The Freedmen's Savings Bank

Bibliographic data

Monograph

Identifikator:: 175265076X

URN:: urn:nbn:de:zbw-retromon-129631

Document type:: Monograph

Author:: Fleming, Walter Lynwood http://d-nb.info/gnd/120660560X

Title:: The Freedmen's Savings Bank

Place of publication:: Chapel Hill

Publisher:: Univ. of North Carolina Press

Year of publication:: 1927

Scope:: x, 170 S.

Digitisation:: 2021

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter IV. The good work of the bank

Collection:: Economics Books

44 THE FREEDMEN’S SAVINGS BANK This is a benevolent institution. All profits go to the depositors, or to educational purposes for the freedmen and their descendants. The whole institution is under the charter of Congress, and received the commendation and counsel of the Presi- dent, Abraham Lincoln. One of the last official acts of his valued life was the signing of the bill which gave existence to this bank. On the cover, also, was the following commen- dation from General Howard, which was to the Negro sufficient proof of its connection with the Bureau: I consider the Freedmen’s Savings and Trust Company to be greatly needed by the colored people, and have wel- comed it as an auxiliary to the Freedmen’s Bureau. —Major-General O. O. Howard. For the purpose of educating the depositor in thrift a table was printed in the book to show the possibilities of a small saving each day: A man who saves ten cents a day for ten years, will have, if he puts it at interest at six per cent: In year... roe A30.99 In Wiyears. cos vvv od 76.20 In 13 Ears. «ovis visi 7:21 inMdyesrs............. Wal.Y In GS years. ............ 003.74 In Gyears.............. 005847 In 7 years............. 1113 In 8 years. coonnisi .ul367.03 In O Fears... ....iuvsqv 1026.37 Inl0years..... nes ea Ri59-31 There were, in one edition of the book, pictures of Lincoln, Grant, Howard, and the United States flag, and some verses, which, as charged by unfriendly critics, the Negroes believed were written by General Howard:

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