Political economy

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Monograph

Identifikator:: 867647221

URN:: urn:nbn:de:zbw-retromon-93157

Document type:: Monograph

Author:: Chapman, Sydney John http://d-nb.info/gnd/123743141

Title:: Political economy

Place of publication:: London [u.a.]

Publisher:: Williams & Norgate [u.a.]

Year of publication:: 1912

Scope:: 1 Online-Ressource (255 Seiten)

Collection:: Economics Books

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114 THE FREEDMEN’S SAVINGS BANK 72,000 depositors . . . do not care very much about sympathy provided only they get their money. They have been sympathized with by their friends until they have been literally robbed. These friends of the colored people have hugged them around the neck with one hand while they have stolen the money out of their pockets with the other.” Some of the northern members acknowledged a certain responsibility on the part of Congress for the condition of the bank. Senator Morrill admitted that Congress was largely responsible, for, as he said, “we certainly gave this institution of the Freedmen’s Bank some sort of credit throughout the country.” He thought the origi- nal trustees should have been prosecuted.” Sen- ator Cameron, of Pennsylvania, contented him- self with reminding the Senate that he had pre- dicted the failure of the bank as a result of the amendment of 1870.2 Senator Sherman, who had persistently tried to induce Congress to regu- late the bank, declared that “the original man- agement of the Freedmen’s Bank grossly and scandalously abused its trust; and all the powers conferred by Congress on that corporation were in my judgment abused.”? THE TASK OF THE COMMISSIONERS But until 1881 all the debates concerning the bank resulted in no action, and the commis- 8 Cong. Record, March 3, 1875, p. 2262. ¥ Cong. Record, December 8, 1878, p. 36. » See above, p. 72. # Cong. Record, Feb. 5, 1877, pp. 1273, 1274.

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