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 III. Organization and expansion of the Freedman's Bank

Collection:: Economics Books

40 THE FREEDMEN'S SAVINGS BANK each was a member of from three to eight other boards or organizations more or less closely re- lated to one another in the capacity of borrower and lender or of purchaser and seller. Many minor officials were likewise connected with similarly related enterprises. It was thisidentity of person- nel which gave some foundation for the charges against the so-called “Freedmen’s Bureau ring” which for a time controlled the Bureau, the bank, the freedmen’s schools, Howard Univer- sity, several commercial enterprises and religious organizations, and a few political undertakings.” Somewhat later, about 1870, the Bureau’s in- fluence began to wane, as a new element began to contest its control. These newcomers were from the District of Columbia and were con- nected with such interests as the First National Bank, the District of Columbia government, the Seneca Sandstone Company, the Metropolitan Paving Company, the American Building Block Company, and other such organizations.? This state of affairs was sure, sooner or later, to affect the bank unfavorably. 2 See, e.g., Fernando Wood’s charges, Peirce, Freedmen’s Bureau, pp. 110, 111, 117, 153. 23 See below, chapter 5.

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