Thank you for joining us for todays events. Featuring doctors. This is your first time joining us, my i have the honor of serving as the dean of the school of business. 2020 marks a very special year for this school. Its our 100th anniversary were celebrating 100 years purpose driven business education. Since our inception, we believed in the power of partnership to inform and lead change. So very much would like to thank the cavalli center for Global Security analysis and her wonderful partners, the museum of American Finance and cfa society of new york. Is cosponsoring todays conversation. One of the goals of this centennial series is to shine the light on the important history place in shaping the future. In the latest book, thanking unfreedom, black woman in u. S. Finance and for the new deal, she explores rich. Of financial innovation and his Transformative Impact on u. S. Capitalism. Todays session will take place in three parts. First, my colleague and friend, david, president and ceo of the museum of American Finance will introduce doctor garrett scott. Then she will discuss her book thanking unfreedom, following this discussion david and i will facilitate audience questions. We ask that you type your questions in the q a section near the bottom of the zoom screen. I am also very excited to share that as a participant of todays webinar, you will be entered into a raffle to win a free ecopy of the book, thanking unfreedom. In the will be notified by the end of the week. And finally, before returning over to david, formal introduction, i do want to remind everyone that for this at school in the museum, they rely on your Financial Support to continue our mission. So i encourage you to take time to think about a donation to both of our outstanding organizations. Now i would like to turn it over to david. Thank you and its always great to be back with you and the friends that we have and of course all of us. In our speaker todays native texan received her phd at the university of texas, currently a professor at the university of mississippi. In her research and writing to bring to the floor issues of race gender and capitalism. The Research Behind his focus and credible. There are 400 are over 475 detailed footnotes. The book has received much praise including the organization of american historians, the association of black womens historians in the southern start association. In the best book in southern economic history. Also in the shortest for the highly prized for the best book in Business History in 2020. Now the friend of the museum and former speaker in this lecture series, george about this work, innovative, and beautifully written and deeply researched. Now the entire phrase, is the dedication which i really like reads to my wings, vincent. And given the social climate in the country today, this focus highly understanding about the deepseated issues of inclusion and participation but in the Free Enterprise capitalist system. It tells about banking on training and the amazing story is that about yourself, that she was not born with a silver spoon in her mouth. A rather hundred basket overhead. Here she is. Welcome. Thank you so much for the wonderful introduction. Shennette garrettscott. Thank you for inviting me and for everyone to make this possible. So im going to share my screen in the slides we will go ahead and get started. Sorry also appreciate people taking the timeout of their busy schedules to spend learning more about black womens contributions to the u. S. Finance. So today, i will talk for about 35 minutes rain and i will talk about the world of black finance in harlem before the 1929 stock market crash. I focus on one company. I use it to explore help elect women used Financial Institutions like the st. Louis financial corporation, institutions they lead and control of to challenge the constraints of jim crow, sexism and economic exploitations. They used companies to collect possibilities for themselves and he was economy and society. Understood that the motions and ideas about wealth and value risk, was shaped by gender and by race in place in the economic ladder. But they were not simply designed by these factors. In the processes. They took connective role in shaping the meaning of wealth and risk and opportunity. And molly acknowledge the limitations they faced because of the race and gender in the class, i also really want to demonstrate a black woman to find the real use in ways that often they would encounter the types of messages that they received about their worth as citizens and economic actors. Not just in the black communities but also in the order u. S. Economies. They have a good amount of time left for questions and answers. So i think the best way to really understand the finance corporations is through two women who were vitally important. Charity jones and Lindsay Robinson jones. Assuming the next slide, you will see two images. And i only have about three pictures total of those two women. These anonymous women was as images capture their spirits. So i will start by imagining their early lives in new york. I understand the kinds of challenges that black women faced. Then i will briefly describe the order and st. Lukes and how the ranch of your her formed this corporation and then i will talk about the challenges that they faced especially finance corporations part of which was comprised almost totally woman. So lets get started. Charity. Charity has a moment before she stepped onto the dusty dirt street. What am i doing here, she thought to herself. She was suspended in the place between her old life that lay behind her than this only place. The smell, the noise, the people. Oh the people. So any amazing and buzzing people like clydes rising from horse manure in the streets. This was 1885. Back in virginia. So charity drew and her breath and planted her feet on the unforgiving ground. She dared not look back at the tiny handprint, the babys breath missing and curling off of the streetcar window. Eight dead babies calling her back home. Lulu hesitated, a moment before she stepped onto the wooden floor, worn slick by hundreds of dancers, black men with black or burke cork faces figure stage life hound people pressed tightly together and the hardwood and theater seats. I found it like the sudden rush of wind whooshing and jostling leaves. Now this was harlem. 