The weekly Louisianian. [volume] (New Orleans, La.) 1872-1882, 1874-07-04

h 1t puts the destiny of the Freet
r mans Savings and Trust Compan
q more completely than heretofo1
e within their power and discretio,
}, 1t devlses an honest method {
keeping the institution in continue
and successful operation, while
3 at the same time enables it to &C
} complish all the objects usual
!, sought in suspension. Il com
pletely divorces the past from th,
} present and future. It separate,
the old from the new, and allow.
the dead past to bury its dead. Il
aims to protect the new deposito,
from all the mistakes and misfor.
tunes connected with the manage.
ment and past condition of the
Bank.
For the interests Of the old de-
positors it enables the trustees to
hold their securities as long as may
be necessary to reap the full
amonut Of interest they are capa-
bic OF drawing, and then allows the
trustees to fill up the chasm. which
may exist between assets and lia-
biities.
It puts it in the power Of the Off
GERS and agents of the freedman's
Savings and Trust Company to say
with confidence and truth to all our
old depositors, give US time and We
will pay you every dollar due you
FROM the company.
To the new depositors it enables
us to say with even more confidence,
you may deposit with safety and
profit. You are neither affected |
by past losses, nor past mismanage-
lnent.
Your money shall not be in any
way mixed up with the old, nor
aiken to pay old debts. It shall be
'eld as special, and invested for
Iour spcial benefit.
In one aspect this bill may be
aid to place the old Bank in liqui-
|ation, while it at the same time
reates a now one. It preserves
he old body, but informs it with
ew life, and gives it a better assur- ,
nee Of continued existence
What is now needed is wisdom, :
ourage, skill, and determination. :,
With these the Freedman's Savings
ank may be made not only a sue a
>ss in itself, but q grand means of y
access to the colored people Of the h
outh to whom it has already taught =
nportant lessons Of industry, econ b
ny, and saving. g
The history Of civilization shows Il
at no people can we'll rise to q e,
gh degree Of mental or even
oral excellency without wealth.
people, uniformly poor, and COM y
lied to struggle for barely phys ~
Il existence, will be dependent and r
'spised by their neighbors, and
Il finally despise themselves. NJ
lille it is impossible that every in. al
vidual OF any race shall be rich vi
d no man may be despised for u
,rely being poor-yet no people VI
D be respected which does not
oduoe wealthy class. Such a th
ople will only be the hewers Of fu
cd and drawers of water, and m,
L not rise abovea mere animal ex-
ence. The mission of the Freed =,
ne Bank is to show our people ii,
} road to q share of the wealth 4.
l well being of the world. It "B
, already done much to lift the W.
% into respecta6ility, and, with -,
ir continued confidence and pa .ne
1t cooperation, it will continue TO
reflect credit upon the race and wa
mote their welfare. rer
t has long been q bitter COM M.
int against the Freedman's Bank ~
it withdrew money from dis nay
localities and invested it here Th
he capital. The bill which has her
7 become 3 lawhas removed all
und Of complaint on this point
'rovides that loans shall be made bal
he vicinity of the different bran old
!, 50 that the people who deposit oro
r money may now feel assured g. e..
; it will not be withdrawn to o@y
d up Washington, but viii be con