The Czechs and Slovaks in American Banking by Thomas Capek

April 19, 2010

PREFACE

ONE phase — a very important one — of the activities of the Czechs and Slovaks in this country has been wholly overlooked. Statistics have been compiled showing the number, size and location of the settlements of this racial group; of its churches, schools, lodge halls, fraternal organizations, newspapers and libraries. Up to the present time, however, no one has attempted a tabulation of banks in which the majority of the stock is held by investors of Czech and Slovak origin, or which are managed by officers of that nationality. Yet banks are an unerring barometer of Americanization attained by this or that racial group. Like the ownership of real estate, a bank in our mind is associated with the notions of stability, permanence. The foreigner who is but slightly affected by our American customs and ideals seldom buys bank stock or invests in real estate ; the seasonal immigrant, traveling back and forth, never does.

It will come as a surprise to most readers that Czech
and Slovak Building and Loan Associations of two cities — Chicago and Cleveland — wield assets amounting to nearly $20,060,000 — an indication of the inborn sense of thrift of that element of our population, is it not? What tends toward a greater love for the adopted country than owning a home here, and being able to enjoy the moral benefits of real home life?

In this Banker’s Directory the authors present material which, they beheve, will serve a double purpose. Community and Americanization workers will learn from it of a social aspect of our Czech and Slovak fellow-citizens little known to them. The statistical data which it contains will form a useful guide and reference for Chambers of Commerce, banking institutions, import and export merchants, and students of economics.

New York, June, 1920. The Authors

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