The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-12-24
Now the Poor Freedmen were Robbed.

AAON hhN Obs NtTt
One Of the victims Of the Freedmans Saw
ings Bank. which was broken by the Wash
ington Ring and its confederates, who pro-
icsscd 10 be the most devoted friends OF the
colorcd man while they were picking his
pockets and stealing his little earnings, has
addressed to us the following inquiry:
SIN Please inform me through Your valuable paper
how eau procure which has been deposited in
the Freedmans Savings Bank which closed about i've
years ago Your CONSTANT RrApEA'
This matter Is now before Congress, with
view to closing up the affairs Of the COM
pauy. On the 30th November, 1878, there
was a cash balance in the treasury. subject
% the order OF the Commissioners, OF
s2so, 47S93. A bill has been reported in the
House for the purchase OF tho bank building
at Washington, at price far above its
actual value, which, If passed into q law,
would add so much more to the next divi-
dend, which Congress will doubtless direct 10
be declared in January II would be a cruel
injustice TO retain this accumulated fund,
and anything that may be added TO il, while
thousands OF poor and frendless depositors
are suffering for the want OF their mite in
the distribution.
When the bank closed ts doors in 1873
thcre We're CLIP depostors and other cred
itors, and the liabilities exceeded three mill
lions Of dollars. Two dividends have been
paid. The first, Nov. /, 1875, OF 20 per cent
amounted to sj93. 239.3). OF this sum there
still remains Il balance uncaled for OF
SiGGl2Ol. payable to 80, Dol depositors, most
OF whom cannot be found, and many OF
whom were driven TO premature graves by
tne treachery and thevery of their pre-
tended beneiactors.
The second dividend was Of 10 per cent,
oud Amounted to 29G,Gl995, OF which there
romans a balance uncalled for Of Sl7,5Osi
10 be distributed among 80, $50 depositors.
BASED upon the principal Of the first div-
cend, IL will be observed that the number Of
missing depositors, as well as the amount OF
money due to them. largely increased in the
two years and a quarter that elapsed between
the Two payments. Time. neglect, and mis-
cry had told upon the deludcd and ignorant
victims Of this swindling concern, so that
far more than half Of the original deposit
tors cannot be traced among tho living.
In 1873 the Republicans in Congress, who,
by special legislation, had opened the door
10 the robbery Of the bank, and consigned
it 10 the tender mercies Of HENRY ID. COOKE,
Boss SHEPHERD, HALLET KILBoURN, LEWIS
CLEPHANE, Gen. o. o. HOWARD, JoHN r.
Evans, and other members of the Washing
ton Ring, 10 say nothing Of the colored
brothers who co0perated with them, under
took 10 settle its affairs after the failure, in
n way TO eat up its remaining substance
They authorized three Commissioners
To be appointed, with n salary OF
$1,000 each. and Gen. GRANT named
JONI A. j. CRRswELL, ROBERT PURvIs, and
II. ii. T. LEIPoLD, all known as peculiar
friends OF the Ring that had stolen the say
ngs OF the freedmen. Two Of these Com
mlgsionors do not claim TO have rendered
any service but to sign their names. LEI
PoLD, formerly sharp clerk In the Treas.
ury, had the exclusive management Of the
whole business, and has conducted it to suit
his own interests, receiving from CREswELI
and PURyIs five hundred dollars each yeal
for acting in their stead, while they have
drawn regularly, as pensioners on this poor
fund, twenty-five hundred dollars per annum
for doing nothing.
From July ID, 1874, % Nov. 30, 1873, Tho
salaries of those Commissioners sum VI
S30,5ls.32, those OF attorneys sd 1852 anl
those Of agents SGi22).j7, These with tn,
other expenses aggregate S3ls 1884 sine,
TIC bank WIS turned over to the custody o
two white Commissioners and one colored
A SUM nearly equal to one-half Of the dvi
donds paid out was thus consumed in ex
penses alone. That is to say, it cost owe
scyenty-llyc thousand dollars a year to rul
this broken bank, or to eat up the little tina
WAS left by the thieves after the burglar
alarm had been souDded. The responsibilit,
for this most disgraccful Of all stealing be
longs primarily u the Republican party II
Congress, which deliberately took away tn
safeguards of tho charter, and secondaril.
to the Washington Ring. composed Of Re