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For Release on D e l i v e r y T h u r s d a y , A u g u s t 2 8 , 1969 1:00 p.m. , E . D . T . EDUCATION AND THE ECONOMIC ADVANCEMENT OF MINORITY GROUPS I N THE UNITED STATES Remarks By Andrew F. Brimmer Member Board o f Governors o f t h e F e d e r a l Reserve System Before the Annual Convention of Phi Epsilon Pi F r a t e r n i t y Americana M i a m i Beach, August 28, Hotel Florida 1969 EDUCATION AND THE ECONOMIC ADVANCEMENT OF MINORITY GROUPS I N T I E UNITED STATES By Andrew F . B r i m m e r * I was f l a t t e r e d b y t h e i n v i t a t i o n of Phi Epsilon Pi F r a t e r n i t y Annual your r e c o g n i t i o n of I and t o g i v e t h e o p e n i n g a d d r e s s a t its Convention. I n accepting your service t o become an h o n o r a r y member invitation, t h e modest e f f o r t s l e t me e x p r e s s my g r a t i t u d e I have been making i n t h e through s h a r i n g i n the conduct o f also accepted, symbolically however, — as w e l l t h a t we a r e f u l l y integrated think it is v i t a l economic to demonstrate a truly democratic is testimony I w a n t t o f o c u s on t h e v i t a l r o l e which i n t h e e c o n o m i c advancement o f N e g r o e s and o t h e r groups country. But I business concerned, and p r o f e s s i o n a l Jewish educa- minority several points are community can e x e r t actually takes. As f a r clear: ^Member, B o a r d o f G o v e r n o r s o f t h e F e d e r a l R e s e r v e S y s t e m . I am g r a t e f u l f o r t h e a s s i s t a n c e o f a number o f p e r s o n s i n t h e p r e p a r a t i o n of these remarks. The P r e s i d e n t s o f t h e t w e l v e F e d e r a l R e s e r v e Banks s h a r e d w i t h me t h e r e s u l t s o f t h e i r a s s e s s m e n t o f t h e e x t e n t o f p a r t i c i p a t i o n by m i n o r i t y g r o u p s i n t h e management o f t h e l e a d i n g c o m m e r c i a l b a n k s i n t h e i r respective D i s t r i c t s . M r . H e n r y S. T e r r e l l and M i s s M a r y Ann G r a v e s o f t h e B o a r d ' s s t a f f a l s o a s s i s t e d me a t s e v e r a l p o i n t s . and a l s o want t o emphasize t h e c r u c i a l i n f l u e n c e shaping the course which t h i s development education is -- t o such a commitment. t i o n must p l a y which the n a t i o n ' s policy. Our p r e s e n c e h e r e t o g e t h e r - - w h i t e and b l a c k , I n these remarks, in this public as t h r o u g h q u i e t deeds c a r r i e d o u t d a y - t o - d a y committed t o the achievement o f society. and n o n - J e w i s h - - because I the n a t i o n ' s for in as -2- S i g n i f i c a n t s t r i d e s h a v e b e e n made i n r e c e n t years i n the f o r m a l e d u c a t i o n a l achievements o f Negroes. This i s e s p e c i a l l y t r u e at the c o l l e g e l e v e l , and t h e o u t l o o k i s f o r an acceleration in college enrollment. However, because o f the s u b s t a n t i a l educat i o n a l and c u l t u r a l d e f i c i t w h i c h m o s t o f t h e b l a c k s t u d e n t s b r i n g t o t h e campus ( a d e f i c i t r e f l e c t i n g the legacy of segregation and d i s c r i m i n a t i o n w h i c h t h e i r f a m i l i e s h a v e had t o b e a r ) , t h e t a s k o f p r e p a r i n g them f o r p r o f e s sional roles in a competitive, post-college w o r l d i s a l s o enormous. Unfortunately, t h i s task is being complicated and made more d i f f i c u l t b y an i n c r e a s i n g e m p h a s i s o n , f b l a c k s t u d i e s 1 1 and s i m i l a r programs. I n my o p i n i o n , s u c h p r o g r a m s ( p e r h a p s unconsciously) serve mainly to c u l t i v a t e a c u l t o f incompetence - - r a t h e r than to b u i l d r i g o r o u s i n t e l l e c t s or to develop e x p e r t i s e i n a d i s c i p l i n e . H o p e f u l l y , t h e v a s t m a j o r i t y o f Negro s t u d e n t s - as w e l l as t h e i r c o l l e g e f a c u l t i e s - - w i l l r e c o g n i z e the l i m i t a t i o n s o f such d i g r e s s i o n s and g e t on w i t h t h e r e a l c h a l l e n g e o f m a k i n g e d u c a t i o n a m e a n i n g f u l v e h i c l e f o r t h e economic advancement o f o u r Negro c i t i z e n s . I n t h e case o f the business community, several points clear: I n c r e a s i n g l y , the business l e a d e r s h i p of t h i s c o u n t r y i s p l a c i n g i t s w e i g h t and e m p l o y i n g i t s e n e r g i e s t o h e l p ease t h e p l i g h t o f o u r u r b a n a r e a s and t o i m p r o v e t h e e c o n o m i c c o n d i t i o n s of m i n o r i t y groups. S a d l y , h o w e v e r , some o f t h i s same b u s i n e s s l e a d e r s h i p ( a l s o perhaps u n c o n s c i o u s l y ) i s h e l p i n g to strengthen the forces of r a c i a l d i v i s i o n and s e p a r a t i s m w h i c h c a n o n l y f r u s t r a t e and d e l a y t h e N e g r o f s f u l l p a r t i c i p a t i o n i n an o p e n and i n t e g r a t e d economy. are also - 3 - I am p a r t i c u l a r l y on t h e p a r t o f essential d i s t r e s s e d by t h e some o f o u r m o s t p r o m i n e n t b u s i n e s s arguments advanced by t h e advocates o f find i t difficult to believe finance can d o u b t that t h a t men a t t h e leaders of forefront groups the separatism. of I the i n the United t h e a p p r o a c h e s w h i c h some o f o u r l e a d i n g c o r p o r a t i o n s and only States. and financial institutions a r e a d o p t i n g i n an e f f o r t it them go a l o n g way t o w a r d a c c o m m o d a t i n g t h e r a c i a l s e p a r a t i s t s confronts and t h u s further deepen t h e r a c i a l Personally, I t o cope w i t h personally industry an open and i n t e g r a t e d economy o f f e r s sure p a t h t o genuine p r o g r e s s by m i n o r i t y Yet, acceptance the urban c r i s i s d i v i s i o n s which plague as us. t h i n k we h a v e r e a c h e d a p o i n t w h e r e t h e business c o m m u n i t y m u s t be a s k e d t o pause and p o n d e r t h e l o n g - r u n i m p l i c a t i o n s some o f t h e r e s p o