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Freedman's Bank Failure
- In July 1874, Black Americans rushed to Freedman's Bank branches only to find locked doors.
- Their savings were gone due to the bank's abrupt closure.
Financial Acumen of the Enslaved
- John Alvord, the bank's founder, underestimated Black Americans' financial literacy.
- Despite lacking formal banking experience, they understood money through their experiences during slavery.
Importance of Land Ownership
- Land ownership was paramount for newly freed Black Americans.
- It symbolized true freedom and power after being considered property themselves.