The government recognized that it would have to foot the bill: twenty million pounds was raised and set aside to compensate the forty-six thousand slave owners. That sum represented 40 per cent of all government spending for the year 1833 and is the equivalent of around seventeen billion pounds today, making it then the largest pay-out in British history. The eight hundred thousand slaves were to be freed, but not immediately. They were to be compelled to pay some of the cost of their own manumission. All slaves who worked the fields were to continue their labours for an additional six years,
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