MARY LEE WASHINGTON’S JOURNEY

MARY LEE WASHINGTON’S JOURNEY

Life –  Acts of Faith

MARY LEE WASHINGTON’S JOURNEY:  Life Acts of Faith

Welcome!

This is it…  Michael Jackson’s “This is It” inspired the development of this we…. For me to say Yes, this is it. I am very tired…Facing a terrible situation …In a survival situation …The state of America for ordinary citizens as myself

Caring for people

Remaining positive for the sake of my children became mentally exhausting.

Lifelong Quest:

Helping minds develop

A dangerous journey:  fighting for rights

 

ABOUT “THE CHANGE DEVELOPMENT” PROJECT

If one could choose a single word to describe Maggie Walker, that word might be “leader.” She was a leader in the African American community, in the financial community, in the education community – and a leader of individual men, women and children from all walks of life.

Maggie was born on July 15 in Richmond, Va. Many sources, especially those published during her lifetime, list the year of her birth as 1867. However, scholars believe that it may have actually been a few years earlier. A biography of record about Maggie Walker was at long last made available in late 2003, just as the script for The Penny Executive was in its final stages. This work, written by Gertrude Woodruff Marlowe, is called A Right Worthy Grand Mission: Maggie Lena Walker and the Quest for Black Economic Empowerment. The book provides a careful examination of the surviving documents that relate to Maggie Walker. There is no official record of her birth, but census reports suggest that 1864 and 1865 are more probable than 1867.1

Elizabeth Draper, Maggie Walker’s mother, worked in the kitchen of Elizabeth Van Lew’s mansion, which was a stop on the Underground Railroad. There is little  documentation about exactly when she came to work there or what her status was, but it is likely that Elizabeth Draper met Maggie’s father during this time. Most sources indicate that Maggie Walker’s father was a white newspaper reporter/writer of Irish descent named Eccles Cuthbert.2

The most important aspect of Maggie’s young life was the presence of her mother, a strong woman with an independent spirit. In May 1868, Elizabeth Draper married William Mitchell, who had also worked in the Van Lew house. Mitchell soon found work as a waiter at the St. Charles Hotel and the new family moved to a home nearby. A son named Johnnie provided little Maggie with a brother in 1870. In 1876, William Mitchell died under mysterious and tragic circumstances. He disappeared in February 1876 and his body was found about five days later in the James River. The coroner’s report wrote it off as a suicide, but it is probable that he was robbed and murdered.3

Elizabeth Draper may have worked even while she was married, but following her husband’s death, she became the main provider for her family. She labored long and hard hours as a laundress so that Maggie could take advantage of every opportunity to gain an education.

Young Maggie Mitchell attended the Valley School (also known as the Old Lancasterian School) and then the Navy Hill School, which was staffed by black teachers, before entering the ColoredNormal School. These early teachers, along with the Colored Normal School’s white principal, Lizzie Knowles, were important influences on Maggie’s development. In addition to the usual subjects, she learned to take pride in her race, to value community, and to understand the importance of money management and property. She received an early lesson in acting on these teachings when she and several other classmates organized the first black school strike on record. They refused to hold their school graduation in a church when the white high schools held their graduations in the Richmond Theatre.4

Two other early occurrences helped to shape this future leader. In 1878, Maggie joined the First African Baptist Church (FABC) at the invitation of William White, the superintendent of the Sunday school. White, along with Reverend James H. Holme, the first black pastor of FABC, were strong influences on Maggie’s development. The spiritual life and community provided by the church became and remained an essential part of Maggie’s life.

The second occurrence took place when Maggie decided to join the Good Idea Council #16 of the Independent Order of St. Luke. In the late 1800s, benevolent organizations like the Order of St. Luke gave the black community a framework within which they could better their lives. Many of these organizations began as secret societies before the Civil War to help care for the sick and to bury the dead. Following emancipation, they provided the organizational network that led to the creation of many future African American organizations and institutions. St. Luke was an insurance society created to provide financial assistance in time of sickness or death, as well as to take part in other humanitarian projects. By the time of her high school graduation, Maggie was serving as secretary of the Good Idea Council and had been elected as a delegate to the 1883 St. Luke convention. Her apprenticeship as a leader of national importance was well under way.

