34 THE FREEDMEN’S SAVINGS BANK 
1865, and from it the New York branch secured 
£170,000 of soldiers’ unclaimed deposits. The 
New Orleans “Free Labor Bank” was not taken 
in until January, 1866. The total deposits in this 
bank are not given in the records, but one fund 
was included which amounted to more than 
$20,000, presumably representing profits from 
the Rost Home Colony! On July 11, 1865, a 
branch bank was established in Washington, 
District of Columbia, and a month later its de- 
posits amounted to $843.84." ! 
Effective work was done by Alvord and 
Sperry, who went south in the fall of 1865 to 
organize branches in each southern state and 
to secure deposits. Sperry obtained permission 
from the War Department to accompany the 
Negro troops and to be present at the army pay 
tables in order to solicit deposits from the sol- 
diers. He went with the army to the Mexican 
border and secured deposits amounting to 
$120,000 from the Negro regiments of the 
25th Army Corps. Soon after his return Sperry 
became an inspector of branch banks. 
9 See chapter 1. The affairs of the Rost Home Colony were never 
straightened out. It is impossible to say anything with certainty as to 
what finally became of the money belonging to this colony. The planta- 
tion belonging to Judge Rost was worked by Negroes under the super- 
vision of the Freedmen’s Bureau. According to some accounts $15,000 
or more was cleared in 1866 and by order of General Howard this amount 
was placed in the New Orleans branch to be used for Negro education. 
Under the Freedmen’s Bureau Act of 1866 this money should have been 
deposited in the United States Treasury. But later it was invested in 
5.20’ and transferred from New Orleans to the Ireedmen’s Bank in 
Washington, D. C. Finally, by some trick of bookkeeping it was with- 
drawn into private hands and disappeared. Douglas Report, pp. 182-187. 
See below, p. 97. 
10 August 1 is another date given. 
1 flo. Misc. Doc. No. 16, 43 Cong., 2 Sess., p. 91; Sen. Misc. Doc. 
No. 88, 43 Cong., 2 Sess., pp. 2, 3; Bruce Report, p. 246; Douglas 
Report, p. 66.