n s e s b e i n g made u n d e r p r e s s u r e s e x e r t e d by s m a l l - Personally, of special I but vocal am g l a d t o see t h a t , interest t o me - - the immediate s t i m u l a t i o n -- i n the bands o f b l a c k field the key l e a d e r s h i p of banking - - which i n the i n d u s t r y a u n r e a s o n a b l e demand a d v a n c e d b y one g r o u p c o m m i t t e d t o a p o l i c y l i o n of The b a n k i n g i n d u s t r y a s s e t s be t r a n s f e r r e d "recoupment" of sate i n part for on N e g r o e s o v e r finally rejected against t h e damages w h i c h r a c i a l patently of t h e demand t h a t the w h i t e community t o d i s c r i m i n a t i o n has T h i s e p i s o d e , w h i c h grew o u t o f is has t o t h e t w e n t y - o d d b l a c k - o w n e d banks outstanding claims the years. of segregationists. r e c e n t l y e r a s e d w h a t a p p e a r e d t o have b e e n t h e a c c e p t a n c e o f separatism. of $6 bil- as compen- inflicted a conference -4- on u r b a n a f f a i r s of this year, inherent and sponsored by the b a n k i n g i n d u s t r y i l l u s t r a t e s a l l too w e l l i n attempts t o compromise w i t h leaders progress the advocates o f r a c i a l in t h a n s e e k ways t o accommodate t h e the business they are committed to within division require the-job minority groups proposition truth, the fact i n order (while t h a t m o s t members o f it amount o f not m i g h t be p a i n f u l qualifications To o b t a i n a b e t t e r groups in me), asked the P r e s i d e n t s I assessment o f a r e m a k i n g headway a t groups these o p p o r t u n i t i e s . At to racism. N e g r o e s and o t h e r the v a l i d i t y H a v i n g seen t a s k o f remedying the them special t o w h i c h members o f level of this deficit suffer. the progress of minority interest such Puerto Ricans, to share groups* i n t h e l e a d i n g banks i n *The groups were d e f i n e d t o i n c l u d e Negroes, M e x i c a n - A m e r i c a n s , O r i e n t a l s and I n d i a n s . leaders t h e t w e l v e F e d e r a l R e s e r v e Banks t o the executive groups on- (again which is of the e x t e n t that (including to admit i t ) , appreciation of of These these m i n o r i t y the acceptance o f the u r g e n t clear for minority preparation f r o m w h i c h most o f the banking i n d u s t r y w i t h me t h e i r that a capitulation t h e y s h o u l d g e t on w i t h in technical special to take advantage o f should recognize is unmistakably an o p e n and i n t e g r a t e d s o c i e t y . a considerable training) t h e same t i m e c o m m u n i t y s h o u l d make i t separatists, the broadening of o p p o r t u n i t i e s the framework o f should also accept this to orderly spring separatism. Rather will the dangers i n the l a t e their -5- Districts. from The p i c t u r e w h i c h emerges f r o m t h e s e o b s e r v a t i o n s is far encouraging: T h e r e a r e v i r t u a l l y no members o f t h e s e m i n o r i t y g r o u p s s e r v i n g on t h e b o a r d s o f d i r e c t o r s o r as s e n i o r o f f i c e r s o f t h e l e a d i n g b a n k s i n any o f o u r l a r g e c i t i e s . A s u b s t a n t i a l number o f b a n k s h a v e members o f m i n o r i t y g r o u p s s e r v i n g as j u n i o r o f f i c e r s , and an e v e n l a r g e r number o f b a n k s h a v e t h e m e n r o l l e d i n management t r a i n i n g p r o g r a m s . However, most o f t h e banks have a d i f f i c u l t t i m e h o l d i n g m i n o r i t y g r o u p members who a r e j u n i o r o f f i c e r s and t r a i n e e s o r a t t r a c t i n g others. I n my p e r s o n a l j u d g m e n t , as w e l l ) can t a k e - - t h e banks and s h o u l d t a k e - - (and o t h e r steps corporations strengthen their tions with minority groups, w i t h o u t racial and t h u s e n h a n c e t h e c o n t r i b u t i o n w h i c h t h e separatists, trying to large to negotiate c o m m u n i t y c a n make t o w a r d i m p r o v i n g c o n d i t i o n s Progress in made i n t h e e d u c a t i o n a l is especially median years of and o v e r years attainment schooling and i n t h e l a b o r w h i t e men had r i s e n the o u t s e t , significant business areas. strides o f American Negroes t r u e o f young p e o p l e . f o r w h i t e men - - with Education As I m e n t i o n e d a t This i n urban treaties rela- For example, have been i n recent i n 1957, the f o r n o n w h i t e men (who w e r e 18 y e a r s o f force) a gap o f were 8 . 0 y e a r s , 3.5 years. to 10.2 years, w h i l e compared w i t h By 1 9 6 7 , years. age 11.5 the median f o r non- t h e m e d i a n f o r w h i t e men had -6- climbed to 12.3 years. 2.1 years, o r by t h r e e - f i f t h s . of schooling rose over w h i t e women, Thus, i n a decade, the d i f f e r e n t i a l Among n o n w h i t e women, the p e r i o d from 8.9 t h e r i s e was f r o m 1 2 . 2 y e a r s years A somewhat more r e f i n e d statistics shows an e v e n s h a r p e r by young n o n w h i t e s gap o f i n 1968, old, of 0 . 4 y e a r s was o n l y o n e - f i f t h as l a r g e f o r w h i t e men. group, median years o f years i n 1968. from 12.3 years differential of Among w h i t e women, f o r w h i t e men. for This of 1.9 nonwhite from 11.1 years i n 1968. i n 1960 t o 12.2 t h e same p e r i o d was Thus, from 1.2 years the nonwhite-white to 0.3 years, a decrease three-quarters. In reporting not wish to whites, that completed as t h e d i f f e r e n c e the r i s e over 12.5 years among women d e c l i n e d among Among n o n w h i t e women i n t h e same age schooling rose i n 1960 t o attainment school y e a r s r e c o r d e d i n 1 9 6 0 , when t h e m e d i a n s w e r e 1 0 . 5 y e a r s men and 1 2 . 4 y e a r s Bureaufs For i n s t a n c e , 12.6 years case, f r o m 3 . 3 y e a r s t o 0. 