For three years after her graduation, Maggie taught at the Colored Normal School, which gave her an income, excellent connections among the educated black elite of Richmond, and a certain standing within the black community. Unfortunately, Virginia law at the time prevented married women from teaching in public schools, so when Maggie married Armstead Walker Jr. in 1886, she had to give up her teaching position. This was undoubtedly a loss to the teaching profession, but it was to prove a boon to the Independent Order of St. Luke!

During these early years of her marriage, Maggie’s sons were born. The first, Russell Eccles Talmadge Walker, survived a difficult birth in 1925. A second son, who was named for his father, died in 1894 at the age of seven months, just a few months before Maggie’s brother Johnnie died. The third and last son, Melvin DeWitt Walker, was born in 1897.

As the two boys grew up, Maggie was able to devote considerably more time and energy to St. Luke and swiftly moved up through the ranks. Her desire to improve opportunities for children led her to propose a Juvenile Branch of the Independent Order of St. Luke at the Norfolk convention in 1895. In 1897, she was named the grand deputy matron of the Juvenile Branch! Her involvement grew with each passing year and she moved from one significant position to another: from worthy chief of Magdalena Council #125 to national deputy to secretary of the endowment department. Her influence could be felt at every level of the Order.

In 1889, at the St. Luke annual convention in Hinton, West Va., Maggie Walker was elected to the office of executive secretary-treasurer of the Order. She was faced with a declining membership and a large debt, but was determined to meet the challenge. To help stop the financial drain on the treasury, she had her yearly salary cut by a third. She reduced travel expenses by moving the headquarters of the order to Richmond. She visited chapters of St. Luke all over the Northeast, recruiting new members and encouraging old members to come back. Membership numbers began to grow again.

At the 1901 annual convention two years later, she delivered a critical speech about her further plans for improvement and expansion. She advocated the foundation of a newspaper to be called the St. Luke Herald. She called for the creation of an emporium to provide increased employment opportunities for the community, and she proposed that a savings bank be chartered and run by the men and women of the Order. Every one of these goals was achieved under her leadership! Founded in March 1902, the St. Luke Herald newspaper published news about the Order and about current events. In 1903, the St. Luke Penny Savings Bank began operations, and, in 1905, the St. Luke Emporium department store opened on Broad Street.

The most successful of these ventures was the St. Luke Penny Savings Bank. At Maggie Walker’s insistence, the bank kept pace with the changing banking practices in a rapidly growing and developing United States. Unlike many of the other black banks throughout the nation, Maggie’s Walker’s bank weathered recessions and new federal and state requirements. Following the stock market crash of 1929, it merged with the Second Street Savings Bank and became the Consolidated Bank and Trust Company, which is still operating as the oldest black bank in America.

The most difficult time of Maggie Walker’s life began in 1915 when her husband Armstead was killed in a terrible accident. According to Maggie Walker’s account, her son Russell accidentally shot his father when he mistook him for a burglar who had been seen on the roof of their house. Russell was arrested soon after the event. A coroner’s jury and apolice court hearing were held and the charges against Russell were dismissed for insufficient evidence. Later, after the story had received considerable attention in the press, Russell was again arrested and tried for his father’s murder. The ordeal dragged on throughout the summer and fall of 1915.

In August 1915, as the legal maneuvering in the trial continued, the St. Luke annual convention took place in Richmond. Some members of the Order tried to use the scandal of the trial to question Maggie Walker’s leadership role within the Order. Undaunted, she faced the assembled delegates and delivered a moving, heartfelt speech that summed up her work for St. Luke. She was re-elected by thunderous acclamation and held the office for the next 19 years.

Russell Walker was ultimately acquitted in November 1915. Maggie Walker and her son were vindicated, but the incident had taken a toll. Russell never completely recovered from the experience. He died at the early age of 33 in November 1923.

