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Proceedings of the Colored National Labor convention : held in Washington, D.C., on December 6th, 7th, 8th, 9th and 10th, 1869.

1869-WASHGINGTON DC-Colored national Labor Convention 16.pdf

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16

Every man, woman, or child, who is able to deposit $5 in this Bank is a stock holder to that amount, and receives his or her share of the profits which may accrue from the successful management of its business.

Your committee have to report that the opposition among the white people of the South to the progress of these Banks is a disappearing; that the security and safety of the Bank is now thoroughly established: that it has purchased , in the city of Washington, a property directly opposite the United States Treasury, where it will build a convenient Banking-house in the coming year; that the best friends of the colored people are the friends and patrons of this Bank. Major General O. O. Howard calls it the "best educator in the field." Among the names of its trustees are found those of Henry D. Cooke, Esq., of the house of Jay Cooke & Co. ; Hon. J. M. Brodhead, of the United States Treasury ; Gen. B. W. Brice, Paymaster General U.S. Army ; Bishop S. Talbot, of the Methodist Episcopal Church, and others well known throughout the land.

But though the deposits have reached one-and-a-half millions of dollars, your committee think that such amount but poorly represents the savings of the colored people within reach of the influence of this company. There are within easy reach of its 25 Bank 300,000 laboring people of color. If each had only $10 in the Bank the aggregate would be three millions--more than double the sum now on deposit in them. Or, if out of three hundred thousand people referred to above, the same proportion were depositors as are found among the laboring people of Rhode Island, we would have 100,00 depositors and $50,000,000.

In conclusion, your committee would report the following resolutions:

Resolved, That, as an aid to the laboring man, affording a safe and profitable place of investment for his small savings, we commend the National Freedman's Savings Bank.

Resolved, That we are of the opinion that in all the principal cities of the South the colored people should unite in establishing Savings Banks, which we believe to be an incentive to economy, as well as a proper place for keeping its fruits.

William J. Wilson,
F.G. Barbadoes,
Abram Smith
J. M. Turner,
James Harris,
Committee.

The Committee on National Organ reported the following, which was adopted:

Whereas the necessity of a national journal, to be published in Washington, in the labor, educational, and political interests of the colored people of the country, is deeply felt by all classes of our people, and such an organ having been in contemplation, for some months by our leading men; and

Whereas the scheme now bids fair to be a success under the editorial charge and management of colored men and the paper, to be known as "The New Era," to be issued in a few days. Therefore be it

Resolved, That the "New Era" be, and is endorsed, by this convention as the organ of the laboring men of the country, recommended to our fellow citizens as the proper exponent of our sentiments.

Sella Martin
W.U. Saunders
Isaiah Weir,
G. P. Rourk,
F. G. Barbados.

J. M. Langston, from the Committee on Address, reported the following

ADDRESS.

The Relations of the Colored People to American Industry.

The laboring class of any community, educated and united, constitute its strength. And in so far forth as the leading men thereof realize and appreciate this consideration, they will be able to raise the masses of those identified with them in condition to rank and influence socially and legally.

Among the colored men of this country there is no small amount of industrial

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