9 y e a r s . the median years o f compared w i t h for In this educational for whites. to years to 11.5 y e a r s ; t h e Census conversion of toward the l e v e l n o n w h i t e men 25 t o 29 y e a r s were 12.2 years analysis the median to 12.4 years. t h e d i f f e r e n t i a l was c u t b y more t h a n t w o - t h i r d s , shrank suggest that compared w i t h such i s not t h e above e v i d e n c e o f p r o g r e s s the q u a l i t y r e c e i v e d by w h i t e s , the case. On t h e o t h e r h a n d , in I do t h e e d u c a t i o n r e c e i v e d by n o n - that some i m p r o v e m e n t has o c c u r r e d of i n education, the q u a l i t y is I e q u a l l y good. think it is We know clear of education obtained that by - 7 - nonwhites over the l a s t decade. Nevertheless, t h e r e m a i n i n g d i s t a n c e we m u s t t r a v e l b e f o r e we h a v e a t r u e e q u a l i t y o f e d u c a t i o n r e m a i n s c o n s i d e r a b l e . E d u c a t i o n and E c o n o m i c Advancement The a d v a n c e m e n t brought significant i n the educational improvements l e v e l of nonwhites i n the economic p o s i t i o n o f has t h o s e who have a t t a i n e d t h e i n c r e a s e d s c h o o l i n g . W h i l e s u c h an o u t c o m e i s expected, the extent of is it be. should The d e g r e e o f t h e improvement less widely recognized in Years o f identified be than e c o n o m i c advancement c a n be o b s e r v e d i n t h e Census B u r e a u ' s d a t a s h o w i n g changes i n t h e m e d i a n i n c o m e s o f N e g r o and men, to by y e a r s o f schooling, who w e r e l i v i n g in large white cities 1959 and 1 9 6 7 : Schooling Median Income: 1959 Elementary: 8 y r s or less 1967 N e g r o Men Percentage Increase M e d i a n I n c o m e : W h i t e Men 1959 1967 Percentage Increase N e g r o as Per c e n t White of 1959 1967 $3,428 $4,215 23 $5,137 $5,658 10 66.7 74.5 High School: 1 - 3 yrs 4 yrs 4,059 4,323 5,086 5,642 25 31 5,788 6,265 6,748 7,543 17 20 70.1 69.0 75.4 74.8 College: 1 y r o r more 4 y r s o r more 5,022 n. a. 7,025 7,556 40 n. a. 7,686 8,486 9,222 10,261 20 21 65.3 76.2 73.6 -8- I n summary, basis of these data. between the about higher observations B e t w e e n 1959 and 1 9 6 7 , given the l e v e l three-quarters the important two g r o u p s narrowed a p p r e c i a b l y ; median incomes, to several level of during education, same r a t i o raised 8 years or had r i s e n more o f college While the powerful of in this 1967, adverse influence deprivation despite still meaning t h a t of discrimination progress although Still trates the the d i f f e r e n c e other significant -- is it of for the experience above t h a t or for obviously not because i t that economic enough. t h e Census o f e d u c a t i o n on e c o n o m i c shows indicators a l s o shows large or one-third i n t h e pace o f i n f o r m a t i o n from the Bureau o f effects that college and o t h e r advancement o f e d u c a t i o n - - a d v a n c e m e n t does make a d i f f e r e n c e -- remaining For those w i t h 4 years distressing educational in gains By 1 9 6 7 , t h e r a t i o was 1 3 3 . 5 p e r c e n t - - comparison i s increase (97.8 per cent) an e l e m e n t a r y e d u c a t i o n . the 1 y e a r o r more less of elementary education. 124.2 per cent - - two-thirds f o r w h i t e men. the t h e m e d i a n i n c o m e o f Negro men a b o u t o n e - q u a r t e r w h i t e men w i t h o n l y more. to as t h e g a i n s i n 1 9 5 9 , N e g r o men w i t h below to- w h i t e the r e l a t i v e shows how s e r i o u s had a m e d i a n income s l i g h t l y w h i t e men w i t h rose from about More i m p o r t a n t l y , E x p r e s s e d a n o t h e r way - - w h i c h a l s o college o f Negro Over t h e same p e r i o d , f o r N e g r o men w e r e 1 - 1 / 2 t o 2 t i m e s as l a r g e f o r Negroes - - the r a t i o the differentials t h e g r e a t e r was t h e r a t e o f t h e median income o f b o t h groups. income l a g i s t h e income of education, these y e a r s . c a n be made o n illus- advancement. -9- This information school seniors students and i f is derived i n October, i n February, so, whether ing high school. obtained 1967, cent of s t u d e n t s who w e r e and a f o l l o w - u p survey of to determine whether A considerable amount o f conclusions, as l i k e l y the l a t t e r . t h e y had g r a d u a t e d additional i n favor t h e Negro But the r e s u l t s is clear attendance, family Thus, of importance i n the p r o b a b i l i t y of white students; attending j u s t under h a l f compared w i t h than r a c i a l d i f f e r e n c e s . of attending college, that there is N o t o n l y does e d u c a t i o n r a i s e that onefs expected income. status of just of current children w i l l Against this of From t h e s e data, given high school parents, the household head. a strong cumulative value r a p i d gain i n education of nonwhites of t h e s u r v e y showed s o m e t h i n g t h a t may be and i m p r o v e d o c c u p a t i o n a l their white compared w i t h 93 p e r s i g n i f i c a n t l y w i t h the education l e v e l of the p r o b a b i l i t y Negro graduates. the p r o b a b i l i t y the evidence suggests turn raises ularly rises income, education. raises that complet- f r o m h i g h s c h o o l as w e r e t h e w h i t e h i g h s c h o o l g r a d u a t e s w e n t on t o c o l l e g e , it -- i n f o r m a t i o n was suggested t h a t the former graduated, The d i f f e r e n c e c o l l e g e was e v e n g r e a t e r e v e n more c r u c i a l t h e same a t any t i m e s i n c e the r e s u l t s to graduate a b o u t 86 p e r c e n t o f over o n e - t h i r d of high groups. Among o t h e r seniors; 1965, t h e y had a t t e n d e d c o l l e g e from both s e n i o r s were n o t from a survey of income, but it also be e d u c a t e d - - w h i c h background, the of in partic- i n t h e 2 5 - 2 9 age g r o u p -10d i s c u s s e d above erable (the years of significance, smaller chance o f prime f a m i l y because i t suffering suggests formation) that their from the legacy of t a k e s on consid- c h i l d r e n stand parents w i t h a limited education. The C h a l l e n g e o f I Education o b s e r v e d above t h a t the s u b s t a n t i a l deficit w h i c h accompanies most b l a c k s t u d e n t s serious