The Souls of Black Folk · ¶80

Morally and practically, the Freedmen’s Bank was part of the Freedmen’s Bureau, although it had no legal connection with it. With the prestige of the government back of it, and a directing board of unusual respectability and national reputation, this banking institution had made a remarkable start in the development of that thrift among black folk which slavery had kept them from knowing. Then in one sad day came the crash,—all the hard-earned dollars of the freedmen disappeared; but that was the least of the loss,—all the faith in saving went too, and much of the faith in men; and that was a loss that a Nation which to-day sneers at Negro shiftlessness has never yet made good. Not even ten additional years of slavery 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…

Project Gutenberg ebook 408
Project Gutenberg ebook 408
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