The Freedmen's Savings Bank

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Monograph

Identifikator:: 834582015

URN:: urn:nbn:de:zbw-retromon-77707

Document type:: Monograph

Title:: Régime des chambres de commerce

Place of publication:: Paris

Publisher:: Libr.-impr. réunies

Year of publication:: 1894

Scope:: 1 Online-Ressource (390 S)

Collection:: Economics Books

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ORGANIZATION AND EXPANSION 35 THE FREEDMEN’S BANK AND THE FREEDMEN’S BUREAU In many ways the Freedmen’s Bank was con- nected with the Freedmen’s Bureau, and the connection was used to every possible advantage. The Negroes came to believe that the bank was a part of the Freedmen’s Bureau system. When he went south in the interest of the bank, Alvord found that his connection with the Freedmen’s Bureau educational department was of decided advantage to him in his work. He carried with him the endorsement of General O. O. Howard, the Commissioner of the Bureau,'? and he is said to have represented this recommendation as an order from Howard that the Negro soldiers should deposit their bounty money with him. “It appears also,” asserted later investigators, “that Howard directed that bounty money in the hands of Bureau officials be turned over to the Bank.” For five years Alvord, as inspector of the Bu- reau schools and as officer of the bank, traversed the South soliciting deposits and establishing branch banks. He continued this work for two years after he became president, for in this field he was considered most valuable by those who were directing the policy of the institution. To meetings of Negroes he explained its purposes and told of its advantages. He, Sperry, and other agents scattered circulars broadcast explaining the benefits of the bank, and stating that Lincoln had favored it, and that General Howard con- Howard’s Statement. See Appendix, p. 146. Douglas Report, p. 67.

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