challenge the to these i n s t i t u t i o n s . typical black college part, c a n be s e e n i n C o u n c i l on E d u c a t i o n student has, the r e s u l t s (ACE). of One o f to c o l l e g e w i l l J u s t how much o f all separately institutions, inately white colleges, at for studies conducted by the disturbing reported in -- reading. from t h i s Among o t h e r the survey give borne by Negro s t u d e n t s education. (black vs. two-year a clear counter- American The r e s u l t s nonblack) colleges, a t p r e d o m i n a t e l y Negro and a t p r e d o m i n a t e l y w h i t e The i n f o r m a t i o n freshmen by c o l o r colleges, a handicap t h e ACE's s u r v e y s f o c u s e d on t h e 1968 predominantly white four-year pose a compared w i t h h i s w h i t e freshman class at American i n s t i t u t i o n s of higher were r e p o r t e d e d u c a t i o n a l and c u l t u r a l at at predom- four-year universities. s u r v e y makes f a s c i n a t i n g conclusions, indication of compared w i t h w h i t e -- the f o l l o w i n g the type of examples handicaps students: Family background: The p a r e n t s o f t h e b l a c k s t u d e n t s h a v e a much l o w e r l e v e l o f educational attainment. R o u g h l y 55 p e r cent of the b l a c k students1 f a t h e r s , c o m p a r e d w i t h 26 p e r c e n t o f o t h e r s t u d e n t s f a t h e r s , had n o t g r a d u a t e d f r o m h i g h s c h o o l . and 1 - 1 1 - Over o n e - t h i r d (35 p e r c e n t ) o f t h e b l a c k s t u d e n t s ' f a t h e r s were employed i n uns k i l l e d or s e m i - s k i l l e d occupations, a g a i n s t l e s s t h a n 12 p e r c e n t f o r t h e fathers of white students. Income o f t h e b l a c k s t u d e n t s 1 f a m i l i e s was s u b s t a n t i a l l y b e l o w t h a t o f o t h e r s t u d e n t s ' families. N e a r l y t h r e e - f i f t h s (56 p e r c e n t ) o f t h e b l a c k s t u d e n t s and o n e - s e v e n t h ( 1 4 p e r cent) of the nonblack students reported t h e i r p a r e n t s 1 y e a r l y income as u n d e r $ 6 , 0 0 0 . Only 6 p e r c e n t o f t h e b l a c k s t u d e n t s , compared w i t h one-fourth of the white students, reported p a r e n t a l f a m i l y income o f $ 1 0 , 0 0 0 o r m o r e . Black students ( e s p e c i a l l y at predominantly w h i t e f o u r - y e a r c o l l e g e s ) were r e l y i n g h e a v i l y on l o a n s , s c h o l a r s h i p s , and g r a n t s - - r a t h e r t h a n p r i m a r i l y on f a m i l y s u p p o r t - - t o f i n a n c e t h e i r f i r s t year of c o l l e g e . Students1 high school performance: Black students seem t o h a v e done l e s s w e l l i n h i g h s c h o o l than nonblack students. Over t w o - f i f t h s o f t h e b l a c k s t u d e n t s (42 p e r c e n t ) and l e s s t h a n o n e - t h i r d o f the w h i t e s t u d e n t s (31 per c e n t ) r e p o r t e d average grades below B - . About 6 per c e n t o f t h e b l a c k s t u d e n t s and a l m o s t 14 p e r cent of the o t h e r students r e p o r t e d h i g h school grades o f A- o r b e t t e r . B l a c k s t u d e n t s were p r o p o r t i o n a t e l y l e s s l i k e l y t h a n w h i t e s t u d e n t s t o be a member o f a s c h o l a s t i c honor s o c i e t y , w i n r e c o g n i t i o n i n the N a t i o n a l M e r i t P r o g r a m , o r p u b l i s h an o r i g i n a l w r i t i n g . On b a l a n c e , b l a c k s t u d e n t s r a t e d t h e a c a d e m i c standards of t h e i r high school lower than d i d other students. Studentsf college aspirations: Black students are e s p e c i a l l y less l i k e l y than white students to choose a m a j o r i n t h e p h y s i c a l s c i e n c e s o r engineering. Black students are s u b s t a n t i a l l y -12- more l i k e l y t h a n o t h e r s t u d e n t s t o c h o o s e a major i n the s o c i a l sciences or business, and somewhat more l i k e l y t o s e l e c t e d u c a t i o n . M a t h e m a t i c s and s t a t i s t i c s a r e l e s s l i k e l y t o be c h o s e n as m a j o r s by b l a c k s t u d e n t s t h a n by w h i t e s t u d e n t s . W h i l e p r o p o r t i o n a t e l y more b l a c k s t u d e n t s t h a n o t h e r s t u d e n t s have p o s t b a c c a l a u r e a t e d e g r e e a s p i r a t i o n s , p r o p o r t i o n a t e l y more of the nonblack students aspire to a profess i o n a l degree. One c o u l d go on c i t i n g significant ever, differences think I is the catalogue is most o f I do n o t think l o n g enough t o d e m o n s t r a t e face. Thus, the r e a l into judgment college. issue recruited), that I accept t h e y s h o u l d be Personally, I that fact think t o be dealt I n my personal physical whether qualifications are being colleges1 the t h e o n l y way t o c o m p e n s a t e f o r is sciences the lags to provide opportunities them t o do t h e r e m e d i a l w o r k i n a r e a s skills, as r e f l e c t i n g s u c h as m a t h e m a t i c s , reading and f o r e i g n l a n g u a g e s w h e r e O n l y b y b r i n g i n g b l a c k s t u d e n t s up par can t h e c o l l e g e s t h e s e and s i m i l a r fields create the in on campus n e e d seems t o be t h e g r e a t e s t . in of there. the preparation of black students and w r i t i n g (and o t h e r s How- the extent o r do n o t - - m e e t t h e minimum Since they are e n r o l l e d showing students. t h a t we s h o u l d d w e l l on t h e q u e s t i o n o f t h e s e s t u d e n t s do - - vigorously for college t h e b e s t way t o p r o c e e d i n m a k i n g u p t h e d e f i c i t . opinion, to get f r o m the ACEfs s u r v e y b e t w e e n b l a c k and w h i t e h a n d i c a p s w h i c h Negro s t u d e n t s with evidence the to necessary -13- foundations Moreover, on w h i c h t h e s e s t u d e n t s it s h o u l d be o b v i o u s a considerable this investment of requirement is that can b u i l d such r e m e d i a l clear coming a t e x a c t l y priorities acceptance - - promptly the educational upon e n t e r i n g c o l l e g e . of of I academic base a t can u n d e r s t a n