Summary#1 - Black American business after almost three decades of expansion was hard bit by the Great Depression Throughout the 1930s the high

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Black American business after almost three decades of expansion was hard bit by the Great Depression. Throughout the 1930s the high unemployment rate of blacks, already with low incomes, had a devastating impact on black business, which depended almost entirely on black consumers. By 1935 about 25 percent of blacks were on relief. In Virginia the relief rate was 81.3 percent. In the nation’s 15 cities with the largest black populations the effect of growing black unemployment on black business from 1929 to 1935 can be seen in declining retail sales. New York City was an exception to this trend with only 11.2 percent of employable blacks on relief and an increase of almost $5000000 in black retail sales from 1929 to 1935. But in Atlanta where 65.7 percent of blacks were on relief there was a decline in black retail sales from over $1151850 in 1929 to $694000 in 1935. The rate of decline in retail sales in other cities also underscores the extent to which black unemployment during the depression resulted in a drastic reduction in income for black store owners. The most ambitious cooperatives in the country up to this time was the colored merchants’ association a voluntary chain of black groceries founded in 1928 by A.C. Brown in Montgomery, Alabama. Its purpose was to reduce the prating costs of black retail merchants through cooperative buying. Under the leadership of Albon Holsey NNBL secretary the CMA became a national organization that encouraged black grocers to unite in chain of stores. AMA stores were organized in Montgomery Birmingham, and Winston Salem, North Carolina. From 1929-1935 black store had become CMA members. Eventually
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This note was uploaded on 12/03/2011 for the course HISTORY 322D taught by Professor Hunt during the Fall '11 term at University of Texas at Austin.

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Summary#1 - Black American business after almost three decades of expansion was hard bit by the Great Depression Throughout the 1930s the high

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