Richmond planet. [volume] (Richmond, Va.) 1883-1938, 1921-01-22


In my power to better the conditions
OF my race"
The manifest inference IN this
statement Is that Mr.. Marcus Gar.
vey Is receiving as salary Uncome)
money from the shares III tho Black
Star Line, money from the dues Of
the members OF the Universal Negro
Improvement Association, gifts and
loans for specific objects. If he did
not mean this, why did no not say
that the Universal Negro Improve
rlent Associations income was from
ues: ,
In addition to this he has asked
for special contributions. In the
spring Of 1920 he demanded for his
coming convention in August, "a fund
oe two M |, Oh dollars (S2.040 900 to
capitalize this, the greatest OF all
conventions. In October HE arlnowl
edged Il total Of something over SIG,
600 In small contributions. Immediate
~ he announced constructive
loan Of 100000 which he IL pre-
aumably atill seeking to raise.
From these sources of income Mrs
Garvey has Financed his enterprises
and Carried on q vide and determined
propaganda, maintained large staff
oil salaried officials. clerks, and agents
and published q weekly newspaper
Not wlthstandfna this considerable
INCOME there Is no doubt that Car
Veyis expenditures are pressing hard
| on hfs income, and THAT his financial
methods are 80 essentially unsound
| that umass he speedily revises Thorn
tho investors will certainly got no di
yidea,ds and worse may happen. He 10
apparently using the Gomiliar method
OF "Ktting" -. O., the money which
comes In as tnvestm cnt In stock Is DO
INK used in current expenses, especial
ly in heavy overhead costs for clerk
hire. interest and display. Even his
boats arc being used for advertise
mont more than for misunderstanding
IN hnrbors MS exhibits. taking excur.
sfon parties. a.c. These methods have
demonstrated mortgages on property
and continually new and moro gran
diose schemes to collect larger and
larger amounts, OF ready cash. Mean
time. lacking business mon OF expert
ence. his actual huasncsG ventures
have brought IN few re<urna, qnvolv.
ell heavy expense and threatened him
CONTINUALLY with disaster or legal
| complication.
II this be true. II all the money he
receives is barely enough TO finance
this gigantic scheme. why should he
he criticised for calling for greater
| and moro numerous contribution
But DR.. Du Pois seems to he impressed
| with tho drastic nature OF his criti-
| clsm and he "damns his remarks with
faint praise" He says:
On the other hand, full credit must
be given Garvey for bold effort and
some success. He has at least pu.
vessels manned and owned by black
| men on the seas and they have carried
passengers and cargoes. The difficulty
| Is that he does not know the shipping
business. no does not understand the
! Investment of capital and he has few
, trained and stuunch assistants
This Is much put into nutshell"
How can Carney do other than learn
| by. failing or by risKing failure? II
no had to waiit until no understood
tho shipping business, Marcus Garycy
! and his followers would have been
IN Heaven or the otncr place and Dt.
Du Bois eyidcIltly believes that they
are going to tho 'o,hcr place." be-
foro the time would elapse In which
| they would learn the shipping bust.
| nesa. Coiortd men in this country
! did not know tho insurance business,
huI they learned by failing and they
now own and operate insurance con,
pantes all over the country. Colorcd
people did not know the dry-goods
, business. but they are selling dry
| goods and doing business in many
cities. Negroes did not know tho real
| estate business, but they are making
II success OF T. now IN well-nigh
every city OF any size In this coun.
try.
Negroes did not know anything
about the undertaking business, but
after making failures, they have
learned to embalm and some Of tho
, most palatial establishments In the
. Southland and Northland are owned
. by these same Negroes. Negroes did
not know anything about the bank
ing business, but the hundreds of
thousands OF dollars now being han.
died by these Negro institutions at.
test the fact that they learned by
failing and over the wreckage Of the
failures In Birmingham, Alabama,
Washington and Richmond, Va, they
have built up some of the most pros.
porous racial institutions in au of
this land.
NnpropS 6i6 NOT kpouy o,ytbin. =,