The one essential of modern life which the Colored American has not
attained to perfection, is the proposition of economy. Not saving, but
business qualifications. But he is an apt pupil and is rapidly acquiring
experience.
The reports of 1912 give the value of property owned by the Colored
people in the United States as =six hundred millions of dollars=. And
upon this they pay taxes.
A year ago, The National Negro Business League held its eleventh annual
session at Little Rock, Arkansas, with every State represented by
delegates.
The wide range of Negro business activities discussed at that annual
meeting, shows a vast stride toward improved commercial conditions, and
an adaptability to the opportunities presented. Some of these activities
were: Raising and shipping fruits and poultry; pickles and preserve
manufactories; horticulture: grain, hay, and fuel; cotton raising;
dealers in fresh and salt fish; farming and stock raising; town
building; real estate; railroad building; coal and iron business;
general and special merchandising; banking, and a multitude of other
businesses. Sixty-two banks are operated by Colored Americans, and there
is a National Negro Bankers’ Association, with W. R. Pettiford its
President, the latter gentleman being President of the Alabama Penny
Savings Bank, the second oldest Negro bank in the country. The Bankers’
Association has in process of formation, a large central Negro bank to
act for Negro banks in the same capacity as the great banks of the East
act as clearing houses for the other banks of the country.
It transpired in this connection, that the various Negro secret
societies had on hand a large amount of money for the purposes of
members’ funds and for widows. The Knights of Pythias alone, holding in
all, cash and property $1,500,000.