john w alfred out where a special order 15 left off. there had already been some prior financial institutions established by union troops because we had the u.s. colored troops to they made wages but many of them had no institutions. so john w alfred met with people in new york and explained it and they thought it was a worthy cause. boots of some of the officers in the union troops and established it on a larger basis -- very to the ideas of some of the best -- they took some of the ideas of the officers in the union troops and established it on a larger basis. unfortunately it eventually failed. it was established on secure principles. deposits were invested in security government bonds. but in 1870, the original charter signed by congress was changed and that opened the door to speculation, loans, and so forth. and along with the recession of 1873 it led to the collapse of the bank. this collapse was devastating to the african-americans, the recently freed population that was investing all of their money into the back. hope was that

john w alfred out where a special order 15 left off. there had already been some prior financial institutions established by union troops because we had the u.s. colored troops to they made wages but many of them had no institutions. in which they could deposit or save their money. so john w alfred met with people in new york and explained it and they thought it was a worthy cause. the freeman's bank took some of the ideas of some of the officers in the union troops and established it on a larger basis -- very to the ideas of some of the best -- they took some of the ideas of the officers in the union troops and established it on a larger basis. unfortunately it eventually failed. it was established on secure principles. deposits were invested in security government bonds. but in 1870, the original charter signed by congress was changed and that opened the door to speculation, loans, and so forth. and along with the recession of 1873 it led to the collapse of the bank. this collapse was devastating to the african-americans, the recently