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The Freedmen's Savings Bank

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Bibliographic data

fullscreen: The Freedmen's Savings Bank

Monograph

Identifikator:
1831267624
URN:
urn:nbn:de:zbw-retromon-221009
Document type:
Monograph
Title:
Urteile führender Einzelhandelsfirmen über das GEFI-System
Place of publication:
Berlin
Publisher:
GEFI, Gesellschaft für Finanzierung von Kreditgemeinschaften m.b.H.
Year of publication:
[1931]
Scope:
23 Seiten
Digitisation:
2022
Collection:
Economics Books
Usage license:
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Contents

Table of contents

  • The Freedmen's Savings Bank
  • Title page
  • Contents
  • Chapter I. The negro at the close of the Civil War
  • Chapter II. Origin of the Freedmen's Savings Bank
  • Chapter III. Organization and expansion of the Freedman's Bank
  • Chapter IV. The good work of the bank
  • Chapter V. Mismanagement and other troubles
  • Chapter VI. The administration of Frederick Douglass. The collapse of the bank
  • Chapter VII. The work of the commissioners
  • Chapter VIII. The affairs of the bank under the controller of the currency
  • Index

Full text

Chapter VIII 
THE AFFAIRS OF THE BANK UNDER 
THE COMPTROLLER OF THE 
CURRENCY 
BOARD OF COMMISSIONERS ABOLISHED 
‘HE necessity for changing the adminis- 
tration of the affairs of the bank had long 
been obvious and Congress was at last 
convinced. The administration of the three com- 
missioners was too expensive—from 1874 to 1879 
it had cost $355,994.77; they lacked full author- 
ity to dispose of the property of the bank, and 
their unedifying personal disputes brought dis- 
credit upon their work. So in 1881, partly as a 
result of the Bruce investigation, Congress abol- 
ished the board of commissioners and made the 
Comptroller of the Currency a commissioner to 
close out the business. He was allowed a salary 
of $1,000 to be taken from the funds of the bank; 
thus a saving of $8,000 a year in salaries alone 
was effected.’ 
DUTIES OF THE COMPTROLLER 
By this act of Congress the funds collected by 
the Comptroller were to be placed in the United 
States Treasury and were to draw interest; when 
dividends were to be declared, he was to pay the 
1 Acts of February 21, 1881 and April 5, 1882, 
1735
	        

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