Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1871-12-28


tanned its character but the marble Capitol,
and that, as if to prefgure the new era, ex-
tended its wings in all the wonders OF Its
classic beauty amidst the shock of conflict
and of death. And now, on the eve OF that
anniversary of the birth of Him whose
Blessed feet
Which nineteen hundred years ago
Were nailed for our advantage 10 tne pHlei
cross,
the stranger, whether American or foreigner,
stands in the midst of something more than
material metamorphosis. 1t was SAID OF one
of the Roman Emperors that he found Rome
brick and left it marble. Not less true Is the
eulogy that the republicans found Washing
ton in chains and made it free. They found
it a mis- SCRABBLE moekery and converted 1t into
a magnificent metropolis. My companions,
most of whom had not seen Washington Tor
| years, and easily recalled its former wretch
edness, stood in aniazement in the midst OF
the trophies of its present splendor After
riding along Pennsylvania avenue and observ-
ing the new residences going up IN every
quarter, and the broad streets laid with en-
during composite, we stopped on the noble
walk before the north front of the Treasury
Department and stood opposite the Freed
mems Savings Bank. Its history will form
a striking chapter in the annals OF these times.
On the east corner of the same block point
ed out the famous banking house of Corcoran
& Riggs-now managed, | believe, by Mr.
George w. Riggs. The contrast between
these two edifices is contrast between two
ideas, and suggests moral better than argn
ment Let US take two living men-men
| whose names are Immediately associated with
| these instilulons-W. w. Corcoran, the form
| er head of the little old banking house, at the
| corner, and William j. Wilson, cashier OF
| the new savings bank-the one white and the
g ,t.,t
States, and both sympathizers with the South
in the rebellion--Corcoran with the confede-
rates and Wilson with the slaves. 1t can be
no offence to The white man to say that, like
| his coored brother, he was of humble origin,
| and it is equally true that while he 70 irished
| under our institutions William j. Wilson was
oppressed and degraded. The willie man
grew in riches andin graces with his years.
Under former Administrations, before the
Sub-1reasury, he was the principal deposito-
ny of the national funds, and to this day his
II me is a letter of credit in financial circles.
When Congress, early in 1865, passed achar-
ter of incorporation for the Freedmeu's Saw
ings Bank, w. J. Wilson, the press Mt indom-
liable cashier, was engaged teaching school
on Twelfth street, near Il. in Washington City,
without remuneration. The trustees called
upon him to make the bank known to the
colored people of America, and he ldertook
| the work. His first office was rented room
| in small brick house in G street, where he
| remained for few months stemming the tide
| of bigotry against his race, and untiring In
teaching them the necessity of boarding their
surplus wages in some institution that would
keep them safely and probably. freedman
| in 1866 told Wilson that his fathers box had
been broken into and two hundrei dollars
stolen, but that the old man had ST twenty
Co., 1fll k.rs Ist., fr.t ,p,n
ment under Wilson's advice, in the Freed
mems Savings Bank 1t was the seed from
which has grown what is already a gigantic
and must become an overwhelmi' corpora
ton. Other deposits followed in RI pid success
| sion, and real estate was purchased at the
corner of Nineteenth and streets in Wash
ington. The operations of the concern be-
came too large in a short time, and 1t wa;
| finally moved to the northwest corner OF
Pennsylvania avenue and Nienteenth street
During this period colored soldiers began to
deposit something of their pay, and those
| who were wise enough to do so now reap the
the benefit of their wisdom. In the winter Of
| 1867 the bank was moved to Seventh street
| between L and +, where it remained for four
| teen months, until finally it was located in the
| new building opposite the Treasury Depart
ment, to which have referred There are
| few banking houses in America equal to il,
and yet large, commodious and beautiful as il
| is, 1t is to be still further extended, mas
much as the company has purchased the
whole of the western portion OF the lot, and
are even now ambitious to buy out Corcoran
& Riggs, so that the entire square may be
given up to them. 1t may be called tree OF
| many branches, extending through the South
and the Southwest. They have fine build
ing, with capable officers engaged in the
good work of collecting the savings of the
freedmen and SO boarding and investing them
| as that in the course OF time the institution
| will be second to none on the continent. The
| Washington deposItors are from one hundred
and fifty to two hundred day, and the daily
| amount of business varies from six to twenty
| thousand dollars. In four weeks these depo-
sits have exceeded the drafts by sixty thou
| sand dollars. No discounts are made for the
| public or for any of the officers of the bank,
and advances made only on security OF
real estate. Il is unnecessary to give further
details. The concern itself stands iii 81 a nong
| financial institutions. Its future may be
| judged from its present With ordinary care
and integrity it must distance all competitors,
| insomuch as il has secured the confidence OF
| the great race which, united for one object,
can accomplish almost anything. Imagine
| these millions of colUred men, women and
| children, all resolved upon boarding their
earnings in one banking institution, and then
contrast this unity of action with the savings
| banks in other cities and States which have
| grown rich because they have been preferred
| by only portion of the whites, and you have
| the story in nutshell. The architect of all
| this prosperity is William j. Wilson, thu
cashier, an earnest, hard headed, tru hearted
| man, with the Intelligence, vgor, and the
| directness of John W. Garrett Or "A George
| Law, and the conviction of an Oliver Crom-
well. Wilson is the W. w. Corcoran of the
colored men of the South, successfully emery
| lag from a ueadlier struggle, fighting agains,
| sterner obstacles, and perhaps surer of a
| grander future. Who knows but Il at in the
| years that lie beyond a reputation as pure, Il
| credit as high, may await the posterity of the
| colored banker rs that which has thousand
times rewarded the white capitalist?
| Fire. more destructive even than the Com
mnue to Paris, has partially destroyed one OF
the most curious and wonderful reli IS of me