Although best known for her work with St. Luke’s bank, newspaper and emporium, Maggie Walker made significant contributions in other areas as well. Her friends and acquaintances included Booker T. Washington, W.E.B. Du Bois, Mary Macleod Bethune and many other leading lights of the maturing African American community. She was a member of the VirginiaState Federation of Colored Women’s Clubs and served on the executive committee of the National Association of Colored Women’s Clubs. She helped to organize the Richmond Chapter of the NAACP and served on its national board of directors. She was among the leadership of the National Negro Business league, the Richmond Community Hospital, the Urban League, the Commission on Racial Cooperation and played a weighty role in the establishment of VirginiaUnion University.

Maggie L. Walker died in Richmond, Va., on Dec. 15, 1934. Her last inspiring message to her friends and followers is said to have been: “Have faith, have hope, have courage, and carry on.”

References

1 Marlowe, Gertrude Woodruff. A Right Worthy Grand Mission: Maggie Lena Walker and the Quest for Black Economic Empowerment. Howard University Press, 2003, p.1-2.

2 Park Ranger Monamma AL-Ghuiyy of the Maggie L. Walker National Historic Site provided Foster Solomon (the playwright of The Penny Executive) with information about another Eccles Cuthbert who was a Confederate soldier. Most of the evidence seems to support the assumption that the Irish newspaperman was Maggie’s natural father.

3 Marlowe, Gertrude Woodruff. A Right Worthy Grand Mission: Maggie Lena Walker and the Quest for Black Economic Empowerment. Howard University Press, 2003, p.3.

4 Marlowe, Gertrude Woodruff. A Right Worthy Grand Mission: Maggie Lena Walker and the Quest for Black Economic Empowerment. Howard University Press, 2003, pp. 17-21.

MAGGIE’S WORLD: A TIMELINE RESEARCH PROJECT

Remarkable connections can be made by constructing timelines. In this activity, students will learn about the ideas, events and developments that created the world in which Maggie Lena Walker lived and died.

Time required: The time needed for this activity will vary depending on the number of entries and subject areas chosen for the timeline.

Purpose: By constructing a timeline, students will develop an understanding of what the world was like between the mid-1800s and the 1930s, the decade in which Maggie Walker died.

Virginia SOLs: History – VS.1, VS.8, VS.9, US11.3, US11.5, CE.9, CE.1 0, VUS.8

Materials:

poster board or grid paper

encyclopedias, reference books and Web sites

Getting Started: Did you know that Maggie Walker was born just as the Civil War was ending and lived to take part in the early development of the NAACP? You’ll discover the world she knew as you create a timeline using the suggestions on the next page. Feel free to add to the list as you explore. (The websites listed in the More about Maggie! A Web Quest Activity will help you with this project.)

Procedure (for the teacher):

This activity is adaptable in many ways. You may ask each student to create a timeline on grid paper that includes the people and events on the lists that follow on the next page. Each student should also prepare a report with a one- or two-sentence description explaining the significance of each entry. Younger students can make simple reports with just a few facts. Older students could write full reports or papers.

You may also divide the class into groups. Each group could report on one subject area and then present its discoveries. After the reports have been given, the class could collaborate in making a giant timeline on a bulletin board or scroll.

Finish the activity by discussing how the students’ understanding of the events of these years was altered by looking at the connections among subjects and people that are usually studied quite separately. You and the students will probably be surprised by some of the connections you will discover!

The following list offers suggestions for timeline entries.

Science and Technology

Automobile industry

(You may want to use 1864 as a “beginning” date for this industry. This was the year that Austrian engineer Siegfried Marcus built the first gasoline-powered vehicle. Several years later, he designed a vehicle that achieved the speed of 10 mph. Many historians consider this vehicle the forerunner of the modern automobile.)

Electrical power industry

(You may want to use 1890 as a “beginning” date for this industry. This was the year in which Nicola Tesla developed the first alternating current generator, which made long-distance power transmission possible.)

Aviation industry

(You may want to use 1903 as a “beginning” date for this industry. This was the year in which the Wright brothers made their famous flight.)

