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 V. Mismanagement and other troubles

Collection:: Economics Books

64 THE FREEDMEN’S SAVINGS BANK tacles . . . Brother Boston, young, airy, dressed in the height of fashion, and the color of Java coffee, moves lightly among the dingy and di- lapidated customers . . . Boston is fond of finery and fond of showing it. Finery and high sounding words are Boston’s weakness. . . . Daddy Wilson got his wisdom in financial mat- ters by keeping a little nick-nack shop on Fif- teenth Street. Daddy Wilson and Brother Bos- ton are mere figure-heads kept there in dumb show by cunning fellows who work the machin- ery from behind the scenes and are filling their own pockets.”’’ The one case of fraud proved against the two was a small and mean one. Boston had been “borrowing” small sums from an ignorant de- positor named Watkins, without giving security, Watkins for his part thinking that none was necessary. Boston had also been checking out Watkins’ money without the knowledge of the latter, who could not read his pass book. Wilson, the cashier, allowed this practice and paid the money to Boston, so that in this way about $1,000 was stolen before Watkins discovered it. His losses were far greater than the losses of the average sufferer, but over the South many others had similar experiences. The following account from Watkins’ deposition may be taken as typical of the feelings of thousands of Negroes who lost their money: About a week after the bank closed [1874] I carried my passbook up there, and also my little boy’s. My little boy had $60 in the bank, I think, and I had nine hundred odd. Dis Sovagoal Morning News, Dec. 9, 1871; in Washington Patriot,

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