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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 assurance corporation grew to become the "world's biggest Negro business." positioned in Durham, North Carolina, which used to be often called the "Black Wall highway of America," this company got here to represent the tips of racial development, self-help, and unity in the US. Walter B. Weare's social and highbrow historical past, initially released in 1973 (University of Illinois Press) and up to date right here to incorporate a brand new advent, nonetheless stands because the definitive background of black enterprise within the New South. Drawing on quite a lot of sources—including own papers of the company's leaders and oral historical past interviews—Weare lines the company's tale from its ideological roots within the eighteenth century to its financial good fortune within the 20th century.

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Lawrence N. Brown, "Insurance on American Negro Lives·' (Master's thesis, University of Pennsylvania, 1930), pp. D. dissertation, University of Pennsylvania, 1948), pp. 7-10; Trent, "Development of Negro Life Insurance," pp. 15, 16, 18. 45. Ben A. Neal to Booker T. Washington, April 24, 25, 1900, Washington Papers. The Evolution of Uplift 17 thought could not escape the impact of laissez faire economics and materialism in the late nineteenth century. Du Bois, in his attitude toward the decline of the mutual benefit societies and the rise of the more businesslike industrial insurance company, best illustrates the crosscurrents conditioning Negro business thought.

12. Albon Holsey, cCPearson: The Brown Duke of Durham," OpportfJnity~ VI (April, 1923), 116; interview, Clyde Donnell, June 10, 1968. 34 Black Business in the New South which they constantly overestimated. A black sociologist studying Durham during the 193ol's found this typical view expressed by an elderly black worker: C'I don't suppose there is a man living who got as much money from white people as Merrick got. 'l'13 Despite class feelings, the masses always exhibited an ambivalent sense of pride in the Mutual, and it may have been satisfying to think that Merrick, notoriously clever with whites, had maneuvered them out of their money.

35. Burrell, True Reformers, pp. 125, 317; Davis, William Washington Browne, pp. s. Department of Labor Bulletin no. 41 (Washington: Government Printing Office, 1902), pp. 807-814; Harris, The Negro as Capitalist, p. 63; Trent, "Development of Negro Life Insurance," pp. 18-21; Carter Godwin Woodson, "Insurance Business among Negroes," Journal of Negro History, XIV (April, 1929), 210; Booker T. Washington, The Story of the Negro (New York: Doubleday Page and Company, 1909), II, 162-168; Howard H.

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