Politics

Emancipation Proclamation

Jim Crow laws

13th Amendment

14th Amendment

15th Amendment

Founding of the NAACP

Brown v. the Board of Education

Economics

Founding of the St. Luke Penny Savings Bank Creation of the Federal Reserve System

Great Depression

Wars

American Civil War

Spanish American War

World War I

Influential Leaders

Frederick Douglass

Booker T. Washington

W.E.B. Du Bois

Rosa Parks

Martin Luther King Jr.

  1. Douglas Wilder

Thurgood Marshall

Literature

Langston Hughes

Zora Neale Hurston

Publication of The Souls of Black Folk

Paul Lawrence Dunbar

Art and Music

Harlem Renaissance

Robert Scott Duncanson

Edward Mitchell Bannister

Duke Ellington

Marian Anderson

MORE ABOUT MAGGIE! A WEB QUEST ACTIVITY

In this activity, students will investigate many aspects of Maggie Walker’s contributions to her community.

Time required: The time needed for this activity will vary depending on the number of entries and subject areas chosen for the timeline.

Purpose: By finding the answers to the following questions on the World Wide Web, students will develop an understanding of the role Maggie Walker played during her lifetime.

Materials:

paper and pencil or pen

Maggie! Web quest question sheet

access to Web sites

Getting Started: This activity may be adapted to fit your class situation. The listed questions are fairly simple. Younger students can just answer the question without discussing it. Older students may develop reports about the people, movements and organizations mentioned in the questions. The websites listed on pages 14-15contain the answers to the questions.

 

MAGGIE! WEB QUEST

 

  1. One of the most important influences on Maggie Walker was her strong, hard-working mother. What was her name?

 

  1.  Many of the contributions made by Maggie Walker involved her long association with a benevolent society known as the Independent Order of St. Luke. When and where was this organization founded?

 

  1. The Maggie L. Walker National Historic Site is located in Jackson Ward, an area of Richmond once known as the “The Wall Street of Black America” because of its many banks. What was the original name of the bank founded in Jackson Ward by Maggie Walker?

 

  1. Maggie founded the St. Luke bank in 1903. During the following decades, she made sure that her bank kept up with the many changes in the state and federal banking laws. Among these changes was the creation of the Federal Reserve System. When was this system first established?

 

  1. Maggie Walker knew many of the African American leaders of her time. One of these leaders founded the Tuskegee Institute in Alabama in 1881. Who was he?

 

  1. Another of Maggie Walker’s colleagues published The Souls of Black Folk in 1903 and was a leader in the founding of the NAACP. Who was this writer, scholar and leader?

 

  1. What was the “Harlem Renaissance?”

 

  1. Maggie Walker lived to see the Jim Crow laws, which placed restrictions on the rights of African Americans, become a part of life in Richmond. Was Jim Crow a real person?

 

  1. Maggie Walker helped to found the Richmond branch of the NAACP and served on its national board. Name two of the founding members of this organization.

 

  1. Maggie Walker took part in the first recorded black school boycott in 1883. What happened in 1954 that changed the operation of public schools in the United States?

LIST OF SUGGESTED WEB SITES FOR THE

MORE ABOUT MAGGIE! WEB QUEST PROJECT

http://Www.nps.gov/malw/ This is the address of the Maggie Walker expanded webpage offered by the National Park Service.

An overview of her life is available at: http://www.nps.gov/malw/details.htm

A timeline of her life is available here: http://www.nps.gov/malw/timeline.htm

http://www.nps.gov/malw/stluke.htm This site is a part of the expanded Maggie L. Walker site offered through the National Park Service. This page gives a short explanation of the Independent order of St. Luke.

At the site listed below, there is a reference to a document that is part of the African American Manuscripts Collection at the Virginia Historical Society. This group of papers includes a copy of a letter from Maggie Lena (Mitchell) Walker to Mrs. Martha Woodfin.

http://vhs3.vahistorical.org/starweb/vhs/servlet.starweb#?

http://www.ci.richmond.va.us/departments/communitydev/neighborhoods/jacksonward.aspx

This address takes you to the Jackson Ward section of the official City of Richmond, Virginia website. The short description includes mentions of the St. Luke Penny Savings Bank and the Maggie L. Walker House.

