Citation

Was the Freedman's Bank really for the Ex-Slaves?

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Abstract:

Enslavement means that in addition to not having free choice, it means that those enslaved have no assets and no direct connection to the economy. It follows that upon release from slavery, the "freed" people have no wealth or experience in a monetized economy. Further freed people had to integrate into the nascent U.S. capitalist economy. Both are complex requirements that must be accomplished in order to fold the fragile population into the political economy of the nation. So why was the Freedmen's Bank established in the Reconstruction era? The literature posits that mismanagement caused the bankruptcy of the bank. I posit that the bank was not the correct economic instrument in the first place. Then I propose feasible financial arrangements. This is important because as new ethnic groups are folded into the international economy, different financial instruments should be considered as opposed to the International Monetary Fund or World Bank.
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Association:
Name: 95th Annual Convention
URL:
http://www.asalh.org


Citation:
URL: http://citation.allacademic.com/meta/p436002_index.html
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MLA Citation:

Bandele, Ramla. "Was the Freedman's Bank really for the Ex-Slaves?" Paper presented at the annual meeting of the 95th Annual Convention, Raleigh Convention Center, Raleigh, North Carolina, Sep 29, 2010 <Not Available>. 2014-11-27 <http://citation.allacademic.com/meta/p436002_index.html>

APA Citation:

Bandele, R. , 2010-09-29 "Was the Freedman's Bank really for the Ex-Slaves?" Paper presented at the annual meeting of the 95th Annual Convention, Raleigh Convention Center, Raleigh, North Carolina <Not Available>. 2014-11-27 from http://citation.allacademic.com/meta/p436002_index.html

Publication Type: Individual Paper
Review Method: Peer Reviewed
Abstract: Enslavement means that in addition to not having free choice, it means that those enslaved have no assets and no direct connection to the economy. It follows that upon release from slavery, the "freed" people have no wealth or experience in a monetized economy. Further freed people had to integrate into the nascent U.S. capitalist economy. Both are complex requirements that must be accomplished in order to fold the fragile population into the political economy of the nation. So why was the Freedmen's Bank established in the Reconstruction era? The literature posits that mismanagement caused the bankruptcy of the bank. I posit that the bank was not the correct economic instrument in the first place. Then I propose feasible financial arrangements. This is important because as new ethnic groups are folded into the international economy, different financial instruments should be considered as opposed to the International Monetary Fund or World Bank.


Similar Titles:
Performance and the Oral History of Slavery: The WPA "Ex-Slave Narratives" of the Interwar Years

Emancipation Without Compensation: From Federal Land Allocation Efforts to Petitioning for Ex-Slave Pensions

"Fugitive Slaves as Contraband and Freedman in the Union Army and Their Accomplishments"

“Mammy Fought Back-” Scenes of Subjugation, Resistance and Gender in the WPA Ex-Slave Narratives


 
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