Progress and Achievements of the Colored People / Containing the Story of the Wonderful Advancement of the Colored Americans—the Most Marvelous in the History of Nations—Their Past Accomplishments, Together With Their Present-day Opportunities and a Glimpse Into the Future for Further Developments—the Dawn of a Triumphant Era. A Handbook for Self-improvement Which Leads to Greater Success

by Kelly Miller; Joseph R. Gay

ECONOMIC PROGRESS

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.