New national era. [volume] (Washington, D.C.) 1870-1874, 1872-10-24

This institution, established as teacher
of the freedmen in the value and Importance
of saving their hard earnings, has been so
emnently successful in its aim and purpose
as not only to be an instructor OF the freed
men, but by its careful business management
has attracted the patronage of large and
increasing number of white depostors in the
District of Columbia. This has excited the
managers of some of our white banking lnstl-
tutions to such an extent as to rouse their
jealousy to the pitch of slanderng the FREED
mans Bank and attempting to create dis-
trust among its many patrons. The Freed
mans Bank, notwithstanding the ISLANDERS
Of enyious bankers. is fully competent TO
meet promptly any Legitimate demand that
can be made upon it,
The slight "run' Of last week had no found
alton in reason, as was we'll shown by the
promptness with which every demand was
met at the counters of the Freedman's Bank.
The dcpositols and patrons of the Freedman's
Bank should remember that indulSlng IN
run" upon that institution is simply attempt
ing TO break themselves, as the bank Is con-
Quoted solely in the interest OF the deposl-
tors. This bank has been quite help to
colored men and women, as we'll as to some
of the churches in this community in the
matter of loans through which churches have
been erected and private property improved
and increased in value. Should nun on
the Frcedman's Bank neCessitate the calling
in OF money loaned to our colored churches
and individuals on short notice, it needs no
prophet to foretell the large amount of SUI
fering sure to follow.
| 4 ''run' on the Freedman's Bank will not
be successful in damaging that institution, as
| it is abundantly able to meet all demands it
might, however, have the effect of reducing
the dividend or interest to depostors by
forcing the bank to keep extraordinarily large
balances on hand, to meet the demands of
patrons blinded to their own interests by the
ISLANDERS of jealous bankers, whose institutions
lack that standing in the community for which
the Freedman's Bank is so deservedly con-
spcuous.
Colored depostors especially should be
alive to the great opportunity afforded by the
Freedman's Savings Bank, for not only taking
care of their money, but Of paying larger divi-
dends than any other institution of the kind
in the city. Among the officers of this insti-
tuition are colored men of ability, who have
the highest interest of their race at heart !;
among its employees are young colored men
who are acquiring a knowledge of business
and enterprise not afforded to colored people
by any other banking institution in the ma
ton. Those bankers in our midst, who are
striving by base insnuation to create a feel
ing of distrust among the cOlored depositors,
would slam their doors in the face of any col
ored young man, who would dare to ask en-
ployment at their hands.
The Freeman's Bank is able to pay every
cent due depositOrs on demand, yet it is not a
sensible thing to make the demand. Such ac-
ton, if made general by depostors so as to
include all the banks in the city, would very
soon be the death of all our banking institu-
tons and a general breaking up of all bust
ness in the District of Columbia, causing
great suffering, and all for the lacking of the
exercise Of a little common sense among de-
positors. COlored men, women, and chill
dren, remember that your lifelong enemies in
this community are striving to break down
the Freedman's Bank. You have by your
good sense shown that you can save money,
and erect the finest bank building in the South,
continue to show good sense by not allowing
the eX-dealers in your bone and sinew to
frighten you from the support of an institution
that is powerful instrument in the work of
your advancement. BY your steady sup
port, and continued confidence of the Freed
mans Bank you crush one of the fondest
hopes of old fogy bankers of putting new life
into their fast decaying institutions whose
chief support came from your unpaid toll.