Book Excerpt Of The Week: “Black Wall Street” By: Hannibal Johnson

Black Wall Street H. Johnson“As segregation ended, white merchants broke the virtual lock on black dollars that the once insular African-American community held. Ultimately, the outflow of black dollars from the Greenwood District, first drip by drip, then in a steady stream, and finally in torrents, left a parched, barren wasteland- failing businesses, deserted streets, and vacant buildings.

The opening up of the Tulsa economy afforded African-Americans choice. At the same time, it eliminated self-sufficiency by forcing the smaller, often undercapitalized, sometimes marginal African-American businesses out of the market. By 1961, more than 90% of African-American income- some $12-15 million- was spent outside the Greenwood District.” -From, “Black Wall Street” By: Hannibal Johnson

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