d may the educational not -- t a k e more t h a n t h e Unfortunately, as w i d e l y and c u l t u r a l that recognition Moreover, this -- four of of a increasingly earning a college years. approach t o students Instead, and a p p a r e n t l y correcting a a subjects is sizable considerable seem t o h a v e c o n c l u d e d t h a t the suffer t h i n k most t h e y seem should be. -- -- students chance borne by most b l a c k students them t h e y do a c q u i r e them - - sensible a c c e p t e d o n campuses as i t f a c u l t y members as w e l l But I they stand l i t t l e f o r many o f deficit claims to the suggestion i n remedial work. s t u d e n t s do n o t n e e d t o m a s t e r many o f over traditional however, number o f b o t h b l a c k and w h i t e number o f t h e need f u l l y why many s u c h are b i t t e r the o u t s e t . that Since i m p o r t a n c e o f m a k i n g up college education unless t o be a c c e p t i n g t h e f a c t degree funds, s h o u l d be a c l e a r the c r i t i c a l them so e n r o l l e d a l s o r e a l i z e stronger require self-evident. there i m p l i e d by e n r o l l m e n t obtaining a meaningful limited and c u l t u r a l d e f i c i t w h i c h m o s t o f from disadvantaged backgrounds inadequacy programs w i l l t h e t i m e when so many o t h e r s h o u l d be Among N e g r o s t u d e n t s , and a w i l l i n g education. t i m e and money b y t h e i n s t i t u t i o n s . a r e b e i n g r e g i s t e r e d on t h e c o l l e g e s 1 establish a substantive ordinarily black included -14- i n the c u r r i c u l u m of true of courses in the t y p i c a l liberal the humanities, arts I the r e a c t i o n against find profoundly disturbing. "black studies" for and s i m i l a r separate departments on-campus l i v i n g apologists ularly for this Out o f it programs - - Indeed, initial coupled w i t h faculties) some o f demands and e v e n f o r t h e more for segregated sophisticated d i v i s i o n and s e g r e g a t i o n t h e most s e n s i t i v e t o ease t h e i r which has come a r i s i n g demand and l i b e r a l t h a t b l a c k s t u d e n t s on p r e d o m i n a t e l y w h i t e accommodations completely nonwhites. frequently new b r a n d o f r a c i a l among some o f is especially t h i s n e g l e c t has t a k e n a t u r n (with all-black quarters. This w h i c h have u s u a l l y o v e r l o o k e d t h e c o n t r i b u t i o n s made b y N e g r o e s and o t h e r Yet, college. (partic- f a c u l t y members) campuses r e q u i r e such exposure to a mainly w h i t e argue separate environ- ment. Personally, students I to waste t h e i r and s i m i l a r think -- while some o f competition After all, it for for in "black or nothing Negro studies" to prepare employment o p p o r t u n i t i e s s h o u l d be o b v i o u s t o Negro them a r e g a i n i n g a m e a s u r e o f h e i g h t e n e d through enrollment in "black and w h i t e students are devoting expertise i n some a r e a o f studies" -- the v a s t m a j o r i t y themselves specialization for beginning professional languishing s h e l t e r e d w o r k s h o p s w h i c h do l i t t l e the p o s t - c o l l e g e w o r l d . least w o u l d be a t r a g i c m i s t a k e college years them t o m e e t t h e v i g o r o u s that it to to allow of college. black enough them t o compete j o b s once t h e y l e a v e students pride of both the attainment in at -15- So, incompetence community rather than supporting - - which "black (including faculty g e t on w i t h m e e t i n g t h e r e a l the r i s e o f a new c u l t s t u d i e s 1 1 can o n l y a s s u r e - and s t u d e n t s , both black challenge of education The C h a l l e n g e this country. essential They, academic today: the place in an challenge leadership of too, Community also faces the business ought to refocus their sights t a s k o f p r o v i d i n g expanding o p p o r t u n i t i e s for on the full participa- t i o n b y N e g r o e s and o t h e r m i n o r i t y g r o u p s i n t h e m a i n s t r e a m o f economy. An i n c r e a s i n g number o f o u r l e a d i n g b u s i n e s s recognize the urgency of Unfortunately, however, sponsoring projects activities should society. to the Business A similar the and w h i t e ) p r e p a r a t i o n o f d i s a d v a n t a g e d young p e o p l e t o t a k e t h e i r o p e n and i n t e g r a t e d of -- this need and a r e r e s p o n d i n g some o f t h e same f i r m s or a l l o w i n g themselves - - w h i c h can o n l y serve to f o s t e r are the enterprises do accordingly. simultaneously t o be a s s o c i a t e d with racial divison and c o u l d be c i t e d , several examples separatism. While will illustrate numerous the instances point: A l e a d i n g h o t e l c h a i n announces t h a t i t w i l l j o i n w i t h l o c a l o w n e r s h i p t o l o c a t e a new h o t e l i n the g h e t t o , which w i l l serve a l s o as i t s h e a d q u a r t e r s f o r t r a i n i n g N e g r o e s i n hotel administration. An a u t o m o b i l e m a n u f a c t u r e r g i v e s a n e w - c a r f r a n c h i s e t o a Negro t o r e p l a c e a d e a l e r s h i p i n t h e g h e t t o p r e v i o u s l y owned by a w h i t e man. -16- A manufacturer of e l e c t r i c a l products establishes a small-scale plant in a g h e t t o , manned a l m o s t e n t i r e l y b y b l a c k workers; almost simultaneously i t l o c a t e s a much l a r g e r f a c i l i t y i n t h e s u b u r b s o f t h e same c i t y . One o f t h e l e a d i n g b a n k s i n a m a j o r c i t y r e f r a i n s from opening a branch i n a ghetto area, although i t recognizes t h a t the banki n g needs a r e n o t b e i n g met - - and t h e n l a t e r t h e same b a n k a s s i s t e d e f f o r t s t o e s t a b l i s h a s m a l l , b l a c k - o w n e d bank i n t h e area f o r w h i c h t h e o u t l o o k was l e s s p r o m i s i n g . Why, The a n s w e r is over b e t t e r one may a s k , clear: choices do I find efforts favoring participation a chance t o share i n i t s who a r e the city However, learning