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

this cause happens to be ono whic
it is most difficult to deal with be
cause it is Inherent in the enterpria
itself, and no wisdom which th
managers Of the Bank can exercise
can counteract or remove.
This institution oonspiouousl
and prominently represents th
idea Of progress, and elevation Of
people who are just now emerging
from the ignorance, degradation
and destitution entailed upon then
Thy more than two centuries Of sla
very.
| A people who are hated not be.
cause they have injured others, but
because others have injured them
This feeling of caste, this race
malignity,. has naturally. enough
taken about the same offence at the
Freedman's Bank, as it did the exist
ence of the Freedman's Bureau.
| It is as desirous to destroy the
former as it was to destro, the
latter.
Fourth. Still another and greater
source of evil has been the sense
less runs made, from time, to time,
upon the Bank. These have COM
pelled the withdrawal Of large sums
ofmoney from very safe and profta-
bic investments, and have diverted
the regular business of the Bank
from making money for its deposi-
tors, to the work Of obtaining the
means of meeting the demands of
these disastrous panics. The
Freedman's Bank has been SUBJ
jected to no less than three of these
raids during the last eighteen
months.
The run made upon the Bank by
the failure of Jav Cooke l. Co., cost
us not less than fifty thousand
dollars from safe and profitable in
gestments.
Add to these causes the general
9rostration of business, the great 6
oss OF confidence in all moneyed {
institutions, the disturbed condi- c
ion Of afairs, especially in the t
district OF Columbia, where, most Il
t Our loans have been made anal Il
on on will easily understand wbyI
1e Freedman's Bank is uow under C.
heavy strain, and found it neces- Z
Try to seek protection in the recent E
nendments to it's charter. r,
In respect to the future of the s,
ank, some of the main sources of 8
anger and ruin have been entirely ;r
n,
The trustees governed by an in
easing concern for the safety OF Il
cir depositors rather than for hj
rye profits in the way OF interest, N
we abandoned their unwise COM A
'tition with others in the offer of a y.
gh per centage Of interest, and ic
We now resolved to pay only such d.
rate as the ret earnings of the y;
hk will warrant them in paying. v
They have also given up their di
Id and visionary schemes of bank an
!, and have abandoned the policy m,
establishing branches il remote G.
rners Of the country. pr
They will now establish none na
'ere there is not a very strong VIC
Of their becoming SELF wi
Not only have they ist
carded the policy Of extension, ms
y have adopted tho policy of th.
sing up as speedily as is conven- an,
t and practicable the non-pay- ha,
branches now in operation. RAJ
ey are not only for decreasing the
number Of branches, but also e' tle'
number Of employees, and for W. ~
ucing the salaries Of their agents
he lowest point consistent with pla
aring the services ofgood men. tina
With this ,retrenchment in ex- m 'an !
ses, with wise and vigorous man no,
ment, and with the returning gro
idence Of our people, it is be- It !
ed that the Freedman's Savings IN
Trust Company, which has the; xne
powerful instrument in tha,
noting the moral. social, and buil