Book Breaks with Justene Hill Edwards on Savings and Trust: The Rise and Betrayal of the Freedman’s Bank

Date & Time:  November 17, 2024, 02:00 PM in Eastern Time (US and Canada)

 

book cover: Puerto Rico a National History

Shortly after the Civil War, tens of thousands of formerly enslaved people—veterans, sharecroppers, tradespeople, and small business owners—entrusted millions of dollars to the Freedman’s Bank. The bank’s northern board members pledged to make conservative investments, but just nine years later, account holders discovered that the institution was bankrupt. The board had funneled deposits into risky ventures benefiting their own friends, families, and political cronies. Historian Justene Hill Edwards illuminates a pivotal moment in economic history, one that discouraged generations of potential investors but also rallied Black banking entrepreneurs.

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