trainees in all send w h i t e household and many w o u l d f e e l separatism society. that giving an e v e n (including establishments a principal unit i n the h o t e l t o t h e new h o t e l when i t o f us c o u l d agree t h a t chain? is appliances to most o t h e r and b u s i n e s s e q u i p m e n t channels groups Since i n the same And why n o t p l a n to business? so f e w N e g r o e s g r o u p members among n e w - c a r d e a l e r s true w i t h respect local g r o u p members as opened f o r the presence of a better s h o u l d be c o n c e n t r a t e d h e r e . t h e g h e t t o ) , why n o t p l a c e m i n o r i t y and o t h e r m i n o r i t y The same i s favoring i n the ghetto represents o w n e r s h i p makes i t t o manage h o t e l s trainees All disturbing? one s h o u l d a l s o a s k why members o f m i n o r i t y f i r m owns many o t h e r h o t e l s but outside type i n an i n t e g r a t e d l o c a t i n g a new h o t e l s t e p w h i c h s h o u l d be a p p l a u d e d - - venture. this they r e p r e s e n t wrong choices Undoubtedly, people of is deplorable. through which major are d i s t r i b u t e d . Thus, steps - 1 7 - to correct the s i t u a t i o n was t h e t r a n s f e r ghetto a franchise I think not. into Vacancies occur this segment o f in dealerships so why d i d t h e company n o t c h o o s e t h a t r o u t e ? w h i t e man i n v o l v e d i n this hand, the automobile outside the (In fact, step i n the the Instead, direction s e p a r a t i s m and away f r o m an o p e n economy. L o c a t i n g an e l e c t r i c a l m a n u f a c t u r i n g p l a n t obviously expand j o b o p p o r t u n i t i e s But h e r e , also, a better have assured t h a t in the c a s e was r e l o c a t e d i n s u c h an a r e a . ) t h e c h o i c e t h e m a n u f a c t u r e r made p u s h e d us a n o t h e r of On t h e o t h e r f r o m a w h i t e man t o a b l a c k man i n t h e b e s t way t o d r a w N e g r o e s industry? ghetto, of are c e r t a i n l y m e r i t o r i o u s . t h e much l a r g e r meaningful, it suburban p l a n t . transportation. make h o u s i n g i n m o d e r a t e - i n c o m e available The company got a s i g n i f i c a n t Of c o u r s e , m i g h t have b e e n n e c e s s a r y o r o t h e r means o f the g h e t t o i n an a r e a w h i c h s o r e l y needs a l t e r n a t i v e was a v a i l a b l e . ghetto residents in for t o make s u c h it could the jobs opportunities c o u l d have worked the suburban p l a n t t o g h e t t o r e s i d e n t s who o b t a i n e d j o b s i n the The c o m m e r c i a l b a n k t h a t refrained a branch i n a ghetto them. t h e company t o p r o v i d e Even b e t t e r , areas near share o f will deliberately s e r v i c e s u n d o u b t e d l y was m o t i v a t e d by t h e v e r y b e s t to more latter a r e a t o meet t h e r e c o g n i z e d n e e d f o r buses from facility. opening banking intentions: it did want t o a g g r a v a t e r a c i a l t e n s i o n s by seeming t o f o r e c l o s e t h e o p p o r t u n i t i e s not for a g r o u p o f l o c a l b u s i n e s s m e n and p r o f e s s i o n a l s who l a t e r a n n o u n c e d p l a n s t o l a u n c h a b l a c k - o w n e d bank w h i c h s t i l l has n o t been e s t a b l i s h e d . But what about the -18- inconvenience who s t i l l i m p o s e d o n a g r e a t number o f r e s i d e n t s must my p e r s o n a l travel judgment, a considerable distance despite Thus, business l e t me r e p e a t , the i l l s further it it is equally separatists divisions Management O p p o r t u n i t i e s in basis, labor force of level. Americans); less the to help in strengthening t h o s e who w o u l d w i d e n suffering. interest We know t h a t , progress in April, figures), 685 t h o u s a n d , w e r e members o f m i n o r i t y were Negroes; that Nevertheless, opening o p p o r t u n i t i e s For example, f o r w h i c h we h a v e c o m p r e h e n s i v e had a t o t a l hopeful are effort they avoid I have a s p e c i a l the executive group employees. that to Banking the banks are making c o n s i d e r a b l e minority cent) crucial In itself. importance f r o m w h i c h we a r e a l r e a d y t o w h i c h t h e b a n k i n g community i s at of c r i t i c a l or encouraging As I m e n t i o n e d a b o v e , groups is which plague our urban s o c i e t y . the the r a c i a l minority f o r whom p r o s p e c t s i n o u r c o u n t r y make an e v e n g r e a t e r my p e r s o n a l o p i n i o n , the p o s i t i o n of but decided to a b l a c k group the a s s i s t a n c e g i v e n by the l a r g e bank leadership alleviate -- area to get banking services? the l o c a l banking market p r o v i d i n g needed b a n k i n g s e r v i c e s bright, the a f f e c t e d t h a t b a n k made t h e w r o n g c h o i c e when i t leave a s i z a b l e share o f of in groups. 17 t h o u s a n d w e r e S p a n i s h 6 thousand were O r i e n t a l s , in in the f o r members o n an of overall the r e c r u i t m e n t 1968 (the latest b a n k s w i t h 50 o r more o f whom 62 t h o u s a n d Among t h e l a t t e r , 38 (mainly Puerto Ricans and a b o u t extent (or of date employees 9 per thousand and M e x i c a n - 13 h u n d r e d w e r e Indians. -19- These f i g u r e s represented a substantial s i t u a t i o n was a f e w y e a r s ago, recorded i n the l a s t improvement o v e r what and a h a l f . year But the r e a l l y members o f m i n o r i t y appreciation of of further i n t e r e s t i n g question concerns groups a t trends and u n d o u b t e d l y the the managerial in this area, level. g a i n s have the progress experience of the s i t u a t i o n in their as I m e n t i o n e d a b o v e , Districts. t h e l a r g e b a n k s was r e p o r t e d , i n c l u d e d on t h e b l a c k - o w n e d banks, Puerto Ricans or Mexican-Americans. the b u t comments w e r e o r banks c o n t r o l l e d banks were c o v e r e d i n t h e i n f o r m a l canvas o f o u r t h e number v a r i e d c o n s i d e r a b l y another -- the Dallas own approximately cities, f r