American History Tellers cover image

Reconstruction Era | The Panic | 5

American History Tellers

CHAPTER

The Delay in Passing the Civil Rights Bill

In June 1874, the Freedmen's Savings Bank collapsed. Congress had chartered this bank in the final months of the Civil War to help freed people save and invest their wages. For thousands of black depositors, the impact of the collapse was devastating. All seven black congressmen spoke forcefully on behalf of passing the measure. But most House Republicans feared a backlash from white constituents who resented such a sweeping change to the social order.

00:00
Transcript
Play full episode

Remember Everything You Learn from Podcasts

Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
App store bannerPlay store banner