Save the Small Sums

With Good Reason · Mar 16, 2023 · 52m

In 1865, the Freedman’s Bank was written into law by President Lincoln to help newly freed enslaved people save money and buy land. But the bank collapsed less than 10 years after it was established - throwing many Black Americans into financial ruin. Justene Hill Edwards says the racial wealth gap can be traced back to the rise and fall of the Freedman’s Bank. And: During Jim Crow, literacy tests at the voting booth disenfranchised many African Americans. Mark Boonshoft says lawmakers passed these literacy tests at the same time that they denied African Americans the right to education…