o m one F e d e r a l R e s e r v e D i s t r i c t f r o m a b o u t 3 o r 4 banks i n t h e M i n n e a p o l i s District informal only the also primarily largest by 175 and to t o 32 in District. I n s u m m a r i z i n g t h e R e s e r v e Bank r e p l i e s , the f o l l o w i n g emerges: Presidents I n most cases, On t h e w h o l e , of To o b t a i n a b e t t e r t h e F e d e r a l R e s e r v e Banks w e r e a s k e d t o s h a r e w i t h me t h e i r assessments o f been None o f t h e l a r g e banks had N e g r o e s s e r v i n g o n t h e i r boards o f d i r e c t o r s . There were a few of Spanish or O r i e n t a l descent. Several small banks ( m a i n l y e s t a b l i s h e d under i n t e r r a c i a l s p o n s o r s h i p ) had m i n o r i t y g r o u p members o n t h e i r boards. B u t on t h e w h o l e , o n l y a b o u t a d o z e n m i n o r i t y group d i r e c t o r s were i d e n t i f i e d . Even l e s s t h a n a dozen s e n i o r o f f i c e r s ( v i c e p r e s i d e n t s and above) who w e r e m i n o r i t y g r o u p members w e r e r e p o r t e d i n t h e l e a d i n g c o m m e r c i a l banks. picture -20- A s i z a b l e number o f j u n i o r o f f i c e r s ( a s s i s t a n t v i c e p r e s i d e n t s and b e l o w ) and a s u b s t a n t i a l l y l a r g e r number o f management t r a i n e e s w e r e r e p o r t e d among m i n o r i t y g r o u p e m p l o y e e s o f t h e banks c o v e r e d . The R e s e r v e Banks a l s o r e p o r t e d especially increase officer feel those located in principal level. However, c a n demand. higher salaries problem of reasons, t o some o t h e r finding into the large are a c t i v e l y their banks a t have n o t been e n c o u r a g i n g ; some t r a i n i n g , institution. to the they minority t h e y a r e l u r e d away b y Most o f the banks c i t e d a q u a l i f i e d person to begin w i t h . banks f e l t banks, trying the s a l a r i e s which " q u a l i f i e d 1 1 Even a f t e r among o t h e r s , training that progress Because o f in bringing t h e i r management r a n k s m u s t be t h r o u g h t h e i r the these minority management programs. I think t h e i r management cipal vehicles limit the r e s u l t s they cannot o f f e r people members cities, the m i n o r i t y group r e p r e s e n t a t i o n w i t h i n that groups t h a t most o f through all o f us w o u l d agree t h a t t r a i n i n g p r o g r a m s and i n t e r n a l for ranks. t h e y can t e l e s c o p e technical knowledge which a senior o f f i c e r in his officers head. there the time r e q u i r e d trainees also and j u n i o r Furthermore, brightest but promotions to master is pringroup obviously for even t h e l a r g e body must have n o t on as t h e t h e advancement o f N e g r o e s and o t h e r m i n o r i t y the o f f i c e r o n how f a s t fingertips t h e banks must r e l y only at the of his a -21- Banks and t h e U r b a n However, Challenge having admitted that t h e number o f m i n o r i t y members i n t h e t o p management p o s i t i o n s corporation) c a n n o t be e x p a n d e d i n s t a n t a n e o u s l y , t o s u g g e s t ways i n w h i c h t h e f r o n t more r e p r e s e n t a t i v e effort, i n banks of (or it i n any o t h e r is still t h e c o m m u n i t y as a w h o l e : boards of d i r e c t o r s . is possible w i t h o n l y a modest This is especially true of banks i n u r b a n areas where such a s i z a b l e p r o p o r t i o n o f group p o p u l a t i o n large r a n k s o f b a n k i n g c a n be made much t h e b a n k s c o u l d i n c l u d e N e g r o e s and o t h e r m i n o r i t y on t h e i r group g r o u p members the the leading minority located. As a r u l e , most bank d i r e c t o r s institutions) are n o t ownership of the banks' (particularly i n the i n c l u d e d on boards because t h e y have stock. largest substantial I n s t e a d , t h e y are i n c l u d e d because they r e p - r e s e n t l a r g e customers ( o r p o t e n t i a l customers) , have a w i d e n e t w o r k o f u s e f u l c o n t a c t s ( s o m e t i m e s p o l i t i c a l ) , o r h e l p t h e b a n k p r o j e c t a good image i n i t s community. Among n a t i o n a l b a n k s , a d i r e c t o r m u s t h a v e a t l e a s t a s p e c i f i e d minimum f i n a n c i a l i n t e r e s t ; f o r m o s t banks t h i s has b e e n s e t a t $ 1 , 0 0 0 . numerous c a s e s , particularly in individual h o l d i n g c o m p a n i e s , many d i r e c t o r s subscribing it is their as d i r e c t o r s N a t i o n a l banks that of they w i l l t h e banks a r e members of qualification share. by Moreover, h o l d such shares o n l y during involved. ( a n d s t a t e member b a n k s o f System) m u s t have a minimum o f t y p i c a l l y meet t h i s t o 10 s h a r e s w i t h a p a r v a l u e o f $100 p e r generally understood tenure banks t h a t In 5 and a maximum o f the Federal 25 d i r e c t o r s . Reserve However, -22- many b a n k s a l s o h a v e c a t e g o r i e s of "honorary11 or " a d v i s o r y " w h i c h a l l o w them t o exceed t h e s t a t u t o r y Thus, it is clear that even the l a r g e s t t h e i r boards of d i r e c t o r s the groups there representatives a director's segments o f is really among b u s i n e s s t o a bank i s d e r i v e d Moreover, involved at necessary f o r officers area, roots policies overall "qualified" contacts with to determine to guide As I m e n t i o n e d a b o v e , the best of participants in banking industry in partial spring. course to allowed i t s e l f follow role In that case, transfer $6 b i l l i o n compensation f o r i n assets to the burden of r a c i a l less junior i n the devel- i n urban affairs. t o be b o x e d i n t o an affairs the v a s t m a j o r i t y t h e c o n f e r e n c e v o t e d t o e n d o r s e t h e demand t h a t Negroes have b o r n e i n t h e p a s t . minority on t h e j u d g m e n t o f the banking i n d u s t r y ' s the i n d u s t r y last strengthen community. e m b a r r a s s i n g p o s i t i o n d u r i n g a c o n f e r e n c e o n