Chapter VI 
THE ADMINISTRATION OF 
FREDERICK DOUGLASS. 
THE COLLAPSE OF THE BANK 
FREDERICK DOUGLASS MADE PRESIDENT 
ESTIFYING before the Douglas Com- 
mittee in 1876, Dr. Purvis, a Negro mem- 
— ber of the board of trustees, explained 
why Frederick Douglass was made president. 
“Prior to the last election in March, 1874,” he 
said, “we had determined to get rid of an element 
which we believed to be the cause of all our dis- 
asters, and we colored men put into the Bank 
Mr. Douglass. We looked upon Mr. Alvord as 
old and incompetent.” The testimony of others 
before the Douglas Committee and the Bruce 
Committee shows that for various reasons nearly 
all concerned were willing for Douglass to be 
made president and for several of the District 
of Columbia trustees to be replaced by others. 
Some, looking for a scapegoat, were anxious that 
colored officials be in charge when the bank 
failed as they were sure it would; others thought 
that a Negro administration would restore the 
confidence of the depositors and enable the in- 
stitution to survive until better times. 
Douglass was elected president in March, 
! Douglas Report, p. 76. 
RE