineteenth century.

The Bank of England, founded in 1694, was the centre of an entire banking system. Around it and based on it were the private London banks: 73 of them in 1807, about a hundred during the 1820s. In the provinces, the 'country banks' which had certainly appeared by the early eighteenth century and which multiplied in the wake of the South Sea Bubble only to collapse with it afterwards, numbered only a dozen in 1750, but 120 in 1784, 290 in about 1797, 370 in 1800 and at least 650 in about 1810.

During during the early years of the 17th century, the English generally viewed the trading of human lives with a certain degree of contempt. By 1640, however, with the growth of sugar plantations in the Caribbean and the corresponding need for labor, the views of the English had changed. They, too, would become regular participants in the trade.

In 1660, the English government chartered a company called the "Company of Royal Adventurers Trading to Africa." At first the company was mismanaged, but in 1663 it was reorganized. A new objective clearly stated that the company would engage in the slave trade. To the great dissatisfaction of England's merchants, only the Company of Royal Adventurers could now engage in the trade.

The Company did not fare well, due mainly to the war with Holland, and in 1667, it collapsed. But out of its ashes emerged a new company: The Royal African Company. Founded in 1672, the Royal African Company was granted a similar monopoly in the slave trade. Between 1680 and 1686, the Company transported an average of 5,000 slaves a year. Between 1680 and 1688, it sponsored 249 voyages to Africa.

Still, rival English merchants were not amused. In 1698, Parliament yielded to their demands and opened the slave trade to all. With the end of the monopoly, the number of slaves transported on English ships would increase dramatically -- to an average of over 20,000 a year.

By the end of the 17th century, England led the world in the trafficking of slaves.