1916 and lulu pause for a momen moment. For the backstage goings on in the expectant audience just be on the thick velvet curtain. Shied the quiet place at center stage, a pocket she could pour her voice into. So lulu drew in her breath and planted her feet on the expectant floor. She stepped into the spotlight darkness swallowed up the side of the stage where she had stood only a moment ago. She dared not look back at the emptiness that holding onto silence. Though Charity Jones and Lulu Robinson jones with her daughterinlaw. Had very different experiences as Migrant Women who moved to new york city in the late 19th an early 20th century bird they shared some important things in common. They shared of course charitys only child, a son. But like hundreds of thousands of other black women, they also left the south to pursue better lives in the north. The chance to earn more money, to escape the humiliating social etiquette and the Sexual Violence of jim crow. To find excitement in the big cities of the north. So these two women also shared a devotion to the independent order of saint luke. This was a secret society that was founded in the 1850s by a free black woman for black wome women. In 1899 the independent order of st. Lukes came under the leadership of the ambitious Maggie Lena Walker. Its headquarters in richmond, saint luke would become one of the most successful black controlled and one of the very few largely black women controlled Financial Institutions in the country. In the peak in the mid 1920s the order ran a bank and an Insurance Company, operated a newspaper. It boasted 100,000 members and more than 20 states. It employed nearly 200 people the overwhelming majority of them women. And it possessed assets for theres equivalent to about 31 million in modernday dollars. No one important venture that brought the independent order of saint luke both renowned and scandal involved Charity Jones and Lulu Robinson jones. And that was the saint luke finance corporation. Headquartered in harlem and organized in the late 19 by the new York District of the independent order of st. Lukes. The saint luke finance corporation reflects the opportunities that open for women and u. S. Finance by the 1920s. There is a complex tapestry made up of thousands, thousands of black controlled Financial Institutions. These included formal banks and Insurance Companies as well as thrift savings clubs, industrial loan associations, Credit Unions and even finance corporations. This complex tapestry controlled millions of africanamericans in dollars. At expanded the values of their dreams. During the great migration, the first great gratian around world war i however the increase in the urban and northern black population had the capacity of these Financial Institutions. So revealed the tapestry is frayed and worn in places. And the boundaries of those fixed. So the strategies the saint luke finance corporation chose to promote reflected some of these anxieties about black womens bodies in these new urban space spaces. And there were these conflicting tensions that saw black women as both the victim, but also the sources of social disorder. And both in need of financial protection. But also new economic opportunities. So working women stretch like the independent order of st. Lukes. They desired better Career Options and housing choices. They rejected these efforts to police their behavior and the way they spend their leisure time. And these have eco new negro women were attracted to the promises of investment as a vehicle for inclusion for political rights. And a way to destroy and dismantle jim crow. They also grew really tired of these pictures that implied that men were the proper producers and consumers of these investment products. These markers of citizenship. The Financial Institutions that women lead and controlled experimented with innovative ways to raise capital. They also released record with experience with of course the intractable problem of racial and sexual discrimination. So my banking on freedom deals with the number of sorts of tensions. Here are going to focus on the rise and the fall of the saint luke finance corporation. So it is 1916 and the struggling new York District of st. Lukes which was headquartered in harlem had elected a new president. His name is dennis grice. The harlem st. Lukes had 3. 45 in its coffers. But was more than 400 in debt. Now grice may have been the formal hand at the wheel but an Ambition Group of women controlled. So in 1981, 21 members, most of them Women Incorporated the saint luke finance corporation. And they set their sights on investments in real estate. So women made up six of the Seven Members of the finance corporations board. I Lulu Robinson jones who is widowed by 1909 shared the advisory committee. So the revised harlem st. Lukes turned to Charity Jones to help them recruit new members. And Charity Jones solidified her status. She was known as the mother of saint luke in new york. And through her efforts, membership in the new York District sword in the mix of the great migration. Now it was not the joneses womens charm alone that fueled a resurgence in the harlem numbers. They are square focus their laser focus on addressing the need black women, lit the spark revived the order. The new negro woman like i said before tested and expanded the boundaries of these