Quote by Carter G. Woodson
Negro banks, as a rule, have failed because the people, taught that their own pioneers in business cannot function in this sphere, withdrew their deposits.
Summary
This quote suggests that one reason for the failure of Negro banks is the lack of confidence and support from the community. It implies that people have been conditioned to believe that African American entrepreneurs and business leaders cannot succeed in the banking industry. As a result, they choose to withdraw their deposits, causing the banks to fail. This explanation highlights the importance of community trust and belief in supporting and sustaining minority-owned businesses.
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