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

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

108 THE FREEDMEN’S SAVINGS BANK INVESTIGATIONS BY CONGRESS While the commissioners were wrangling, and the friends of the Negroes were trying to induce Congress to settle the affairs of the bank, two congressional investigations into the affairs of the institution were made—one in 1876 by the Douglas Committee, and another in 1880 by the Bruce Committee. Both investigations were made at the instance of the southern Democrats and the Negro Republican members from the southern states. Most of the northern members of Congress objected to the waste of any more time and trouble on the Freedmen’s Bank. Both political factions in the South were willing to throw responsibility for the mismanagement of the bank upon individuals affiliated with the northern Republicans. These investigations laid bare the fraudulent methods and corrupt practices by which the bank had been brought to ruin. The report of the Douglas Committee, after giving a historical sketch of the bank, went into details in regard to the causes of its failure, asserting that some of the trustees were honorable men, but that the controlling members, especially after the re- moval of headquarters to Washington, were either sharpers or dupes; that the law failed to make the trustees liable to penalties for misuse of the funds under their control; that there was no 1 The Douglas Committee from the House consisted of Douglas of Virginia, chairman; Bradford, of Alabama; Stenger, of Pennsylvania; Riddle, of Tennessee; Hooker and Bliss, of New York; Frost, pri Massa- chusetts; and Rainey (Negro) of South Carolina. The Bruce Committee from the Senate was composed of B. K. Bruce (Negro) of Mississippi, chairman; Angus Cameron of Wisconsin; Los B. Fe of Georgia; Robert E. Withers of Virginia; and A. H. Garland of Arkansas.

Access restriction

Copyright

fullscreen: The Freedmen's Savings Bank

Monograph

Chapter

Table of contents

Download

Monograph

Chapter

This page

Image fragment

Citation links

Citation recommendation