130 THE FREEDMEN S$ SAVINGS BANK
could have done so much to throttle the thrift
of the freedmen as the mismanagement and
bankruptcy of the series of savings banks chartered
 by the Nation for their special aid.”
Booker T. Washington says of the results:
“When they found that they had lost or been
swindled out of their little savings they lost
faith in savings banks, and it was a long time
after this before it was possible to mention a
savings bank for Negroes without some reference
being made to the disaster of the Freedmen’s
Bank.”
17 Story of the Negro, II, 214.