Why Did the Freedmen's Savings Bank Fail

question 58

Multiple Choice

Why did the Freedmen's Savings Bank fail?

• A) The bank's black board of directors had little direct knowledge of banking policies and practices.
• B) The bank had no support from the black community.
• C) The stock market at that point was very weak and fluctuated wildly.
• D) The white leaders of the bank invested poorly and lost everything in the Panic of 1873.

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Definitions:

Coil Springs

Mechanical devices that can compress or extend to absorb impact or maintain force between contacting surfaces.

Hub Carriers

Component of a vehicle's suspension system that holds the wheel bearing and is mounted on the suspension.

Damper

A device used to dampen or inhibit the oscillation of mechanical energy, often seen in vehicle suspension systems.

Torsion Bar

A length of steel bar fastened to a control arm at one point and the vehicle’s frame at another. Movement of the control arm imparts twist on the torsion bar. The absorption of the twist is the spring action of the torsion bar.