organizations. They were a model of black women hood. We have scholars a talk with the new negro women. They stress their cultural and political importance. But economic concerns really place high among their priorities. These women and their families desperately needed jobs and housing. And Robinson Jones understood this dilemma intimately i suspect. In the midtolate 19 teens, like many young black women she likely confronted limited Employment Opportunities as well as squalid Housing Conditions skyrocketing rent policing and overcrowding in segregated sections of the city. Roberson jones and the other women of the Advisory Board were able to borrow 3000 some Maggie Lena Walker in richmond, but the banks very cautious the finance committee was likely either unwilling to invest more in real estate schemes are unable to do so. In new York Real Estate even then required substantial capital. Those capital to mans we have to remember were compounded by the racial tariffs that made the cost of credit consideration higher for blacks and was for whites. This new and returning members as potential investors also understood the business of leisure in harlem she raised the Fundraising Affairs that combine entertainment as well as enterprise. She had a fundraising reception is the at the manhattan casino and had a very famous orchestra provided the music. They raised enough money to secure a mortgage on the building just a few years later about a Second Property a 24 room Apartment Building on west 129th street. It was called the casanova. Thats what they called it. In 19202 it remodeled its first acquisition that former convent on 130th. And transformed it into the saint luke hall. It became the new york st. Lukes district headquarters. In the harlem st. Lukes was the equivalent of more in a Million Dollars. So remodeled the saint luke hall on 130th. This hall accommodated everything, from pageant to Church Groups to International Delegations to union meetings. At a 19204 the order further added to his holdings by purchasing a third property. A combination Apartment Building restaurant and retail store on west 139th street which was not too far from stivers row. He st. Lukes three properties stood as the brick, granite and steel monuments to black economic progress. Located in the heart of harlem some black community the growing black community st. Lukes hall became an important center for business, for Community Activities and entertainment. And for vice. So the pastor of First Immanuel Church called out saint luke hall as the place was bootlegging and prostitution and cabarets belied it saintly name. On the pastor of Salem Methodist Episcopal Church and the adopted father of harlem poet counted columns called st. Lukes nothing less of the hellholes of god. It was very likely that tenants in the restaurants on the store and the Office Spaces in saint luke hall and the apartments held parties to help make ends meet. And they ran numbers game which wasnt extralegal but highly profitable lottery gambling game. I was also very popular. Success in the business of leisure and living it seems required a foot in both the formal and extralegal economy and 1916 the harlem st. Lukes broke. In 1918 they form the st. Lukes finance corporation. Within a few years that Corporation Makes them ambitious and lucrative real estate investments. So that by 19209, and a little more than a decade the new york st. Lukes went from being silly 400 in debt to having more than 5 million. That is a very conservative modernday dollars. Having 5 million in property. And so as the country slid towards economic decline by the end of the decade the boards failure to sell all of the corporations stock left it undercapitalized. Despite the fact it was generating more than 10,000 dollars in annual profits. Not equal too about 150,000 in modernday dollars. The race and renting the spaces in the hall, and the apartments in the building. The order used those revenue to provide jobs or admittedly a topheavy workforce of nearly two dozen employees. But also to fund its public commitment. Such as providing charitable assistance to 500 harlem families. So let me stressor for just a moment. Safe affordable quality housing of restaurant, retail spaces that offered fair prices in a variety of goods and services. Good paying stable jobs. Respectable and not so respectable amusement and leisure activity. These were really important priorities for black women in particular and black communities in general. These were the central, social, economic and i will add political concern that animated those women who were leading the saint luke finance corporation. So the district ended up raising the equivalent about one point to Million Dollars in modernday dollars from a bond offering. Now the incredible amount of money they were able to raise really highlight the democratization of investing among black communities. Limit said that another way. Its really demonstrating that your investing was popular and accessible for most africanamericans. And it also revealed a commitment to the working and middle classes. There commitment to selfhelp. And banking on freedom i highlight black peoples participation and investment and some get rich scheme that really made the 1920s roar. One point to Million Dollars, dollar loans and the Swanky Affairs cannot explain at least on their own the dramatic rise in the harlem st. Lukes origin. An amount that large might have creative financing. Im not going to go in detail here. I did delve into the creative financial schemes that the ladies of the finance Corporation Wave and impressive some impressive amount of time. The economic downturn coupled with past investigations into similar organizations like Marcus Garvey in the negro improvement associations finances left the creative scheme of all kinds of black fraternal and organization which included