Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1868-05-29
Freedmen's Saving Eank.

Freedmen's Saving Eank.
We publish, by request, the official Cir
cular from General MILES in regard to the
" Freedmen's Saving Bank" 1t contains
much wholesome advice and we are unwil-
ling to deny the admission into our col
umns OF any thing which We think may
prove Of service to the colored people, We
have frequently proffered our kindly Off
ces to these people, but with little effect,
but probably, when we can get the endorse
ment of such authority as General MILES,
we may be more successful.
If universal negro suffrage is a fixed fact,
which we are unwilling by any means to
admit it is of the most vital Importance to
both the white and black races, that the
latter should become useful, intelligent and
Industrious citizens as soon as possible, and
anything which tends to promote this end
will prove OF incalculable service to the
country at large. We have never supposed
the little education which itinerant North
ern political and religious pedlers were
giving them would do much to raise their
mental or social condition, while the social
and religious is1s which they were imbi-
bling were positive evils, at least in q civil,
If not moral, point of view.
The requirement and possession of pro-
perty, obtaining bona tide interest in the
good government Of the State, will serve as
a sheet-anchor in the perplexities and dan
Mt NH
gro suffrage will surround us. If the col
ored people become property and
taxpayers themselves they will be 10th to
follow the miserable et-baggers and
penniless political spendtbrifts into their
ruinous attempts to subvert law and order,
peace and prosperity, to the base purposes
of their own impudent and selfish ambi-
tions. One good citizen, pecuniarily inter-
ested in the welfare and sound government
of the country is moro likely to take coun
sci of the more intelligent citizens equally
or to a greater extent interested in the
prosperity of the country, than to run af-
ter s. strange gods in the persons of I'M
known political iayhawks, whose only in
money they can draw from the treasury
and whose continued residence depends
upon their ability to keep in Office.
We are not satisfied entirely as to the Or
ganization and purposes of the Sc Freed
mems Saving Banks" It seems to be as
much a political as financial institution,
but yet we are unprepared to condemn it
altogether. We would much prefer to see
the colored people of this city or State or
ganize an institution for themselves, and
bring to their aid the honesty and financial
ability of gentlemen we'll known in this
community and State. Such an organiza-
ton would have the sympathy and support
of our people, and would be conducted
with the utmost safety and for the greatest
benefit to its patrons.
1t would also be free from another OBJ
lection, to which we have heard the present
organization is subjected. The money on
deposit would not be loaned out at the
Morrill, but put in circulation here; thus
enabling the industrious laborer, not only
to secure the interest upon his deposits,
but reap the advantage of its continued
circulation. The prosperity and safety of
all the Southern National Banks and pri-
vate banking institutions. in the face of
the frequent suspensions and failures at
the North, is sufficient answer to any
charge that safe investments and loans can
not be made here.
lo I, L.
city, is under the temporary charge of
George M. Arnold, an intelligent colored
man of trustworthy and reliable character,
and so far as his control extends, there will
be faithful and efficient management of the
affairs Of the bank. We trust his better
Judgment and honest convictions will con-
fine his labors to the welfare of his race,
rather than to continue to organize them
in combinations hostile to their white
friends, and as he we'll knows, against their
real interests.
The Freedmen, however, will do we'll to
read the circular of General MILES, and if
not to follow his advice, at least to heed its
admonitions. Let them give up all ideas
of wealth and prosperity to be derived from
their liberation and their newly acquired
right to vote. Let them understand that
their future veal depends upon their own
good characters and honest industry.
Forty acres and mule" did we'll enough
to deceive the most ignorant into a support
OF the Adventures, but we opine all have
found out by this time that property is not
to be acquired by constant attendance upon