The Freedmen's Savings Bank

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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

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter VII. The work of the commissioners

Collection:: Economics Books

102 THE FREEDMEN’S SAVINGS BANK phia Negro, the father of Dr. Purvis, the Negro trustee. These men were then appointed by the Secretary of the Treasury. Leipold was chosen by the trustees because he was an expert ac- countant; Creswell, “because he was a cabinet officer, the most practical Republican we ever had,” and because he had a reputation for ap- pointing Negroes to office;? Purvis was chosen because of his color, a Negro being needed to represent the race. The commissioners took charge of the affairs of the defunct bank on July 11, 1874. The salary of each was fixed at $3,000 a year and they were required by the Secretary of the Treasury to make a joint bond for $100,000. From the first there was trouble among them in regard to the proper division of the work and responsibilities. Creswell and Purvis did practically nothing but sign the checks for dividends (quite a task, how- ever) and they soon made it evident that they did not intend to undertake other duties, but to leave the business for Leipold to look after. Creswell seemed to think that his part was done by allowing the use of his name and his reputa- tion as a friend of the Negroes; and Purvis seemed to feel that his part was merely to be a Negro member on the board of commissioners. statement: “Cardozo, a Negro, was superintendent of Public Education and Purvis, a Philadelphia mulatto, was Adjutant General of the state. These two men were considered by the natives to be the most respectable members of the state) government.” Possibly this Purvis was one of those connected with the Freedmen’s Savings Bank. 3 Creswell was a native of Maryland, and in politics had been a Whig, later a Democrat, and finally a Radical Republican. He served as congressman and senator from Maryland during the Civil War, and in 1865 he became Postmaster General, resigning on July 3, 1874.

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