National savings bank. [online resource], June 01, 1868, Image 1

About National savings bank. [online resource] ([Washington, D.C.) 1868-18??

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Vol. I.
PUBLISHED SIMULTANEOUSLY AT
Augusta, Georgia, Newbern, North Carolina,
Baltimore, Maryland. New Orleans, Louisiana,
Beaufort, South Carolina, New York City,
Charleston, South Carolina, Norfolk, Virginia,
Huntsville. Alabama. Richmond, Virginia,
Jacksonville, Florida. Savannah, Georgia,
Louisville, Kentucky, Tallahassee, Florida,
Memphis. Tennessee. Vicksburg, Mississippi.
Mobile, Alabama, Washington, D. C.,
Nashville, Tennessee, Wilmington, N. C.
ITEMS OF INTEREST J
From the Branches of the Freedman's Fac
ings and Trad Company- >
AUGUSTA, GA.
We learn from this branch that many of
the colored people are losing their situa*
tions on account of the way they saw fit to
vote at the recent election. Great rains
are prevailing there, to the damage of the
crops. Yet we know the promise to the
industrious and the sober man never fails,
and in due time he will reap if he faint not.
We trust that at Augusta, as well as every
where else in our broad land, the day will'
soon come when no man will be persecuted
for opinion's sake. AY 7 e advise the workers
to go on; save their dimes and coppers:
buy themselves garden patches if they can
net buy acres and fortune, i, e, God will
favor the brave. Let every man strive to
become the owner of land—ever so small a
tract even.
BALTIMORE.
The branch of this Bank at this city is at
No. 7 S. Gay street, and is under the direc
tion of Mr. S. Townsend, as cashier. It
has the entire confidence of all people who
take the pains to learn anything about it.
The amount of deposits there is $00,700.
BEAUFORT.
This branch, among the Sea Islands, is
well known to the laboring people of all
that region as a place of safe deposit. The
crops are believed to promise very well
there, and it is confidently expected that
the coming harvest will give every man
some money to put by for a dark day. Mr.
Scovel, the cashier there, is always at his
post. He is careful in guarding the inter
ests of the colored people against those who
are wiser but no honester than they. We
commend our patrons to him.
CHARLESTON.
Owing to depositors at this branch
drawing their money temporarily for
farming and trading purposes, the amount
of deposits here has fallen off in the
last month, but it . still has no less than
$58,465 00 to the credit of its customers.
Considering that the branch has been in
operation but a short time under the direc
tion of our cashier, Mr. N. Hitter, this
sum is highly creditable to the colored
people. We call upon them to strive and
keep good their balance, and show a steady
gain of deposits each month.
JACKSONVILLE.
The Bank in this beautiful southern
city is now in charge of Rev. W. L.
Coan, so well known in connection with
his labors through the South in the
Iraet Society’s employ. He enjoys the
confidence of all who know him, and will
build up our branch there. The Bank
office has recently been changed to the cor
ner of Bay and’Ocean streets, and refitted
“How doth the little busy bee
Improve each shining hour,
and furnished in a plain but becoming
style, under the direction of our general
inspector, Mr. S. L. Harris. It is expected
that a large amount of deposits will find
their way during the coming summer to
this branch.
LOUISVILLE.
The branch of our Bank in this splen
j did city has done a great work for the
; colored people, but yet it has not half
: covered the ground open to it. An
j esting report as to the moral condition of
| the colored people in that city has been
j prepared and forwarded to the principal
‘ office, in AV r ashington, by Mr. Joshua Tevis,
j a colored man of Louisville. A few extracts
from that report will show the status now,
and afford ground for some comparisons.
It appears that there are there twelve
schools for colored children ; the number
of children enrolled on the school lists in
these schools, 1,515, and the average attend
ance 1,090.
There are ten churches in Louisville for
colored people; the number of church
members in them 4,230, and the number
attending, as church and congregation,
G,310. We may state that at the com
mencement of the rebellion there were put
"throe suclTscTiools in that city, with an at
tendance of two hundred and fifty. Much
of this great increase is due to the energy
and kind care of General 0. O. Howard,
who has directed the influences of the Gov
ernment into these beneficent channels.
About thirty per cent, of the population of
which we speak, are readers, and about six
per cent, are already able to write. As a
general thing these people are industrious.
It is true that some idle persons hang about
the city, but the cause of it to a great ex
tent is, that bands of regulators in the
country districts have spread a system of
terrorism, which prevents men who would
otherwise gladly become farm laborers from
going out to work beyond the reach of the
city patrol, who would protect them.
The estimated wealth of the colored pop
ulation of Louisville is $500,000. There
arc 75 painters, 50 carpenters, 25 brick
masons, 20 wagon makers, 45 blacksmiths,
20 plasterers, and 15 shoemakers pursuing
their avocations here. The average daily
wages for laborers, mechanics, etc., $1 62
per day, and the average cost of living
about $1 25.
The above facts were ascertained by a
careful canvass of the city, and, we think,
show a fair average condition of* the col
ored people, highly creditable to them. We
add, they have on deposit at their own
Bank there $5G,715 15. Can’t they double
it in a year ?
MEMPHIS.
This branch, under the care of Mr. A. M.
Sperry, cashier, is rapidly advancing in
prosperity. The colored man’s bank there
is known to be perfectly safe. It promises
no great amount of interest or dividend,
but it is sure pay. We trust the colored
people will sec where their true interest
lies, and put by their small earnings every
day. Each Saturday night let them put in
the bank all they have been able to save
during the week—be it more or less, and
they will be surprised soon, at the way it
will accumulate.
