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Product Identifiers

PublisherColumbia University Press

ISBN-100231183917

ISBN-139780231183918

eBay Product ID (ePID)23038266249

Product Key Features

Number of Pages288 Pages

Publication NameBanking on Freedom : Black Women in U. S. Finance before the New Deal

LanguageEnglish

SubjectWomen, United States / 19th Century, African American, Ethnic Studies / African American Studies

Publication Year2019

TypeTextbook

Subject AreaSocial Science, History

AuthorShennette Garrett-Scott

SeriesColumbia Studies in the History of U. S. Capitalism Ser.

FormatTrade Paperback

Dimensions

Item Height0.1 in

Item Weight15 Oz

Item Length0.9 in

Item Width0.7 in

Additional Product Features

Intended AudienceScholarly & Professional

LCCN2018-045341

Dewey Edition23

ReviewsShennette Garrett-Scott's compelling and highly original account demonstrates that, for black people, banks were more than financial institutions. In the hands of black women, capital accumulation, credit, and insurance became community building practices, mutual aid, strategies for collective survival, and sources of contestation. Banking on Freedom offers a new perspective on the entire community and the nation., Professor Garrett-Scott's extensively researched and documented study details the history of the Independent Order of St. Luke as it transformed from an insurance company founded by and for Black women to the establishment of the St. Luke Penny Savings Bank in 1903. The book provides a tremendously monumental contribution to African American banking history., Moving fluidly from the change purse to the bank vault, Banking on Freedom offers the first full accounting of the financial sector, womanhood, and Afro-America simultaneously transformed. Rich and brilliant., Garrett-Scott's extensively researched and documented study is the first history of U.S. finance that puts African American women at the center. Banking on Freedom makes a tremendously monumental contribution to African American banking history, and it substantially enriches our understanding of U.S. finance and capitalism., Garrett-Scott's accounting is a work of economic history, but it reads less as a description of 20th century Black capitalism, and more as a rendering of what is possible when women and people of color can effectively channel their own money for personal and collective economic development., Garrett-Scott reclaims the stories of black women who--as bank founders and clerks, investors, aspiring home owners, loan seekers, and, yes, as those denied loans--asserted their own economic ethos. A compelling account of black women's ideas about money, savings, lending, obligation, and economic well-being., This exploration of gender and race in the making of modern US finance represents an important historiographical intervention. Banking on Freedom is also an engaging and accessible read that is ripe for the current political and economic moment., Garrett-Scott strikes a careful balance with a narrative that brings together a cross-section of fields, including social, economic, political, labor, and business history with significant depth for a fresh perspective. Banking on Freedom will stand as a groundbreaking piece of scholarship that offers a useable framework -- a model --for historians interested in Black banking history., A beautifully written, comprehensive, and highly original study of black women's savvy business acumen in the aftermath of slavery through the early twentieth century. Garrett-Scott should be commended for boldly modeling just how gender and race shape capitalism and finance in ways few scholars have addressed., This recovery of one aspect of black women's history will appeal to scholars as well as those with a serious interest in the history of finance and women's history., Recovering the important and active role black women have played in the development of modern American capitalism, Shennette Garrett-Scott's Banking on Freedom is a paradigm-shifting work that stands to make a monumental contribution to the field and is certain to inspire future generations of scholars., Banking on Freedom is a major contribution to the history of US capitalism. It will undoubtedly inspire new scholarship. It pushes readers to reframe black women's Fight for economic justice in the most expansive ways.

IllustratedYes

Dewey Decimal332.1092520973

Table Of ContentAcknowledgments Introduction 1. "I Am Yet Waitin": African American Women and Free Labor Banking Experiments in the Emancipation-Era South, 1860s-1900 2. "Who Is So Helpless as the Negro Woman?": The Independent Order of St. Luke and the Quest for Economic Security, 1856-1902 3. "Let Us Have a Bank": St. Luke Penny Savings Bank, Economic Activism, and State Regulation, 1903 to World War I 4. Rituals of Risk and Respectability: Gendered Economic Practices, Credit, and Debt to World War I 5. "A Good, Strong, Hustling Woman": Financing the New Negro in the New Era, 1920-1929 Epilogue Appendix Notes Selected Bibliography Index

SynopsisBetween 1888 and 1930, African Americans opened more than a hundred banks and thousands of other financial institutions. In Banking on Freedom , Shennette Garrett-Scott explores this rich period of black financial innovation and its transformative impact on U.S. capitalism through the story of the St. Luke Bank in Richmond, Virginia: the first and only bank run by black women. Banking on Freedom offers an unparalleled account of how black women carved out economic, social, and political power in contexts shaped by sexism, white supremacy, and capitalist exploitation. Garrett-Scott chronicles both the bank's success and the challenges this success wrought, including extralegal violence and aggressive oversight from state actors who saw black economic autonomy as a threat to both democratic capitalism and the social order. The teller cage and boardroom became sites of activism and resistance as the leadership of president Maggie Lena Walker and other women board members kept the bank grounded in meeting the needs of working-class black women. The first book to center black women's engagement with the elite sectors of banking, finance, and insurance, Banking on Freedom reveals the ways gender, race, and class shaped the meanings of wealth and risk in U.S. capitalism and society., Shennette Garrett-Scott explores black financial innovation and its transformative impact on U.S. capitalism through the story of the St. Luke Bank in Richmond, Virginia: the first and only bank run by black women. Banking on Freedom offers an unparalleled account of how black women carved out economic, social, and political power.