As Sharon Ann Murphy shows in her powerful and unprecedented book, the centrality of enslaved labor to banking in the antebellum United States is far greater than previously thought. Murphy argues that the rapid spread of slavery in the South during the 1820s and ’30s depended significantly upon southern banks’ willingness to financialize enslaved lives, with the use of enslaved individuals as loan collateral proving central to these financial relationships. She makes clear how southern banks were ready to alter time-honored banking practices to meet the needs of slaveholders.  In the end, many of these banks sacrificed themselves in their efforts to stabilize the slave economy. Murphy also details how banks and slaveholders transformed enslaved lives from physical bodies into abstract capital assets. Her book provides an examination of how our nation’s financial history is intimately intertwined with the dehumanizing institution of slavery.