The Nashville globe. [volume] (Nashville, Tenn.) 1906-193?, 1909-01-29

attention to what he is doing in one
particular line, the banking business.
While this is comparatively a new
field and while his experience is nee
essarily limited, yet he has shown
marked aptitude for mastering the diff
ficulties confronting him as banking
factor. He has come forward with
reasonable rapidity, as may be shown
by the fact that. though coming out
of slavery less than fifty years ago
densely ignorant, Intellectually, and
without a dollar, financially, he has
averaged more than one banking insti-
tuition for every year of his racial life
as a free man. This is one of the
healthy signs of his progress and
should stimulate and encourage his en-
deavors.
The growth of banking institutions
among our people is the natural Sc
quence of their material progress
their accumulation of wealth, their in
tellectual requirements and their par
ticipation in business affairs. They
have been apt students in the econom-
ic activities Of the times. They have
accomplished more in the way of
sound inanciering, in conducting
banking institutions, since they have
begun than many other peoples have
accomplished in many times the same
length of time. Those who have been
managing these financial establish
ments have done so with the greatest
amount of caution. They have not
INDUCED in "get-rich-quick" schemes
nor have they engaged in that danger
Gus and unsafe fnanciering which has
wrought such havoc with white bank
ing institutions that have been tempt
ed to engage in doubtful speculations.
Had they done so, it is reasonable to
suppose that they would have met
with the same disastrous fate as has
befallen those institutions that have
been wrecked by dealing largely in UNI
warranted financial transactions The
Negro institutions have pursued that
course which is backed up by the wise
and safe guarantee that honesty is the
best policy.
The address and report of President
R. H. Boyd and Cashier J. c. Napier, of
the One-Cent Savings Bank, of this
city, at the annual meeting of the stock
holders, were both able and encourag-
ing, showing that institution to be
in a prosperous and solvent condition
The management of this bank has also,
as usual, declared a dividend The
manner in which this institution has
been conducted has won the confidence
of the people and has been as great
a benefit to them educationally as f.
nancially
We wish to commend the action of
the Negro citizens of Palestine, Texas,
who have organized and will operate
bank. Palestine is a progressive,
thriving railroad center of Eastern
Texas. 1t has a large colored popula-
ton and is surrounded by prosperous
farmers engaged in every class of agri-
cultural pursuits. The prosperous con-
ditiOn of the people of that community
has made necessary the establishment
Of bank. Rev e. M. Griggs and
Prof. H. L. Price, both men of means
and business standing and we'll known
throughout the state, will be president
and cashier.
AS the Negro goes forward in ma
terial progress he will take his place
in the financial world by the estab-
lishment of banking institutions
through which to transact his finan-
cial business affairs with safety and
facility
DEAN HUBBARD OF MEHARRY.