The advocate. [volume] (Charleston, W. Va.) 1901-1913, 1907-02-28

The sixth nSIai report : 81 \ tie
Mound Bayou 4xiness Ieague shows
that there aS&Skorty busineSa SpiHcSe
~ the Town; blowing an ASkfeet&te
or ninety, thoufNRd dollars capaS A&NHn
doing g bns,ne Of one hundySd RMd
sevePty-axe thSBand dollars, to WhinN
must be- Adda%Nhe postof1ce. money
order businesa rhere are elevalN pub.
lie buildings Including rtwo-sefSded
schools md nA public schQOIsGhH
town hall butlding. altogethefs valued
at twenty thouSAnd dollars. ThaaHers
chants tiths t0wn are generAii re-
crutted MHm ththrifty farmer, class.
who. haYfh6 clS4ed their farms, move
a into the. tsxn M business, social and
ednca stSn g ,adysntages: ~ 49, V,
IN s1904s fhe Tank of Mound Bayou
thousand doiisTsS It has it's own build
ing. u fwostorys pressed-bric build,
Ing, with u mo- Kern vault, tims-lock
safe and other fixtures. The total
clearing OF the hank from September,
1s,6, to January, 1906, were more
than, three hundred thousand dollars.
There are now, as near as have
been able ito ls6rn, about thirty-one
banks In the United States owned and
conducted by Negroes. Twelve OF
these are In thu State OF Mississippi,
eight are In Virginia, four In Georgia,
two each ,in Tennessee, Arkansas and
Indiar Territ6tY and one each. pc
iieye. in Alabama, North Carolina and
South Carolina 81" - al :
At the recent meeting OF the Ma
tional Negro, Business League repre-
sentatives Of fsnrteen of these banks
met ; and formed 8 National Negro
Bankers Association. The purpose of
this associations f8 to encourage the es
tablishment OF new banks, to unite the
Negro banks az the country for mu-
tual support, md If possible, effect an
organization that will exercise some
sort of indireet control over the banks
already In exfstance. = ; >,
The Negro sYS Bankers Association
was formed nGtS merely, to encourage
the sstablishAAs0t Of new banks, but
to strengthsn hd protect those already
in existence Ne men who formed
this Organization. realize that a oatas-
trophe at this: time to one of the small
est and weakestsQf these banking in
stitutions Would shake the confidence
Of, the peoplRs in them all. They are.
therefore. desif0as of establishing an
which will put them in
a position where they will be able to
support each other when the necessity
for CO opera ti01 arises. One OF the
means SUGGESTED TO effect this was the
appointment Of an expert accountant,
who should Yasstgayery bank In the as
ISOLATION at leaHkfonce a Quarter, and
report upon fts standing to- all other
members 'of the sassociatio ion. w =. =.
In cqnclustoa NJ me say that know
of no better ihafcation OF gradual
progress or tina Negro people in the
direction OF thFiEk; industry and organ
Ized self=control than the existence of
these banks = 3 ss,s.Tke first need of the
Negro people emancf pation was
a knowledge 6f ahkN elements of civili-
zation. The gTeAaer part OF the effort
of the Negro aeople for forty years
has been spent ia, acquiring these ele-
mentary thiRgs 70 q very large ex-
tent the Negro pspple have been edu-
Gated by Negro teachers, and they
have reduced The nlitefacy OF the
masses of the. Re0Nle TO loss han ATTY.
per cent ,JegrgRs pc inteIIe Ca
paeftNs have bessS confined, too *ex-
clusiSely TO sthe ARgfe ssions OF school,
teacher or preac The fact Of the
existence OF these banks shows that
they are making REogfess in other d.
Eectfons. In my opinion there Is no
higher test of the41ntellectual and
moral fiber, Of people than It's ca
pacfty to; conduct successfully a BUSH
ness like o bank. HhiGh demands the
highest order OF Intelligence and in.
wolves great mora rssppnsibiiity.
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