07: The Lasting Impact of the Freedman's Bank Collapse with Dr. Justene Hill Edwards

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07: The Lasting Impact of the Freedman's Bank Collapse with Dr. Justene Hill Edwards

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After the Civil War ended, as more and more formerly enslaved Black Americans began making money, they had nowhere to keep it - until the Freedman's Savings and Trust Company was established in 1865. At its peak, the bank had over 100,000 accounts and $50 million in deposits. However, the bank's white administrators and trustees soon began misusing the depositors' funds, leading to the bank's collapse just 9 years later.

In this episode, I sit down with Dr. Justene Hill Edwards, author of "Savings and Trust: The Rise and Betrayal of the Freedman's Bank." We discuss the history of this important financial institution, its impact on the Black community, and the lasting ramifications of its failure. Dr. Edwards provides fascinating insights into the economic lives of the enslaved and the financial knowledge they brought with them into freedom.

Connect with Dr. Justene Hill Edwards:
https://www.justenehilledwards.com/

Get the book: "Savings and Trust: The Rise and Betrayal of the Freedman's Bank"
https://wwnorton.com/books/9781324073857

Connect with Rachelle Chase:
https://www.rachellechasewrites.com/
https://rachellechase.substack.com/

Get full access to Reading with Rachelle at rachellechase.substack.com/subscribe

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