Black Business in the New South: A Social History of the by Walter B. Weare

By Walter B. Weare

At the flip of the century, the North Carolina Mutual lifestyles coverage corporation turned the "world's biggest Negro business." situated in Durham, North Carolina, which used to be referred to as the "Black Wall road of America," this company got here to represent the guidelines of racial growth, self-help, and team spirit in the United States. Walter B. Weare's social and highbrow historical past, initially released in 1973 (University of Illinois Press) and up-to-date the following to incorporate a brand new advent, nonetheless stands because the definitive heritage of black enterprise within the New South. Drawing on a variety 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 fiscal good fortune 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

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Washington, The Story of the Negro (New York: Doubleday Page and Company, 1909), II, 162-168; Howard H. Harlan, Zion Town: A Study in Human 14 Black Business in the New South in 1900, the True Reformers claimed 100,000 members and had spread their operations to eighteen states. A decade later, debilitated by his absence and victimized by the overexpansion he fostered, the True Reformers collapsed. 36 Their legacy for the history of Negro life insurance is vastly important. 37 As new insurance societies arose on the heels of the True Reformers, many of them took the next step in the evolutionary pattern, dropping the fraternal and secret features and offering industrial insurance on a more scientific basis, largely copying and refining the system of the True Reformers.

Durham! The very name has become a synonymous tenn for energy, pluck and business ability. When you shout Durham! the gloomy and befogged financial atmosphere becomes clear and there is a mad rush and scramble for her bonds. When you say Durham! the wheels begin to tum, the smoke rolls in massive clouds from every stack and the sweet assuring music of busy machinery is heard. Durham! 73 The historian must always view entrepreneurs as actors in a system; thus the system becomes an object of study no less important than the behavior of the entrepreneurs themselves.

283-312; Helen Grey Edmonds, The Negro and Fusion Politics in North Carolina, 1894-1901 (Chapel Hill: University of North Carolina Press, 1951), pp. 136-177; Durham Daily Sun, October 20, 29, November 5; Raleigh News and Observer, October 25, November 11, 18g8. 57. Edmonds, Fusion Politics, pp. 159, 168-174. 58. Durham Daily Sun, October 29, November 5, 7, 1898. 22 Black Business in the New South of Negro business. As a black merchant in Indiana later complained to journalist Ray Stannard Baker, "The trouble here is that there is not enough prejudice against us.

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