Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1910-12-20
THE OLD FREEDMAN SAVINGS
EAMK


Mrs. W. H. FELTON,. Gainesville. Ga.
/ My Dear Madam: There is a subject
! that I have long wished some capable
person would write up for some periodi-
cal OF wide circulation.
1 The subject is now seldom mentioned.
I II is almost forgotten by those who
were familiar with 1t. personally, and
/ IL is utterly unknown to the majority of
/ Americans. still think il has had a
vast. though unappreciated influence on
the economic conditions of the south, If
not the whole country.
I know I am not capable of doing the
subject justice and after rejecting on
4 the matter, 1 have made bold to address
YOU as a person well fitted for the
task.
/ You doubtless remember how the
! Freedman's bank was established by
Yankee philanthropists to encourage
thrift among their beloved colored breth-
rem, and how negroes were induced to be-
ilieve that II was a government institu-
ton and that their loyalty and gratitude
TO their deliverers as well as self-ln-
terest and race pride demanded OF them
! a willingness to deposit their money In
the various branches of the so-called gov
eminent institution.
You will not forget how II became
passion a food, a craze, even equiValent
TO a patent OF nobility, to have bank
account with the promoters of the insti-
tutionA ,s
some of these negroes almost denleo
! ,bernseIves the necessities of life TO get
a credit page on their books.
Then how cruelty the poor creatures
were betrayed by their frlenos ana
henefactors,'' Their money was taken
when the bank was wrecked
These deiuded sufferers felt as IL the
earth was crumbling under their rect
their confidence was so ourageously
shattered. -
since that time their motto has been.
"Iet us eat and drink. for tomorrow
we die" Since then II has been eat anu
waste. - ao,,1
contract work in Atlanta and he had
very respectable bank account with tnls
Ereedman's saving department AFTER tlie
coTanse he never tried to save dollar
80 HE wages. The majority OF negroes
act as ~ they despised economy. Ihey
are AGAINST the principle of laying up.
This Is partly owing to the legacy iel'
them by this defunct Freedmans BANK
institution. II was entirely necessary
! rat the race should learn habits OF
thrift to make their opportunities valu-
able TO them.
II a. nlainly evident that the condition
/ NJ the former slaves in the south would
have been vastly improved IL their 1altn
| IN their so-calIed friends and dehVerers
| had not been crushed out by the wreck
ing of their bank.
II Is known that negroes will hire OUT
20 Cinnamon and foreigners before they
have learned to speak the English IAN
guage. Respectfully a. Snii n.
The story Of this Freedman's bank
was well known TO the country 80 years
ago. When first went to Washington
CITY there was pointed out to me the
pretentious once building where the
friends and deliverers" wrecked the
Freedman's Saving bank 1t was hand
some three or four-story brlck, across
Pennsylvania avenue from the treasury
building of the United States govern
ment AS I had no particular interest
| IN me concern did not collect the re-
ports that were published, and as l was
not interested in those yankee philan-
thropists." 1 did not devote a scrap
book to the cause.
| Sometime later 1 became so much In
terested in specific railroad schemes
which were seeking to rob the tax pay
ers of the United States of millions OF
dollars. as well as millions of acres OF
public lands. that 1 overlooked the steal
\ from the poor negroes of the country
but I remember the newspaper notoriety
that was given to the subject In 1910 and
! earlier II was a notorious swindling
scheme, and like many quick-get-rich or
| ganizations of the time, II had no mer-
4 CIV on the deluded victims of the swim
+, die.
These robbers had been swindling the
/ government on army contracts during the
! war and in the rush and hurry that
came after the surrender they had their
hand In" when an opportunity to SWIM
die the ignorant arrived. 1t is generally
understood now that the negro in north
ern cities is very unpopular as citizen
or a neighbOr. After the swindlers had
squeezed the negTb's money out of him
and sucked him dry they had no further
use for him.
TEr HOMIE REAnTIFTyI,