of course the independent order of saint luke vulnerable. Thats exactly what happened. And after just two hearings the court determine the order was insolvent and appointed a receiver in ordered the district to sell its Real Estate Holding holdings. So just as i imagined at the beginning of my talk out Charity Jones, this is an actual picture of Charity Jones and Lulu Robinson jones per the only picture i have of her might have felt moving to and through new york city they mustve felt when their beloved order lost its crown jewel. Charity jones mustve felt particularly at the losses. She lost her home. She lived in one of the Model Department to the st. Lukes hall. The First Property they purchased. From her well know she died in 19209 and she still resided at 127 west 130th street. But it was no longer glorious saint luke hall. In that fact had to be devastating. Lulu Robinson Jones told a census taker in 1930 that she is not working. She was unemployed. Its not clear how active she stayed in saint luke. Its very likely that she never again held such a powerful position in a multi milliondollar concern. So i hope as i close by illuminating this fascinating story about the rise and fall of the Saint Luke Bank in banking on freedom at which this story about the st. Lukes finance corporation as a part, i try to connect these major developments in u. S. History. Im talking about reconstruction, the gilded age. The great migration, world war i, the new negro era. Trying to recover the important and active role that black women play in the development of modern American Finance capitalism. I well acknowledge the contributions of black women made to modern capitalism i cannot ignore the exploited aspects of capitalism are the destructive ways that the political economy severely limited black women opportunities. So looking at the saint Luke Organization as a case study we see investment as a form of community and institution building. But also a protest and resistance that stand alongside other kinds of demands for Economic Justice like the labor strike or the boycott. So powerful ways, black women as creditors, debtors, consumers, as owners of stock and insurance policyholders, they really tried to transform racial capitalism through a women centered kind of articulation of black economic selfdetermination. But i have to mention markup the title. I hope you are familiar with the numbers game. I so popular in black communities in the late 19th centuries until the late 1970s. Basic version of playing the numbers involved placing a bet on this three number combination. So if you hit, if your number hit you could turn a tiny investment of a Little Pocket change into a couple hundred dollars. So a veritable industry is out of this popular numbers game. The objects in charge of the spiritual to help you predict your lucky number. This also these things called dream books. So say you have a dream about a dog. So you can look in the dream book and you can find a three number combination attached to that dog. It could be a yellow dog. The lookup yellow and find three numbers associated with yellow. You would try playing these to win. One dream books somebody 20s and 30s offered this explanation under people who dreamed about colored people. In the dream book says quote this is an excellent dream for all. It promises riches and extraordinary good health to those in business, great success. Two prisoners a speedy release. To farmers, good crops to the brokenhearted courage. So with the title dream Book Description about colored people. Because i imagine that the women of the st. Lukes finance corporation were dreaming of the African American community. And that they felt it was really the excellent dream for all. So thank you also much for your attention and for the time. Thank you again for inviting me. Host it is our pleasure. Thank you that was great. I cannot let you escape without talk about the woman who adorns the cover of your book. Maggie lena walker. Can you tell the audience or circumstances. She was born and raised in what she accomplished. Theres a place you want to learn more about hers their physical place you might want to visit . About whats going on this country should such a focal point of the book and so fascinating. Guest i was telling david, as historians we try to have objectivity with our subjects. But it is hard not to be so impressed with Maggie Lena Walker. Ninety lena walkers board enslaves right at the end of the civil war in richmond, virginia. She said herself that she grew up now the silver spoon in her mouth but with a washer back at up on her head. She grew up poor. Her circumstances in her life really i think shaped her visio vision. For black women in particular. And she was of course intimately involved independent order of st. Lukes. Came as a president in 1899. And she really transformed that organization. It was on its last leg in 1899 when she took over. And she communicated its vision. She wanted to open up a store and a factory. They were never able to open the factory. And in a bank. She succeeded in doing that and open the st. Lukes Penny Savings Bank and 1903 which was the first bank to be led by a black woman and to be largely financed by africanamerican women. And she was also very active politically, socially all around the country. And if you want to know more about her, other than in my book, there is a really great article that came out a few weeks ago the wall street journal that focuses on rising women in the present day in banking. And it harkens back to the story of Maggie Lena Walker. To understand this phenomenon of women in banking. And if you are ever in richmond, at her house she has a beautiful manchin that she owned in richmond. The National Park service, you can also go online and you can do a virtual tour, there are many images of objects in the house and