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LIFE AND TIMES OF FREDERICK DOUGLASS 317

deposit their money in it. This representation to the finance committee sub-
jected me to very bitter opposition on the part of the officers of the bank. Its
actuary, Mr. Stickney, immediately summoned some of the trustees, a dozen
or so of them, to go before the finance committee and make a counter state-
ment to that made by me; and this they did. Some of them who had assisted
me by giving me facts showing the insolvency of the bank, now made haste
to contradict that conclusion and to assure the committee that it was abun-
dantly able to weather the financial storm, and pay dollar for dollar to its
depositors if allowed to go on.

I was not exactly thunderstruck, but I was much amazed by this contra-
diction. I, however, adhered to my statement that the bank ought to stop. The
finance committee substantially agreed with me, and in a few weeks so leg-
islated as to bring this imposing banking business to a close by appointing
three commissioners to take charge of its affairs.

This is a fair and unvarnished narration of my connection with the
Freedman's Savings and Trust Company, otherwise known as the Freedman's
Savings Bank, a connection which has brought upon my head an amount of
abuse and detraction greater than any encountered in any other part of my
life.

Before leaving the subject I ought in justice to myself to state that when
I found that the affairs of the bank were to be closed up, I did not, as I might
easily have done, and as others did, make myself a preferred creditor and
take my money out of the bank, but on the contrary. I determined to take my
chances with other depositors, and left my money, to the amount of two
thousand dollars, to be divided with the assets among the creditors of the
bank. And now, after seven years have been allowed for the value of the
securities to appreciate and the loss of interests on the deposits for that length
or time, the depositors may deem themselves fortunate if they receive sixty
cents on the dollar of what they placed in the care of this fine savings
institution.

It is also due to myself to state, especially since I have seen myself
accused of bringing the Freedman's Bank into ruin, and squandering in
senseless loans on bad security the hardly-earned moneys of my race, that all
the loans ever made by the bank were made prior to my connection with it
as its president. Not a dollar, not a dime of its millions were loaned by me,
or with my approval. The fact is, and all investigation shows it, that I was
married to a corpse. The fine building was there with its marble counters and
black walnut finishings, the affable and agile clerks, and the discreet and
comely colored cashier; but the LIFE, which was the money, was gone, and I

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