The Federal Reserve Bank of Richmond’swebsite’s Virtual Money Museum is available here:  http://www.richmondfed.org/about_us/visit_us/tours/money_museum/index.cfm

http://www.nps.gov/bowa/home.htmThis address is the home page of the Booker T. Washington National Historic Monument, a National Park Service site located in Hardy, Virginia. It offers excellent information about Booker T. Washington. The section accessed at the following address gives a brief account of the differing views of Washington and Du Bois. http://www.nps.gov/bowa/titans.htm

http://memory.loc.gov/ammem/aap/aapexhp.html

This site provides an online visit to the Library of Congress special collection called African American Perspectives: Pamphlets from the Daniel AP. Murray Collection, 1818-1907. A brief biography of W.E.B. Du Bois can be found at this address on the website: http://memory.loc.gov/ammem/aap/dubois.html

http://www.nypl.org/research/sc/sc.html

This site is titled Schomberg Center for Research in Black Culture. The Schomberg Center is part of the New York Public Library. The site offers a number of links to a variety of resources, including this next link, which is an online exhibition titled Harlem 1900-1940: An African American Community:http://www.si.umich.edu/CHICO/Harlem/

http://www.liu.edu/cwis/cwp/library/aavaahp.htm

This site is titled African Americans in the Visual Arts: A Historical Perspective. The site is offered by the B. Davis Schwartz Library at Long Island University. The site offers biographies of 24 influential African American visual artists, as well as essays on various influences and movements.

http://www.csustan.edu/english/reuben/home.htm This site is a part of PAL: Perspectives in American Literature: A Research and Reference Guide – An Ongoing Project. It has been developed by Paul P. Reuben. Professor of English at California State University Stanislas, as a major site in American literature on the web. This site is particularly useful for those who have limited access to university libraries and databases.

http://www.pbs.org/wnet/jimcrow/This PBS website is devoted to the Jim Crow laws. A special section for teachers can be found athttp://www.pbs.org/wnet/jimcrow/education.html

http://www.naacp.org/index.shtml This address is for the homepage of the NAACP. To learn about the founding of the organization, go to:http://www.naacp.org/about/history/timeline/index.htm

http://www.nps.gov/brvb/index.htmThis is the website of the Brown v. Board of Education National Historic Site, which commemorate the landmark Supreme Court decision aimed at ending segregation in public schools. The historic site includes the Monroe Elementary School, one of the four segregated elementary schools for African American children in Topeka, Kansas, and the grounds that surround the building. Learn more about Brown v. the Board of Education at this website: http://www.nps.gov/archive/brvb/pages/thecase.htm

MAGGIE! WEB QUEST ANSWER KEY

  1. One of the most important influences on Maggie Walker was her strong, hard-working mother. What was her name?

Maggie Walker’s mother was born Elizabeth Draper. She later married William Mitchell.

  1. Many of the contributions made by Maggie Walker involved her long association with a benevolent society known as the Independent Order of St. Luke. When and where was this organization founded?

The Independent Order of St. Luke was established in 1867 in Baltimore. Originally a fraternal burial insurance society, the organization tried to help the sick and aged, promote good causes and encourage individual growth.

  1. The Maggie L. Walker National Historic Site is located in Jackson Ward, an area of Richmond once known as the “The Wall Street of Black America” because of its many banks. What was the original name of the bank founded in Jackson Ward by Maggie Walker?

The bank was called the St. Luke Penny Savings Bank. It later merged with other banks and is known today as the Consolidated Bank and Trust Company.

  1. Maggie founded the St. Luke bank in 1903. During the following decades, she made sure that her bank kept up with the many changes in state and federal banking laws. Among these changes was the creation of the Federal Reserve System. When was this system first established?

The Federal Reserve, the central bank of the United States, was founded by Congress in 1913 to provide the nation with a safer, more flexible, and more stable monetary and financial system.

