Film, Video Failure of the Freedman's Bank: Freedom, Finance and Security in 19th Century American Capitalism
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About this Item
Title
- Failure of the Freedman's Bank: Freedom, Finance and Security in 19th Century American Capitalism
Summary
- In 1865, Congress chartered the non-profit "Freedman's Savings and Trust Company," a savings bank designed for a population of four million newly emancipated American slaves. By 1873, it had received a staggering $50,000,000 in deposits. But the banking house Jay Cooke & Co. was charged with investing the freedpeople's savings, and when Jay Cooke & Co. failed during the panic of 1873, so did the Freedman's Bank. Liberated from their former masters, the freedpeople had very suddenly come face to face with the frenzied finance of the Gilded Age.
Names
- Library of Congress
- John W. Kluge Center (Library of Congress), sponsoring body
Created / Published
- Washington, D.C. : Library of Congress, 2010-05-26.
Headings
- - African American History
- - Biography, History
Notes
- - Classification: History: America.
- - Jonathan Levy.
- - Recorded on 2010-05-26.
- - Kids, Families.
- - Researchers.
Medium
- 1 online resource
Digital Id
Library of Congress Control Number
- 2021688477
Online Format
- video
- image