Spreading Good News (Post 717 – BLACK HISTORY TUESDAY: The First African American-Owned U. S. Bank)

The goal of Spreading Good News is for readers to:

GET INSPIRED and/or GET MOTIVATED and/or GET INFORMED and/or GET AWE-STRUCK and/or GET A BREAK FROM ALL THE NEGATIVE NEWS and to tell readers about our good, short books and our online store.

CLICK THE “FOLLOW” BUTTON ABOVE TO RECEIVE AN E-MAIL ALERT FOR EACH NEW, DAILY POST!!

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CONSTANT QUOTE

 

 

IT’S BETTER TO DIE CHASING A DREAM NEVER CAUGHT THAN TO DIE NEVER HAVING CHASED THE DREAM.  ~ Joyce Fields

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FAKE BOOBS, FAKE BUTTS, FAKE HAIR, FAKE NAILS—BUT WOMEN WANT A REAL MAN!  ~ Joyce Fields

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Dear Bully:  A Collection of Poems about Bullying opens a child’s heart to the pain and horror of bullyingWritten from the perspectives of the bullied, the parent of the bullied, the sibling of the bully, and the bully him or herself.  For 5th graders and above.

Joyce is reading six poems from the book at  http://www.youtube.com/watch?v=-3sdKM-yl2M.  And please leave a comment!!

Order today for all the children you know and love. . .http://www.GoodShortBooks.com

 

THE ANTI-BULLYING PLEDGE

It’s FREE and available at http://www.GoodShortBooks.com!  A useful and very effective tool against bullying.

Gives kids something to live up to–their own pledge!

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ANNOUNCING A NEW BOOK!!  My Simple Quotes to Live By.  This book contains 169 original quotes on 90 pages. 

It’s available at http://www.amazon.com/Simple-Quotes-Live-Joyce-Fields/dp/1466318562/ref=sr_1_1?s=books&ie=UTF8&qid=1344234589&sr=1-1&keywords=my+simple+quotes+to+live+by

 

The “Constant Quote” (above) was chosen to appear in the 2013 Women’s Advantage Shared Wisdom Calendar that is available at http://www.womansadvantage.biz/prod_cat.php 

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TODAY’S BLOG

We all should know more about the contributions that African-Americans have made in the fields of science and medicine, as well as art, music, the written word, sports, and just-everyday life.

“Black History Month,” (February) is over, but I will continue Spreading Good News about Black History on what I will call “Black History Tuesday.”

I hope you enjoy this piece!

William W. Browne

BLACK HISTORY TUESDAY:  The First African American-Owned U. S. Bank

Source:  The Internet

The Savings Bank of the Grand Fountain United Order of True Reformers was the first bank owned by African Americans in the United States.  It was founded on March 2, 1888 by Reverend William Washington Browne and opened on April 3, 1889. Although the True Reformers Bank was the first black-owned bank chartered in the United States, the Capitol Savings Bank of Washington, D.C., was the first to actually open on October 17, 1888.

Born in 1849, Browne was a former Georgia slave who escaped and joined the Union Army in the North.  After the Civil War, he founded the Grand Fountain United Order of True Reformers, a black fraternal organization.  In 1887 when Browne visited Charlotte County, Virginia, to establish a local branch of the True Reformers, he encountered problems.  The branch arranged to keep its savings with a white shopkeeper in the county, but with racial tensions high after an 1887 lynching, the shopkeeper told other white residents that local blacks were organizing and raising funds, and the branch was forced to disband.  Browne decided the True Formers would have to found and run a bank itself so that its finances could not be monitored by whites.

The Savings Bank of the Grand Fountain United Order of True Reformers Bank opened a year after its founding, initially operating out of Browne’s home at 105 West Jackson Street in the Jackson Ward district of Richmond, Virginia.  The first day’s deposits totaled $1,269.28.  In 1891, the bank moved several blocks away to 604-608 North Second Street. The bank grew and survived the financial panic of 1893, during which it was the only bank in Richmond to maintain full operation, honoring all checks and paying out the full value of accounts.

Rev. Browne died in 1897, but the bank continued to thrive after his death, expanding into a number of other services, including a newspaper, a real estate agency, a retirement home, and a building and loan association.  New branches opened as far away as Kansas, and, by 1900, the bank was operating in 24 states, owning property valued at a total of $223,500.

After the turn of the century, the bank’s prospects began to falter under its new president, Reverend William Lee Taylor.  Distant branches were poorly regulated, and the strict rules the bank had required for its operations in its first years were allowed to grow lax.  Under Taylor, the bank made large, unsecured loans to finance lodge projects.  Those loans often defaulted.  When the bank’s cashier, R. T. Hill, was discovered to have embezzled $50,000 from the company, the resulting scandal brought down the bank, and most account holders lost their savings.

The bank examiner of the banking division of the State Corporation Commission ordered the closure of the bank on October 20, 1910.  True Reformers Bank was placed into receivership six days later.

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Share your comment about this post.

NOTE FROM JOYCEIf you enjoyed and/or learned from this blog, please leave a comment and send the link to others.  Thanks!!

If you’re interested in reading all about “My Breast Cancer Journey,” those posts start with post #334.

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~ Joyce Fields

 

ADDITIONAL OFFERINGS FROM JOYCE FIELDS

Joyce is an author who has written seven books.  If you enjoy this blog, you will, undoubtedly, enjoy all her books.  Her sister, Anita, is also an author.

BE INSPIRED!  You can read about and order their books AND order merchandise from their online store at this link (or click the “BE INSPIRED!” button above):

https://lineofserenity.wordpress.com/get-more-inspiration/

Thanks for your interest AND support!!

Contact Joyce at goodshortbooks@yahoo.com.

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SOME OF JOYCE’S FAVORITE BLOGS

I visit these blogs and leave comments regularly.  I think you will enjoy them all!

http://www.lenasledgeblog.com  Books, reviews, give-aways, interviews.

http://living4bliss.com  Believing Life Is Set up for Success (BLISS)

http://goss-coaching.com/author/gosscoaching  A professional writer and wellness coach helping people connect thoughts, feelings, beliefs, and action to create optimal health and a vibrant life.

http://www.thebirkineffect.com  Musings of a “want it all” 21st century woman.

http://www.thesweetsensations.com  A baking, entertainment, and lifestyle blog.  Fantastic recipes and food photography, too!

http://www.pennilessparenting.com  A rich life on minimum wage.  Plus fabulous, healthful recipes!

http://www.rumpydog.com  I’m a dog with a unique perspective on human life.

http://www.davidkanigan.com/  Lead.Learn.Live.  David Kanigan:  Inspiration, Ideas & Information.

http://callingoftheheart.wordpress.com  Spirituality, Psychology, and Political.

http://www.petedenton.wordpress.com  Writer of short stories, Flash fiction, and some scripts.

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About Line of Serenity (Joyce Fields)

As a thought leader for today's generation, I choose to be part of the solution and am doing things that positively impact people's lives. In addition to being a happy, married (since 1967!) woman, sister, aunt, mother, grandmother, great grandmother, I have over 40 years' experience in "Corporate America": Stenographer, Secretary, Supervisor, Analyst, Office Manager, Executive Assistant. I am also a professional proofreader and the author of eight books (seven non-fiction; one children's fiction--http://www.GoodShortBooks.com).
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2 Responses to Spreading Good News (Post 717 – BLACK HISTORY TUESDAY: The First African American-Owned U. S. Bank)

  1. Sandra says:

    This is an amazing piece of information. I am awed at the achievements made by African Americans so many years ago and marvel at the determination they had to have to do so.

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