Today the Federal Reserve’s duties fall into four general areas: (1) conducting the nation’s monetary policy; (2) supervising and regulating banking institutions and protecting the credit rights of consumers; (3) maintaining the stability of the financial system; and (4) providing certain financial services to the U.S. government, the public, financial institutions, and foreign official institutions.

  1. Maggie Walker knew many of the African American leaders of her time. One of these leaders founded the Tuskegee Institute in Alabama in 1881. Who was he?

Booker T. Washington founded the Tuskegee Institute. Learn more about him by visiting the home page of the Booker T. Washington National Historic Monument at http://www.nps.gov/bowa/home.htm.

  1. Another of Maggie Walker’s colleagues published The Souls of Black Folk in 1903 and was a leader in the founding of the NAACP. Who was this writer, scholar and leader?

W.E.B. Du Bois was the author of The Souls of Black Folk and many other significant works. He became the intellectual leader of his generation, leading and inspiring the literary movement known as the Harlem Renaissance.  Learn more at http://memory.loc.gov/ammem/aap/dubois.html

The Harlem Renaissance was a flowering of literature and art that took place in New York City during the 1920s and 1930s. The movement was largely inspired by the works of W.E.B. Du Bois, who edited a journal called The Crisis from 1910 to 1934.

  1. Maggie Walker lived to see the Jim Crow laws, which placed restrictions on the rights of African Americans, become a part of life in Richmond. Was Jim Crow a real person?

Jim Crow was not a real person. The name is taken from a popular nineteenth-century minstrel song that stereotyped African Americans. Learn more about the Jim Crow laws at http://www.pbs.org/wnet/jimcrow/

  1. Maggie Walker helped to found the Richmond branch of the NAACP and served on its national board. Name two of the founding members of this organization.

The founders of the NAACP included Ida Wells-Barnett, W.E.B. Du Bois, Henry Moscowitz, Mary White Ovington, Oswald Garrison Villiard, and William English Walling. Learn more about the organization athttp://www.naacp.org/about/history/timeline/index.htm

  1. Maggie Walker took part in the first recorded black school boycott in 1883. What happened in 1954 that changed the operation of public schools in the United States?

In May 1954, in the case known as Brown v. The Board of Education, the Supreme Court unanimously declared that separate educational facilities are inherently “unequal” and, as such, violate the 14th Amendment to the United States Constitution, which guarantees all citizens “equal protection of the laws.”

Learn about the Virginia case, Davis v. County School Board of Prince Edward

County, at http://www.nps.gov/archive/brvb/pages/thecase.htm

ADDITIONAL WEBSITE RESOURCES

Maggie Walker-related Web sites:

http://www.nps.gov/malw/ This Maggie Walker expanded webpage is offered by the National Park Service. Other useful information is available at the following addresses:

An overview of her life is found at: http://www.nps.gov/malw/details.html A timeline is found at: http://www.nps.gov/malw/timeline.html Photographs are found at: http://www.nps.gov/malw/mawa.html

Study materials for teachers and class visits to the Maggie Walker’s house can be arranged by contacting:

Maggie L. Walker National Historic Site

3215 East Broad Street

Richmond, VA 23223

Visitor Information:(804) 771-2017

(Additional sites are listed on “List of Suggested Web Sites for the More about Maggie! Web Quest Project.”)

Math and Money-related Web Sites

http://math.rice.edu/~lanius/Lessons/index.html

This site has been developed by educator Cynthia Lanius and hosted by Rice University. This site also contains excellent links to other math and computer-related activities. Ms. Lanius is now the Technology Integration Specialist for Sinton Independent School District in Sinton, Texas. Prior to this, she served as Executive Director for Rice’s Center for Excellence and Equity in Education and taught mathematics for eight years at Milby High School in the HoustonIndependent School District.

http://www.usmint.gov/

This is the site of the United States mint. The mint makes the coins we use.

http://www.moneyfactory.com/

This is the site of the U.S. Department of the Treasury’s Bureau of Engraving and Printing. This bureau prints the paper money that we use.

http://www.ustreas.gov/

This is the site of the U.S. Treasury Department.

