Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1874-12-19
THE FREEDHEN'S BsNK.
HoN the SWiHdIe was sisnREed-An II.
fort on the Part OF Negroes OF Ten
nesses and kentueky 10 "Gst
their Money Hack"
N TENNESSEE.

- AEH2N Es31Ehs-
From the Nashville Banner.
II Is little wonder that the deposition
OF the ETeedmen's savings bsnk sh0Ull
be restive and even clamO,ous for Ia
funds out Of which they have bs en- lie
franded. Ejghty-fiye thousand dollar
was nOta very small amount TO be takeI
rom this community to be squsndereC
I in Washington City. One little know.
! the hsrdsblps which have bsfallen thos,
/ p0OT people who had trusted sn instltu
/ lion, on the way 70 bankruptcy, tOC
long. Some had stiuted themselves
had t0iled and had placed their small
savings into a bank which offered them
I Fix per cent. interest, aud with its col.
lapse they were themselves COLLAPSED.
J HnTough It's mismsnagementt they have
been reduced down 20 a condition a lit.
tie less than begEsTy. They do not
hope 10 attain 10 that hight Of prosperi-
ty, 10y which they had been stimulated
on t1 renewed eXertiOns, perhaps, for
years to come, One thing has been
brought to the Surface about the branch
bank at Nashville, that has not. until
now, reached the public ear. The Sat
urday night before the downfall OF the
bank, the actuary at Washington
ordered all the money on deposit here
10 the parent bank. In obedience 10
such orders the cashier, little knowing
that was the last he would ever see Of
the amount, forwarded Il, and on the
following Tued he was dispatched to
pay out no money, and to receive none
from depOsitOrs. No other explanation
was given, though it wSs urgently de-
mandeG. For time not only the de-
pOstOrs, bat the cashier himself. was
totally in the dark as TO what was trans
piTing In Washington. TheIe was not
more than enough left in the branch in
this city to pay the cSsdieT's salary for
the previous month. Having faith in
what proved Rotten institution, he al
50 lost deposits as well a. outsiders. 1t
was well known 10 the officers OF the
parent bank at Washington that the
large dei0sitors here had grown shaky
in the knees, and had given the required
sixty days notice OF their intention TO
Withdraw their deposits. The time had
about expired, when the bank suddenly
''slumped through" and nothing was
left but the blundeFs Of an abortive msn-
sgement, with ali tbs depositors
The depositoIa had been |
misled by the deception praetieed /
by the management at Washington, |
and the further assurance that the gov
ernment, having put the system into
operation, would Become responsible to
the depOsiiOIs. Besides, the eOlored
race had a sort OF blind faith in the
ability Of Uncle Samuel to protect them
n all their monetary affairs, aud this Is
Why they ciamoT &c him for restitution.
The deposit0Is here are so deeply ia
earnest about the matter that we under
tand they desire 10 cooperate with the
lepOsitOrs in Louisville and ia all the
cities to achieve this end.
IN KENTUCKY.
som the Caauer-JournalI
4 large meeting Of the dspositors in
he Freedmen's saving bank, OF this
ity, was held in the jackson street col
red Methodist church to take some
teps looking 10 the recovery OF the
money, or a part OF The smo-nt, ofWhich
hey have been robbed by the criminal
aismansgenIent OF that Institution. al
red FTOman vas chosen chairman OF
he meeting; Vincent Helm, yice- -presi-
lent; w. II. Stewart, secretary; =. Il
Harper, assistant secretary. On motion
be following committee on memorial
vas sppOl uted Messrs. Horace Morris,
:. II. Harper, Isaac Curtis, Vincent +,
Helm, and A. q. Drake. The Rrst Item
I business after the organization OF the |
meeting vas the pFasentsti IN Of a reso-
ltiOn BY The party opposing the adVlso.
= board Of the bank, eensaring that
Ody for incorporating the condition /
Z the FTeeGmen's bank 70 the people Of ,
Bis city, causing them 10 believe the
ank was l02tyOlled by the general gov
and that Ii wsS OF tirm :
thereby depriying tlieni Of !
lsFge sgra Of money. The resolution I
-ss hOtly discussed by tas fsienis and /
ppOnentg of the advisory board, and {
Dally adopted. The advisory board, it
yell kBoWB, l. composed Of some Of I
he best citi.ens Of Louisville (8hite l
I'd colore1), including nearly =, th3 :
olored clergy, sld were certainly un- c
lsuy abused by the resolutions. Sub [
.Queniiy the following committeo on :
ismorislz reported tbe following Eetis c
On AMI mem9risi 70 congress, asking 9
Y some relief u ihe 4epOsltoFsi j
MEMORIAL TO oONGRTss,
D the Honorable, the House oI Representa-
ive, aud Senate OF the United States IN z
Aougrees assemblies >
ffF eA''''"+ tcSptcudliy shOWeth G
firsi- We, deposltoTs OF the greei- !
ems saving aud tru,t company, and 3
tizens OF tie State Of Kentucky in =
Invention assembled, pray congress to q
.ke such action Ia the matter Of said n
reedmen's savings aud trust company &
viii result IN winding up the business E,
slhe earliest day practicable, snd paw Z,
e TO depositors their dGes resulting irom a
spOsits. II
Secoad-Ihat the depOsi;oTs In this b
ste are creditors to the nslltufion in d
.e sum Of nearly one hundred and h
xiy-tive thousand dollsrr, which suu q
icy can III stf1rd 70 leave On deposit f0r a
J indefinite time. h
1hiId--Inat the institution was chaI- a
red by act Of congress, that body re- :.
rvins % itsslf the right to inspect tbs k
'aks and general condition Of its af. d