also of her and the various businesses and black life in richmond. And finally i think that Maggie Lena Walker would have a lot to say about the events that are going on today. In the midst of covid she would have a lot to say about kind of revising the kind of work she did with the Saint Luke Bank as well as independent order of st. Lukes Insurance Company. She always talked about a black womans way of banking. I think we could learn a lot about banking that is attuned to the practical need of the community that it served. That it centered them. I think in the pandemic for example she would argue about using sound and conservative lending criteria. But kinda be racing some of the structural institutional inequalities that are inherent in things like credit scores. So to look at multiple other kinds of sources to vet peoples credit worthiness. Two small investment especially in black business. But we think of is micro finance today. Those are the kinds of things if she were here today she would look around. And i think should be ready to kind of pull on her shoulders and really put her shoulder into kind of a transforming shrinking racial wealth gap bird which is what she tried to do in 1903 thats definitely should be trying to do in 2020. Thanks so much such a great that had real meeting today. Its really incredible. We have a question from professor george rob. Hes asking if you know any st. Lukes counsel in northern cities tried to organize similar financial experiments . Guest yes, i do. I know that in philadelphia and some of the largest work harlem, philadelphia and d. C. , washington d. C. And i know that in washington d. C. They actually tried to do something very similar. They try to build a saint luke hall. And richland was the model for creating a corporation that could raise the funds needed to invest in these real estate ventures. And they tried to do that in d. C. Im sure its an interesting story that failed, definitely in philadelphia and in d. C. I will also say, just in rural areas as well. Particularly in the south. Im not as familiar with the north that even on a small scale you had women raise thousands of dollars to build small brick or wood buildings that they called their st. Lukes headquarters some places i think theres one in lynchburg virginia some other small towns especially throughout virginia for africanamerican women were able to do this also on a smaller scale. Are next question comes from professor. [inaudible] he wants to know why do these banks and institutions disappea disappear . And how many if any are still around . Guest before it the 1930s there were over 100 africanamerican banks had been formed between 1888 in the very first one was chartered in richmond which was kind of known as the cradle of black capitalism. But even on the eve of the Great Depression part of the reason they disappeared had to do with many factors. Many of them can be attributed to structural racism. Banks were often limited, there were limited in where they could operate. They could of course focused largely on African Americans who tended to make less money. And they had difficulty accessing credit. Also the banking knowledge that other banks were able to get. I do want to say even those these were crippling very difficult trying circumstances under which you try to make a banking venture go, africanamericans did innovate in ways to try to overcome those barriers. Theres the National Negro Bankers Association that was first formed in 1907. Revived in 1920s. There people who had some Banking Experience throughout the country to try to share what knowledge they had with these banks. But often these banks were targeted by new banking regulations so on one hand they seem very neutral but they were really used often by the state to really wipe the symbols of black progress off the map. And then like other banks, other Financial Institutions, they simply could not whether. Most of them could not whether the storm of the Great Depression. And hobbling through and out of the Great Depression and with that a dozen banks. Again there was a revival especially around world war i. And you could see the number of black banks. The number of black banks changes all the time. There is a movement of sorts called bank black which is encourages all people to invest, to deposit 100 in a black banking order to build them up. There is that Bank Blackberry theres also a website, i can look it up i think it is a bank black usa. Org. Black banks you can search for the buyer area code for the part of the country you are in. It includes both online and brick and mortar banks. We do have a handful of banks are more than 100 years old that are still in existence today. Sue and really excellent wonderful i have a comment and caitlyn rose kennedy. Shes indicated shes a huge fan of your writing and lecturing skills. And the question is about the ideas of racial uplift. And if they tied into the running of st. Lukes november bar certain groups considered to be unfit representation of the race for the poor, unwed black women. Didnt bar them from participating in finance capitalism . Guest i love and appreciate her to. Shes when my best students. Definitely respectability politics played a role in black finance and in black capitalism. But not necessarily in restricting people who might have been considered an respectable parade some participating in these kind of financial uplift activities. In fact, Maggie Lena Walker herself was a product of rape. I could argue that. And she of course was surrounded by communities of women who have been subjected to racial Sexual Violence. So being in on wed mother for example was not necessarily something that would cast you out of the realm of respectability. And also Maggie Lena Walker was committed to seek financial independence, Economic Literacy and a path forward. Because these women