WASHINGTON, D. C., JUNE 1, 1868.
“ And gather honey all the day
From every opening flower.
NASnVIU.E.
The cashier, Mr. J. J. Cary, of this branch
writes: One serious drawback tothe people
in manyhjealitiesistliclackof schools. With
reference to the crops, 'the accounts are
favorably, vegetation has, however, been
retarded by severe frosts in the month of
April. The promise, however, on the whole
is for a fair crop. The demand for labor
is not so great as it has been for several
back seasons. Laborers on farms arc
getting 10 and 12 dollars per month and
found.
The deposits of cash at this branch in our
Bank are $35,581,80.
The following is from the Nashville Press
and Til**® :
“ Interesting Meeting. —On Mouday
night a large and interesting meeting was
held at St. Paul’s colored church, on Cher
ry street, in South Nashville. The occa
sion was not one of politics, but was for the
inculcating into the minds of the colored
people the great importance of economy and
money saving. I). W. Peabody and Judge
Lawrence delivered short addresses, urg
ing upon their hearers the propriety of
making homes for themselves and acquiring
property. Several other speeches were
made, anu the colored people appeared to
be deeplv interested in the theme of the oc
casion.” >
r- fcn > *
NEW ORLEANS.
The local Advisory Committee of our
branch at New Orleans has been remod
eled, and such modifications made as will
increase the patronage of this excellent
institution. Kev. Dr. Newman is chair
man of the committee; C. S. Sauvinet,
cashier, is secretary, and with them are
associated such gentlemen as Messrs.
Waples, Crane, Bowie, Turner, Banks,
Pemberton, etc. And we now invite the
attention of our friends to the advantages
of such a bank, where they may deposit
their savings and receive a fair interest
thereon. If you have a spare dollar put it
in the bank, and this will not only increase,
but will incline you to put another there.
NEW BERN, N. C.
We clip the following from the Newbern
Republican :
“Freedman’s Savings and Trust Com
pany.—We learn from Mr. C. A. Nelson,
cashier, that the Newbern branch of this
company is in a very nourishing condition.
Notwithstanding the dull scarcity
of money the deposits for the last two
months—March and Apr H—amounted to
$11,976 05, while the drafts for the same
period amounted to $10,197 51, showing a
net gain of $1,778 54 since March 1. At
this season of the year the drafts are unu
sually heavy, owing to many depositors in
vesting in land, and buying stock, imple
ments, seeds, and provisions for carrying
on their farms. The amount due deposit
ors at (his branch, May 1, was $15,663 62.
This is irrefutable evidence of the colored
man’s ability and intention not only to
take care of himself, but also to provide
for the necessities of the future.”
RICHMOND.
The Despatch of a recent date says the
branch of the National Freedman’s Savings
and Trust Company in this city seems to be
in a prosperous condition. The last re]
port shows the amount of deposits to be
$1,941 85; drafts, $9Bl 21; amount due
depositors, $14,407 4G.
RALEIGH.
We have the pleasure of announcing that
a very promising branch of our Bank has
just gone into successful operation in the
capital of the good old State of North Caro
lina. with Mr. U. W. Brodie as Cashier.
Gov. Holden and other of the best citizens
and most prominent men of the State, and
Col. Dewees, member of Congress elect,
have used their influence in establishing it,
and are still lending their aid,in its behalf.
SAVANNAH.
Our Cashier, Rev. I. W. Brinckerhoff,
writes as regards- the future of the colored
people here, the elements of success are ap
parent.
Their Industry.
The rapid increase of depositors and de
posits in this branch of the Freedman’s
Savings and Trust Company show that they
realize increasingly that industry, econ
omy, and the safe-keeping of their smallest
savings, are essential to their prosperity
and influence as a people. As the over
flowing cisterns indicate the quantity of
rain drops that were gathered in the clouds,
so the Savings Bank, W%ll patronized, un
mistakably shows the quantity of “mint
.drops" and "re°nbacks gathered by an in
dustnous people. Nothing demonstrates
industry and economy more clearly than the
Savings Bank.
Their Intelligence
lie is an intelligent man, comparatively,
who knows that he is ignorant. And he
will surely become fully intelligent who
feels so much the need of knowledge as to
strive to obtain it.
The school for the colored people here is
one of the finest school buildings in the
State. It is called “ Beacii Institute,” in
honor of Alfred E. Beach, Esq., editor of the
Scientific American , New York city, who
purchased and donated the ground upon
which the building stands. It was erected
by the Freedmens’ Bureau at a cost of
about fifteen thousand dollars. The Amer
ican Home Missionary Association have
erected on the same lota pleasant and com
fortable home for the teachers, which cost
three thousand dollars. There are eleven
teachers. The scholars in the day and
night schools number nine hundred and
twenty-one, all of whom pay a moderate
tuition fee. About three hundred and fifty
of these scholars also attend the Sabbath
school connected with the institute. There
are also several private schools kept by
colored persons, which are well attended.
Attention to Religion.
They have five churches in the city
Their church property, free of debt, is in
value £35,000; besides’ defraying all other
expenses they pay to their pastors over $4,-
000 in salaries. The total city membership
of these churches is between four and five
thousand. Four of the churches have
flourishing Sabbath Schools, containing
1,000 scholars in all.
Surely there is hope fur a people of whose
total population nearly one-half are church
members, more than one-tenth attend both
secular and Sabbath schools, and over six
hundred have in the Saving Bank an aver
age deposit of sixty dollars each, with the
number of depositors increasing rapidly.
No. 6.