41 
Chapter IV 
THE GOOD WORK OF THE BANK 
METHODS OF ADMINISTRATION 
"~ AHE organization and plan of operation 
of the bank appeared in the beginning 
JL to be practicable and effective. As an 
Alabama Democratic Congressman said, “It was 
the very contrivance that was needed by these 
people [the Negroes] above all others.”! From 
the principal office in New York, later in Wash- 
ington, the business of the entire system was 
controlled, and to it daily, weekly, and monthly 
reports were sent up from the branches. All de- 
Posits made at the branches, with the exception 
of small amounts for current expenses, were sent 
to the central office to be invested in United 
States bonds. 
The cashiers and other officials were supposed 
to be men of high character, chosen because of 
their interest in the welfare of the freedmen. 
Most of them were, at first, officials of the Freed- 
men’s Bureau or of the Army, and several of 
them were ministers—missionaries sent south 
© work among the lately emancipated. Few 
Negroes were at first found among the officials or 
employees. They were not yet competent. Some 
of the prominent trustees, such as Ketchum of 
5 propeech of Bradford of Alabama in Cong. Record, April 22, 1876,