had to take care of families. It was also important rolls in the community in terms of philanthropy in their work in churches and activism. So she saw lending, she tried to make lending a respectable activity for these women as a way to kind of lift themselves out of their poverty. I do have to say is the way she ran the bank and the Insurance Company there was a point where she was a little oldfashioned traits of the younger women who were able to take advantage, this Younger Group of women were able to take advantage of the opportunity. That first generation out of slavery women like Maggie Lena Walker and her circle of women were able to provide this Younger Generation of women with some of the restrictions. They did not want to have a prayer devotional lift they wanted to wear more colorful clothes, the latest fashions. They wanted to go to movies and listen to jazz music. And so there is a kind of politics of respectability which i think generationally about what this older generation of africanamerican women who were trying to provide these opportunities for the Younger Generation. And the Younger Generation of women who are taking advantage of those opportunities but are wanting to do things their own way. I just want to ask the next question on amplify from a couple questions ago. He write extensively from these state Bank Examiners and how horrible they were to these banks. I think is a carolina case where they are bragging about how they can go about and shut these banks down. So its actually awful. Our next question, laura thanks you as well. She wants and of the extent to which white and black men or white and black women support or invest in st. Lukes . Guest its hard to tell. But definitely Maggie Lena Walker was really skilled and building interracial coalitions. It was something she knew that she needed help with from the White Community of richmond to accomplish her vision and her goals. And so in terms of investments, there probably werent, just like in the freemans bank. There were probably some whites who did have a small accounts in the bank. Or perhaps it may have bought stock in the bank in order to show they were progressive and supportive of these kinds of efforts for black progress. But black banks, not just st st. Lukes but these financial organizations in particular, Insurance Companies and black banks really tried to make a point that these were largely black controlled efforts at uplifting the community. They really made appeals to race pride. Some of them talked about and really stressed that they were able to accomplish the things they were able to accomplish without whites assistance. Or use of their services. So it is a complex question. On the one hand you have whites probably as a show of support did participate minimally an actual investment in these organizations. But africanamericans at the same time were really stressing that they didnt really need or require whites participation to really showcase organizations for progress. I also want to say to that Economic Growth and business is an area where you could get buyin from a broad swath, from radicals to moderate. There are people who could be staunchly segregationist, who could support the idea of a separate black economy. And then you could have more liberal or moderate people who could also support a black separate economy. So again, the idea about race and whites participation and the conception of the place of black business and black economy on the one hand they can have some progressive ideas. They can also some really regressive ideas as well. We have a question from lisha doctor and preach shes asking how we build black wealth today . What lessons can we learn from all of those women and harlem that could help us today. How to build wealth today . I probably sits that these not as popular but i think reparation give serious consideration. Im hoping hr 40 will finally be debated and dealt with in congress. That is to create a commission and even beyond slavery. Thats one step forward in terms of closing the wealth gap and Building Wealth today. And again about Maggie Lena Walker i think really embracing some parts of her vision to again build wealth to try to look at Community Concerns raising large sums of money. But by censuring the deed of the community that are articulated by the community. This is not for example, gentrification. But actually listening to the voices of people in communities and different spaces, and different industries. And asking what do you need . And then asking programs and tools to help them meet those needs. At the same time also really chipping away, not chipping away but working to dismantle the kinds of barriers that have stood in their place. So here i will mention for example about lending. In a some people may say well these communities theres value in those communities they are just not staying there declining or falling. But that is not an accident. So those banking and Financial Institutions in particular those organizations including realtors and appraisers. Those groups that hope to create the situation move in and admit their complicity in creating these kinds of pockets and places where the really stark inequalities exist. And then we can have an honest conversation of admitting complicity in that, and talk about how can we now dismantle some of the practices and narratives that we have had about particular places and these ideas again about wealth and risk and opportunity. And redirect the conversation. Earlier you mentioned the freemans bank the attempt after the civil war. Im wondering if you talk a little bit about that. You have a chapter about a familys 46 years origin to try to get compensation. I dont think people know about the freemans bank. I want if you would please educate us a little bit about. Believe it or not, my school is doing a test you are the silently