The Colorado statesman., 1912-04-20

mental and curiosity stages and are
d. mo1strating their incalculable
worth to a people who heretofore had
little or no access to the circle of
finance. Everybody knows the diff
culties a negro had to encounter in
negotiating loan at a bank, before
the arrival OF the negro banker. OF
course If uegro had AL gtlt-edged
security, worth a hundred cents plus
on the dollar, he could secure a loan
and usually such negro didn't
need 1t. And If few negroes in the
community wanted a loan of S25 or
$50 each, why they could be accom-
modated on their general reputation.
But when it came to getting enough
money to last you until you got out
of the bank, why that was another
story. The general custom seems to
have been something like this: You
dropped into white bankers estab-
lishment, stood around half frightened,
first one white man and then another
came in and had his wants supplied,
in the meanwhile you continue to be
crowded further back into corner.
After what semed to be ages the
, cashier looked up, saw you and asked
you: WELL John, what do you want ?"
You fumbled around for words under
the spur of his looks that you must
hurry up. Finally you blurted out
that you wanted to see if you couldn't
borrow $50! why, what do you
want with all that money!" You
frame up a blood-freezing tale of dis
tress, and are asked what white man
can you get to go on your note? You
name Mr.. So-and-So, the note is
drawn up, you spend an hour or two
looking up Mr. So-and-So, stand
around awhile longer, finally get your
note signed and with beating heart
return and get your $25 or $50. The
coming of the negro banker has
changed all of this for all except
those who like that style-because
they're built that way Now, if you're
anybody at all, you can at least get
decent hearing-and If you mean bus
mess you can even go back, take a
seat and explain your difficulties to
man who sympathizes with and is
willing to help you because he has
been there himself. Negro banks have
by increasing competition made
things easier at the white banks for
negro customers. The rise and de-
yelopment of negro banks is not with
out interest The first negro bank
was established in 1888 in Richmond.
There are now 81 of these banks, with
Mississippi leading with eleven. Flor
ida, South Carolina, Maryland, have
one each, Oklahoma 2, Texas A. There
are four negro banks in the north.
Deposits in negro banks aggregate
more than $7000,000 and with a COM
bined capital stock of about s2,000,-
900. The negro banker is about the
safest banker on earth, for the reason
that he hasn't learned the game of
high finance as played on Wall
street; he doesn't have to keep up ap-
pearances in the matter of automo-
biles, etc; he knows that strong
forces are against him, not because
he's a negro, but because he is
competitor in the sanctum sanctorum
of modern power; he knows, too, that
the world is watching him and that
he has to depend for business on a
people many of whom would rather
for their money to go down in the
crash of white bank than to be safe
in a negro's bank. In other words,
the negro banker has more to gain by
being straight and more to lose by
crookedness than has any other class
of bankers in the world. Negro banks
can fail of course, for in this life
there are no dead rtainties-except
this: We are certain not to get out
of life alive. But for reasons already
tba obonnac tan ta
against their failing. They ask and
need confidence. Two-thirds of the
business transactions of this world
and all of the business with reference
to the other world Is based on faith.
The arrival of the negro banker
means a new vantage ground for the
race in its struggle up the long, icy
slope of life. Negro banks are not
members of the state guarantee fund,
for the reason that as there are so
few of them as compared with white
banks, they would be taxed out of ex-
tstence by the numerous assessments
that must be forthcoming whenever
such a bank collapses from bad man.
agement or is wrecked and looted by
yeggmen.-Dallas Express
Our sprightly New York Illuminated
contemporary Life has done a public
service In issuing a "Spendthrift's
Number March 14, In which we find
the following as a foreword
When this race has passed away
1t will be celebrated in history for
single idea, of which we are not now
SO supremely conscious-and that is
our credit system. On basis of nat
ural resources we have built up a
structure so huge that 1t fairly reaches
the sky. 1t is a vast bubble, on the
surface of which, like inspired insects,