How might a discussion of the ending of the Atlantic slave trade in relation to the development of European racism illuminate the question of who gained and who lost? The question can be approached at three levels. The first concerns the degree to which the racial attitudes of Europeans were affected by the process of termination. The second would be how the people of Europe and of Afro-America were affected by the termination itself. The third and broadest aspect would be the long-term effects of that complex process. It seems to me that the answers become more speculative as the scope of potential impact broadens, as the discussion moves from a concern with attitudes and ideology to social conditions, as the geographical scope broadens, and as the temporal dimension to be considered expands to encompass the twentieth century. The first level, the relation of the processes of abolition to racism, is the primary focus of this paper; a few brief remarks on the second and third issues are reserved for the conclusion.