Film, Video Failure of the Freedman's Bank: Freedom, Finance and Security in 19th Century American Capitalism
About this Item
- Failure of the Freedman's Bank: Freedom, Finance and Security in 19th Century American Capitalism
- 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.
- Event Date
- May 26, 2010
- - Jonathan Levy is a Mellon Fellow.
- Related Resources
- John W. Kluge Center: http://www.loc.gov/loc/kluge/
- Running Time
- 1 hours, 6 minutes,
- Online Format
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Credit Line: Library of Congress
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Chicago citation style:
Failure of the Freedman's Bank: Freedom, Finance and Security in 19th Century American Capitalism. 2010. Video. https://www.loc.gov/item/webcast-4932/.
APA citation style:
(2010) Failure of the Freedman's Bank: Freedom, Finance and Security in 19th Century American Capitalism. [Video] Retrieved from the Library of Congress, https://www.loc.gov/item/webcast-4932/.
MLA citation style:
Failure of the Freedman's Bank: Freedom, Finance and Security in 19th Century American Capitalism. 2010. Video. Retrieved from the Library of Congress, <www.loc.gov/item/webcast-4932/>.