b a n k s and u r b a n h e l d i n Chicago l a t e found o f b a n k management w o u l d make i t so h e a v i l y of important c a n be h a v i n g more s e a s o n e d r e p r e s e n t a t i v e s the top l e v e l all S i n c e a good d e a l from h i s on communities. numerous i n d i v i d u a l s in its t h e banks t o r e l y in trying opment o f their and p r o f e s s i o n a l men and women who c o u l d h e l p the banking i n d u s t r y ' s groups located i n f r o m among no need t o d e b a t e w h e t h e r the bank's market directors. b a n k s have l e e w a y t o p r o v i d e c a n be f o u n d among s u c h g r o u p s . value for voting broadly-based representation ( i n c l u d i n g m i n o r i t y groups) Furthermore, number s e t directors, the the black-owned discrimination While the leadership of the of banks which industry -23- finally banks rejected supported i t represented at that t h e demand i n m i d - A u g u s t , ( a n d many o f the conference) t h e banks w e r e w i l l i n g the i n i t i a l suggestion the l e a d i n g banks a c r o s s the n a t i o n were gave t h e i m p r e s s i o n t o numerous to negotiate p a t e n t l y u n r e a s o n a b l e demands o f that (and even g r a n t ) observers some o f t h o s e who a d v o c a t e r a c i a l the division and separatism. To a c o n s i d e r a b l e mistake of trainees allowing r e l a t i v e l y -- that junior e p i s o d e c a n be t r a c e d t o officers -- I am p e r s o n a l l y happen because o f their the assumption t h a t command o f have a s p e c i a l convinced t h a t the technical advantage i n Such an a s s u m p t i o n i s social and e c o n o m i c t h e banks p e r m i t t e d their black officers solutions obviously unwarranted. level to urban problems. A genuine understanding on a p r i o r m a s t e r y o f b a n k i n g i t s e l f . of expertise the business example, required is even g r e a t e r a bank p e r m i t t i n g j u n i o r officers speak f o r the i n s t i t u t i o n questions future of of urban a f f a i r s , the on v i t a l the handle have been a c t i v e : (even i f relating i n t e r n a t i o n a l m o n e t a r y system? an a r e a o f e v e n more c o m p l e x i t y , -- for and who c a n they are black) to foreign Yet, of urban anything, f o r e i g n t r a d e and i n v e s t m e n t visualize and t h e If t h a n t h a t needed t o i n f i e l d s w h e r e banks t r a d i t i o n a l l y i n the f i n a n c i n g of to finance) t h e r o l e w h i c h b a n k s c a n p l a y i n m e e t i n g t h e f i n a n c i a l needs o f areas must r e s t this (however a s p e c t s o f b a n k i n g and the shaping of the and e v e n management t o s p e a k f o r b a n k s i n an a r e a o f v i t a l importance. limited extent, i n the banks a c t u a l l y to exchange matter allowed -24- this t o happen a t the Chicago c o n f e r e n c e . o f f i c e r s were p r e s e n t , the record shows c l e a r l y t h e c o n f e r e n c e was d o m i n a t e d b y j u n i o r t i o n o f whom w e r e the banking i n d u s t r y , had t e n t a t i v e l y have g i v e n b l a c k j u n i o r debating publically) it officers committed i t s e l f officers the p a r t b a n k s and r e p r e s e n t a t i v e s it should play in a city (NBA). was b e i n g d e v e l o p e d , some o f i n the Southwest, this for a useful to j u n i o r a f f a i r s which the banks1 (ABA) i n shaping Earlier (or -- in i n large predominately under the j o i n t held undoubtedly exploration of officers But i t the banks1 top leadership on sponsorship Bankers the program after registered the o r i g i n a l plan instead. provided an experiences also s p o t l i g h t e d responsibilities the white However, s e p a r a t i s m was the banking i n d u s t r y , as f i n a l l y and i n the y e a r , and t h e N a t i o n a l endorsement o f i n g t o cope w i t h u r b a n p r o b l e m s . of delegating propor- trade i n urban a f f a i r s The C h i c a g o c o n f e r e n c e was s u b s t i t u t e d The c o n f e r e n c e opportunity role and s p e a k e r s w e r e b e i n g r e c r u i t e d . the key l e a d e r s was d r o p p e d . leading The p r o p o s a l was a c c e p t e d t e n t a t i v e l y , outspoken c r i t i c i s m of with a substantial o f Negro-owned banks h o l d a c o n f e r e n c e t h e American Bankers A s s o c i a t i o n Association at to a program which would an e v e n l a r g e r p r o p o s a l h a d b e e n made t h a t b l a c k o f f i c e r s of -- registration through i t s w o u l d h a v e done so o n a s e g r e g a t e d b a s i s . urban a f f a i r s , that bank black. Moreover, association, W h i l e a few s e n i o r relating should keep i n the to their in try- dangers urban own h a n d s . -25- At t h e same t i m e , officers icant course, I also recognize who a r e members o f m i n o r i t y contributions playing course of in helping i n urban a f f a i r s . for junior But, officers basis of technical Concluding i n my p e r s o n a l j u d g m e n t , is c a n s p e a k o u t on t h e o r on o t h e r b a n k i n g s u b j e c t s i n our minds I think it is v i t a l that all on financial -- on t h e g r o u p s make g e n u i n e e c o n o m i c p r o g r e s s . O n l y i n s u c h an e n v i r o n m e n t we a r e a l r e a d y p l a g u e d b y t o o many r a c i a l i n our d i v e r s e (perhaps u n w i t t i n g l y ) separatists o f us keep t h e u r g e n t need t o h e l p b r i n g about a t r u l y other minority are Remarks society. racial they best to concentrate and i n t e g r a t e d groups the signif- competence. I n the meantime, foremost junior g r o u p s may be a b l e t o make (black or white) -- some t h e banks s t r e n g t h e n t h e r o l e s b e c o m i n g a b l e b a n k e r s who e v e n t u a l l y aspects of urban a f f a i r s that population, divisions midsts. and Moreover, since and t e n s i o n s among we s h o u l d do n o t h i n g t o s t r e n g t h e n t h e hands o f i n our can Negroes open that helps t h e s m a l l bands of
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