backward ill be sure to talk up a little bit louder. So the freemans bank was created after the civil war immediately after the civil war in 1865. And it lasted for nearly a decade to74. It was a bank that was formed for the formerly enslaved. That was in the charter. And it was one of the banks that was formed by the federal government. So we have the first bank of the United States, the second bank of the United States and the freemans bank. As a board of allWhite Trustees because i did not trust africanamericans also kind of know how to direct their financial futures. And theres kind of a change in the bank that allowed it to be admins resources of a milliondollar circulated in this bank in terms of modernday dollars in the mere decade that it operated. And through that corruption of the White Trustees other people connected to the bank the koch brothers, financiers in new yor york, at led to the demise of the bank. Africanamericans lost millions of dollars of their deposits. That is the common story pretty once in my book i really try to look at how African Americans use the bank especially black women. How they kind of subverted some of the plans and visions that limited Economic Vision of these White Trustees to bend the bank to meet their needs. And then i also point out two things. Two parts about the freemans bank. Black women, black people never abandon their own Economic Network that they had forged through slavery and after. They just put the freemans bank within that network. The second thing even though the failure of the bank was devastating, not just devastating to black wealth, but also just devastating for people to lose as a symbol of progress and citizenship and opportunity and freedom for them to lose that bank. It convinced them that they needed to control their own financial institution. And so the kind of bittersweet or upside if there is one of the closing of the freemans bank as i think it really just started the black Banking Movement with the First Charter Bank in 1888. So we have one final question that we have time for. It is by Nancy Wheeler and i love the question. She thanks you and thanks you for elevating the early black women in finance. And we all want to know, other than handing out copies of your book on the corner, how else can we educate more people about these amazing women . Guest there is the National Parks service has a wonderful video that is shown in the museum that you can access on youtube so you can learn more about it. I also think the pbs documentary boss the black experience in business is a start. It is two hours long i am in that documentary. I just tell you i talked for three hours. There is so much on the cutting room floor but a hoping the producer could be a series. But to really give a quick primer into a history of African American business, that documentary is the in business you can stream in pds its important as well. And then of course theres also so many other books. I will be sure to send a link. I am a part of the Business History conference which is an international Business History organization. They actually have created this incredible list that highlights minority business. And so includes a lot of work about africanamerican businesses that ive contributed there. There are all kinds of books and articles that you can find there as well. Ill be sure to send that link. Thanks so much. On behalf of all of us at the museum of cfa, cavalli, thank you so much. We had a terrific one hour with you. So informative. And we know were going to hear a lot more from you and your career, very exciting thank you. Thank you. Book tv on cspan2 has top books and authors every weekend. Saturday at 1 00 p. M. Eastern from a recent virtual southern festival of books, authors sara, Thomas Burton and Wayne Winkler reflect on life in appalachia. David pilgrim discussed the jim crow era in the south. And at 7 45 p. M. New yorker staff writer discusses his book joe biden the life, the run and what matters now. On sunday, at 1 00 p. M. Eastern from the southern festival of books, journalist math event meter talks about his book deep delta justice. About a civil rights case it helps to reaffirm the right too a trial by jury in most criminal cases. And author Stephanie Gorton and chris hamby offer their thoughts on Investigative Journalism and its role in a democracy. Then at 9 00 p. M. Eastern on after words, while Professor John fabian webb talks about his book american contagions. Epidemics in the law from smallpox to covid 19. He is interviewed by Georgetown University law professor. Watch book tv this weekend on cspan2. Sunday night on q a university of texas at austin sociology professor sara brain talks about the use of big data and new Surveillance Technology by law enforcement. As youve said the police have long been collect in their own data and information. That some people they have contact with. And what is happening now in the digital age is the police are increasingly collecting information on all of these folks who have no direct criminal justice contacts. Im part of that has to do with the variety component of big data. They are increasingly purchasing information from privately collected companies. Using tools like automatic license plate readers we dont have to get pulled over by the police in order for your data to be put into their system for example. That kind of information is also being used respects their brain sunday night at eight eastern on cspans q and a. You are watching book tv on cspan2. Every weekend with the latest nonfiction books and authors. Cspan2, created by americas Cable Television company as a public service. And brought to you today by your television provider. Representative rick larson representative from washington joined book tv to discuss the books he is reading
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