The Federal Reserve Bank of Richmond’s website’s Virtual Money Museum is available here:  http://www.richmondfed.org/about_us/visit_us/tours/money_museum/index.cfm

READING LIST AND OTHER RESOURCES

Books about Maggie L. Walker and Her Times

Branch, Muriel Miller and Dorothy Marie Rice. Pennies to Dollars: The Story of

Maggie Lena Walker. Linnet Books. 1997.

Dabney, Wendell P. Maggie L. Walker: Her Life and Deeds. Eastern National Parks

& Monument Association, 1994. (This book was originally published in 1927 by The Dabney Publishing Company in Cincinnati, Ohio.)

Marlowe, Gertrude Woodruff. A Right Worthy Mission: Maggie Lena Walker and the

Quest for Black Economic Empowerment. Howard University Press, Washington DC.

Books and Pamphlets about Math and Money

Various Federal Reserve Banks offer many excellent educational resources such as the ones described below. They also provide information about tours.

___ . The New Color of Money: Safer, Smarter, More Secure. Department of the Treasury; The Board of Governor’s Federal Reserve System; Bureau of Engraving and Printing. n.d.

For information about ordering this pamphlet that describes the new look for money, visit www.moneyfactory.com/newmoney.

Steinberg, Ed. A Penny Saved … Why and How We Save, and How Saving Helps the

U.S. Economy. Federal Reserve Bank of New York. 2001 (fifth printing).

This comic-book style pamphlet explains the reasons people save, the ways in which they save, the role of banks as intermediaries between savers and borrowers, and the importance of saving to the U.S. economy. It also shows how interest helps savings grow in a bank account. It explains compound interest, and why interest rates are higher on some types of accounts than on others.

Martin, John and AI Wenzel. Once Upon a Dime. Federal Reserve Bank of New York.

2002 (seventh printing).

This comic-book style pamphlet explains the basic economic concepts of barter, money, banking, central banking and inflation.

Steinberg, Ed. The Story of Money. Federal Reserve Bank of New York. 2001 (sixth

printing).

This comic-book style pamphlet covers many aspects of money and banking.

To order all three pamphlets above, write to:

Federal Reserve Bank of New York

Public Information Department

33 Liberty Street

New York, NY 10045

www. newyorkfed. org

____ . History of Colonial Money. Publications, Public and Community Affairs Department. Federal Reserve Bank of Boston. Revised 5/96.

 

___ . Banking Basics. Publications, Public and Community Affairs Department. Federal Reserve Bank of Boston. Revised December 2002.

The two publications above may be ordered from:

Federal Reserve Bank of Boston

Publications, Public and Community Affairs Department

P.O. Box 2076

Boston, MA 02106-2076

www.bos.frb.org

___ . Dollars and Cents: Fundamental Facts About U.S. Money. Public Affairs Department. Federal Reserve Bank of Atlanta. November 2001.

This publication may be ordered from:

Federal Reserve Bank of Atlanta

Public Affairs Department

1000 Peachtree Street, NE

Atlanta GA 30309-4470

http://www.frbatlanta.org/

The rest of these items are available through the Federal Reserve Bank of Richmond,

Virginia.

To order, write to

Federal Reserve Bank of Richmond

P.O. Box 27622

Richmond, Virginia 23261

http://www.rich.frb.org/

Econ-Exchange: Practical Classroom Activities for Today’s K-12 Teachers: Government and Economics.Spring 2001, Volume 5, NO.2. E. Angus Powell Endowment and the Federal Reserve Bank of Richmond.

Bookmark Series, printed by the Federal Reserve Bank of Richmond. Includes Maggie Walker, Susan B. Anthony, Sacagawea and Dwight D. Eisenhower

Bookmark Series II, printed by the Federal Reserve Bank of Richmond. Includes Alexander Hamilton, Thomas Ewing, Woodrow Wilson, Johns Hopkins, James Knox Polk and Andrew Jackson.