Black Business Activism in the Great Depression

Abstract

Chapter 2 pivots away from NC Mutual by more closely examining M&F Bank after its establishment and its survival amid the catastrophic collapse that precipitated the Great Depression decade. The chapter argues that because M&F Bank followed an ethos that engendered a deep commitment to the overall prosperity of the black community, it was in a much better position than most black-owned banks to advocate a return to political participation for the black community. In this way, Durham’s black businesspeople served as stalwart community leaders, which provided a training ground for a younger cadre of well-educated and ready activists. Moreover, they embraced a multidimensional strategy of reciprocity—complicated by gender, class, and intergenerational tensions.