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New PDF release: Black Business in the New South: A Social History of the

5 April 2018 adminInsurance

By Walter B. Weare

ISBN-10: 0822313383

ISBN-13: 9780822313380

At the flip of the century, the North Carolina Mutual lifestyles coverage corporation turned the "world's greatest Negro business." positioned in Durham, North Carolina, which used to be often called the "Black Wall road of America," this enterprise got here to represent the guidelines of racial development, self-help, and team spirit in the United States. Walter B. Weare's social and highbrow background, initially released in 1973 (University of Illinois Press) and up-to-date the following to incorporate a brand new creation, nonetheless stands because the definitive background of black company within the New South. Drawing on quite a lot of sources—including own papers of the company's leaders and oral background interviews—Weare lines the company's tale from its ideological roots within the eighteenth century to its financial luck within the 20th century.

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Extra resources for Black Business in the New South: A Social History of the North Carolina Mutual Life Insurance Company

Sample text

Remaining uncivilized . . ignorant, idle, and dependent on the United States Government.... Unlike the Negro [he continued], they have no banking institutions; neglecting their opportunity, they are fast losing their birth right, while on the other hand, NEGRO INDUSTRY, THRIFT, AND SELF-INITIATIVE have given to our race 10,000 mercantile enterprises, 63 banking institutions, 400 drugstores, 20 million acres of land, and material wealth exceeding $700,000,000. 69 67. Clippings, New York Age, April 4, 1907, Hampton Clippings, CCProgress and Prosperity," vol.

73. 37. Trent, "Development of Negro Life Insurance," p. 21. 38. , pp. 21, 27-29, 37-38. , pp. 3 1 , 32, 34, 48; Robert McCants Andrews, John Merrick: A Biographical Sketch (Durham: Seeman Printery, 1920), pp. 44-46; Albon L. Holsey, "Pearson: The Brown Duke of Durham," Opportunity, VI (April, 192 3), 116-117· The Evolution of Uplift 15 William Gaston Pearson, an outstanding Durham Negro businessman and educator who co-founded with Merrick both the Royal Knights of King David and the North Carolina Mutual, looked back from the perspective of the 1920'S to assess the transition provided by the fraternals: "These societies were the trail blazers of Negro business.

Had the Negroes of Wilmington owned half of the city ... there wouldn't anything happened to compare with what did. 62 Of the six men who joined Merrick in organizing the North Carolina Mutual, five had been active in politics. But they saw little reason to continue in the face of the disfranchisement campaign, and all redirected their energies into business and education, into separate black institutions. 63 Nearly as important as the overt white hostility in reinforcing ethnocentrism was a massive covert attack by the scientific racists and their popularizers, many of whom predicted that the Negro race was destined to die out within fifty years-and all for the good, because the black man was a parasitic weight on the progress of the republic.

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Black Business in the New South: A Social History of the North Carolina Mutual Life Insurance Company by Walter B. Weare


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