1890 Photo-Freedman's Savings Bank-Chartered-Encourage African-Americans-11x14

Description

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TITLE:
1890 Photo-Freedman's Savings Bank-Chartered to Encourage African-Americans
DESCRIPTION:
The former Freedman's Savings Bank on Pennsylvania Avenue NW in Washington, D.C. The site is now occupied by the Treasury Annex.  Date 1890     The Freedman's Saving and Trust Company, popularly known as the Freedman's Savings Bank, was a private corporation chartered by the U.S. government to encourage and guide the economic development of the newly emancipated African-American communities in the post-Civil War period. Although functioning only between 1865 and 1874, the company achieved notable successes as a leading financial institution of African-Americans. However, its failure was devastating to the newly emancipated black community. Its archives are valuable as an exhaustive collection of information regarding the African American community and its socio-economic life in the immediate aftermath of emancipation.
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