Mexico weekly ledger., 1876-09-21
THE FREEDMAN'S BANK ROBBERY.

All CMVhfnIshtN ReC1tkI OF the Means by I
which the Freedman g BaD X was Plum |
dered of Its Imlue nse Deposits by Rsdi- |
cal Office-Holders and Thieves-A Rec
Omme e,sbatiOn that the Government
Should Pay All Depositors, Principal
and Interest.
Col. Conkling, of New York, broth
er of Senator Conkling, and himself a
former Republican member of Con-
gress, recently addressed Tilden meet
ing in New York, at which large num-
Der of colored voters were present,
when he gave the following interesting
account of the way in which the Freed
mans Bank was despoiled and the little
savings of thousands of poor colored
| pockets of Republican politicians. 1t
might be added that Col. Conkling, at
the breaking out of the War, raised, at
his own expense, the 84th New York
| Regiment, and commanded it in the
service of his country. Col. Conkling
said:
Among the damning infames of Grants
| Administration is the betrayal of the trust
assumed ~ the incorporation of the Freed
mans Savings and Trust Company. While
we denounce the frauds, swildles, eXtor-
tions and perjuries Of the numerous Rings
at Washington and elsewhere, which have
|
poverty and despair, we must not overlook
this meanest of all the outrages OF which
they have been guilty. Here was rob-
berry of ten-fod atrocity--a robbery OF the
most helpless class of our pOpulatlon-a
robbery Of those who, for many reasons,
had the highest claim upon the justice, not
to say the generosity and protection, OF their
white brethren.
The organization of this institution was
prompted by the nobleBt of incentives.
INrI . &nrI nTayy or
hered to, its management rejected Inc
highest honor on all concerned. Its charter
was reported in the United States Senate by
Charles Sumner, on the 18th OF February,
1865, and it was approved by Abraham Lin
coin, and thus became law, on the ID OF
March following. 1t is not necessary, in
this place, to say much of these men. The
iormer had consecrated his entire public
career to the promotion of the best interests
Of his fellow men, irrespective OF color,
creed, or lineage. He had never sweryed
in his fidelity till he was stricken down, at
the post Of duty, by the Vindctive tools OF
Grants Administration. The other, the
Great Emancipator, when he put his hand
: to the proclamation which struck the
shackles from the limbs of four millions OF
men, appreciated fully their needs, and
, accepted them AS the warCLs of the nation.
Had either of these men toreseen the base
uses to which this institution was TO be put,
/ it is safe to say that its charter would never
have seen the light.
Many thous an(Is Of the newly emancipat-
ed slaves had been recruited in our armies.
, Once clad in the uniform OF the united
States, there was no more loyal, no nfaEei
, soldier. 1t was not feeling Of revenge
against his former master that animated
I him, but an unspeakable sense of gratitude
+ and of new born patriotism. New the negro,
too. had a country, and he was eager to per-
il his life in its defense. The battle fields OF
the South everywhere attest his bravery
- | A n HiSriNlinp q
+ fled in cowardy terror from the presence
! Of the foe. His devotion to duty, his earn
;. estness to act well the humble part assigned
u 10 him, his cOntiding subrlisslveness, eX
u torted the highest praise even from inos'
j. who had looked coldy upon his enfranchise
: ment. His blood, and. If need be, his life
- was freely given for the country that hat
= conferred upon his race the priceless bool
: of freedom. | may add that during m
e own term of service in the army, had fire.
q quent opportunities OF observing the bat
% talions OF col0red troops, and accordlngl.
~ II speak what do know and testify that
have SEEM
The war was about to close. A large sun
would necessarily be disbursed for the pa
s. and bounties Of the colOred soldiers. 1t wa
ra foreseen that this would be the signal for a
onslaught upon these men by a horde c
10 spectators and adventures, intent upo
al despoiling them OF their money. Unde
ID these circumstances, the ilustrious states
- man who, as we have seen, reported tn
20 charter of the Freedman's Savings an
- Trust Company, conceived the phllanthroE
IS ic purpose of providing depository wher
their blood bought funds could be receive
IN and invested for their benefit. BY the act
80 incorporation, 80 of the most prominent eli
' u liens, of all sections of the Republic, incluC
~ ing such names as Peter cooper, Wllllal
er Cullen Bryant, Gerrit Smith, William Cla
~. lin, and Edward Atkinson, were appolnte
Il the first trustees OF the corporation. TT
Il fifth section of the act provided: ''That II
d, general business and object of the cOrpor;
c. tion hereby created shall be, to receive {
p deposit such sums OF money as may fro
time TO time be offered therefor by or on b.
half of persons heretofore held in slavery
1g the United States, or their descendants, al
r. investing the same in the stocks, bond
;s | Treasury notes, or other securities OF Il
]" United States.' By this means it w
's fondly hoped and believed that the freedm'
rs would be encouraged in the exercise OF L
OF dustry, so that they might acquire propert
is and to the practice OF frugality, so that tn
=; might husband their resources. 1t Is II
81 too much to affirm that no similar instit'
~ ton mas ever existed which would for a m
ment compare with this in the benetlce
b. work which, if properly administered,
as was calculated to perform.
=. The scheme was presented 10 the color
IL people, by means OF pamphlets and cIrc
n ars, in the most captivating form. Eve
1T ,:here the following words conspicuous
as appear: 'sThe approyaI of the charter
nn this company was one OF the last official az
- OF tie martyred President: Abraham LII
llS coin. - This is = beneCOLeNt insttuuo
All profits go to the depoS'tors, or 10 ed
riSI Gational purposes for the freedmen anu In'
,er descendants.
~ So far all looked bright and encauragin
u Deposits were made to the amount OF hi
hd six million dollars. Even after Grant ;
er- cession to power, it appeared as II the ct
his rupt vermin which every where dedled
ct high places Of the Administration had be
- effectually deprived of the pswer to tami
'l'- with this sacred trust. UnhaPpuy, unt
the new order of things, this hope prov
MS to be but snare and delusioil. Admu
os Burke has somewhere said ''No prGre
20 is secure when it becomes large enoug
'hu tempt. the cupidity Of indigtnt power
na- Grant had not been wear in office bef'
vas the rapacity of the crew which surround
mid himr--Boss Shepherd, Hallett kiliboul
mo. John o.. Evans, j. v. w. Nandefburs
lnS and others, all of them confessedly me
1ar, 80 81, Do, inor iii w