Category Archives: Lifestyle

HBCU Money™ Histronomics: Frederick Douglass Letter to Ida B. Wells

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Dear Miss Wells:

Let me give you thanks for your faithful paper on the lynch abomination now generally practiced against colored people in the South. There has been no word equal to it in convincing power. I have spoken, but my word is feeble in comparison. You give us what you know and testify from actual knowledge. You have dealt with the facts with cool, painstaking fidelity and left those naked and uncontradicted facts to speak for themselves.

Brave woman! you have done your people and mine a service which can neither be weighed nor measured. If American conscience were only half alive, if the American church and clergy were only half christianized, if American moral sensibility were not hardened by persistent infliction of outrage and crime against colored people, a scream of horror, shame and indignation would rise to Heaven wherever your pamphlet shall be read.

But alas! even crime has power to reproduce itself and create conditions favorable to its own existence. It sometimes seems we are deserted by earth and Heaven–yet we must still think, speak and work, and trust in the power of a merciful God for final deliverance.

Very truly and gratefully yours,

FREDERICK DOUGLASS.
Cedar Hill, Anacostia, D.C., Oct. 25, 1892

Currencies Of The African Diaspora – Botswana

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Botswana has maintained one of the world’s highest economic growth rates since independence in 1966. However, economic growth was negative in 2009, with the industrial sector shrinking by 30%, after the global crisis reduced demand for Botswana’s diamonds. Although the economy recovered in 2010, GDP growth has again slowed. Through fiscal discipline and sound management, Botswana transformed itself from one of the poorest countries in the world to a middle-income country with a per capita GDP of $16,800 in 2012. Two major investment services rank Botswana as the best credit risk in Africa. Diamond mining has fueled much of the expansion and currently accounts for more than one-third of GDP, 70-80% of export earnings, and about one-third of the government’s revenues. Botswana’s heavy reliance on a single luxury export was a critical factor in the sharp economic contraction of 2009. Tourism, financial services, subsistence farming, and cattle raising are other key sectors. According to official government statistics, unemployment reached 17.8% in 2009, but unofficial estimates run much higher. The prevalence of HIV/AIDS is second highest in the world and threatens Botswana’s impressive economic gains. An expected leveling off in diamond production within the next two decades overshadows long-term prospects. A major international diamond company signed a 10-year deal with Botswana in 2012 to move its rough stone sorting and trading division from London to Gaborone by the end of 2013. The move may support Botswana’s downstream diamond industry.

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Botswana tourism destinations

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Source: Economy overview provided by CIA Factbook

HBCU Money™ Histronomics: Booker T. Washington’s Atlanta Compromise

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Mr. President and gentlemen of the Board of Directors and citizens. One third of the population of the South is of the Negro race. No enterprise seeking the material, civil, or moral welfare of this section can disregard this element of our population and reach the highest success. I must convey to you, Mr. President and Directors, and Secretaries and masses of my race, when I say that in no way have the value and manhood of the American Negro been more fittingly and generously recognized, than by the managers of this magnificent exposition at every stage of its progress. It is a recognition that will do more to cement the friendship of the two races than any occurrence since the dawn of our freedom. Not only this, but the opportunities here afforded will awaken among us a new era of industrial progress.

Ignorant and inexperienced, it is not strange that in the first years of our new life we began at the top instead of the bottom, that a seat in Congress or the state legislature was more sought than real estate or industrial skill, that the political convention of some teaching had more attraction than starting a dairy farm or a stockyard.

A ship lost at sea for many days suddenly sighted a friendly vessel. From the mast of the unfortunate vessel was seen a signal: “Water, water. We die of thirst.” The answer from the friendly vessel at once came back: “Cast down your bucket where you are.” A second time, the signal, “Water, send us water!” went up from the distressed vessel. And was answered: “Cast down your bucket where you are.” A third and fourth signal for water was answered: “Cast down your bucket where you are.” The captain of the distressed vessel, at last heeding the injunction, cast down his bucket and it came up full of fresh, sparkling water from the mouth of the Amazon River.

To those of my race who depend on bettering their condition in a foreign land, or who underestimate the importance of preservating friendly relations with the southern white man who is their next door neighbor, I would say: “Cast down your bucket where you are.” Cast it down, making friends in every manly way of the people of all races, by whom you are surrounded.

To those of the white race who look to the incoming of those of foreign birth and strange tongue and habits for the prosperity of the South, were I permitted, I would repeat what I have said to my own race: “Cast down your bucket where you are.” Cast it down among the eight millions of Negroes whose habits you know, whose fidelity and love you have tested in days when to have proved treacherous meant the ruin of your fireside. Cast down your bucket among these people who have without strikes and labor wars tilled your fields, cleared your forests, builded your railroads and cities, brought forth treasures from the bowels of the earth, just to make possible this magnificent representation of the progress of the South.

Currencies Of The African Diaspora – Benin

The economy of Benin remains underdeveloped and dependent on subsistence agriculture, cotton production, and regional trade. Growth in real output had averaged almost 4% before the global recession and it has returned to roughly that level in 2011-12. Inflation has subsided over the past several years. In order to raise growth, Benin plans to attract more foreign investment, place more emphasis on tourism, facilitate the development of new food processing systems and agricultural products, and encourage new information and communication technology. Specific projects to improve the business climate by reforms to the land tenure system, the commercial justice system, and the financial sector were included in Benin’s $307 million Millennium Challenge Account grant signed in February 2006. The 2001 privatization policy continues in telecommunications, water, electricity, and agriculture. The Paris Club and bilateral creditors have eased the external debt situation with Benin benefiting from a G-8 debt reduction announced in July 2005, while pressing for more rapid structural reforms. An insufficient electrical supply continues to adversely affect Benin’s economic growth though the government recently has taken steps to increase domestic power production. Private foreign direct investment is small, and foreign aid accounts for the majority of investment in infrastructure projects. Cotton, a key export, suffered from flooding in 2010-11, but high prices supported export earnings. The government agreed to a 25% increase in civil servant salaries in 2011, following a series of strikes, increasing pressure on the national budget. Benin has appealed for international assistance to mitigate piracy against commercial shipping in its territory.

Benin tourism destinations

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Source: Economy overview provided by CIA Factbook

Currencies Of The African Diaspora – Angola

Angola’s high growth rate in recent years was driven by high international prices for its oil. Angola became a member of OPEC in late 2006 and its current assigned a production quota of 1.65 million barrels a day (bbl/day). Oil production and its supporting activities contribute about 85% of GDP. Diamond exports contribute an additional 5%. Subsistence agriculture provides the main livelihood for most of the people, but half of the country’s food is still imported. Increased oil production supported growth averaging more than 17% per year from 2004 to 2008. A postwar reconstruction boom and resettlement of displaced persons has led to high rates of growth in construction and agriculture as well. Much of the country’s infrastructure is still damaged or undeveloped from the 27-year-long civil war. Land mines left from the war still mar the countryside, even though peace was established after the death of rebel leader Jonas SAVIMBI in February 2002. Since 2005, the government has used billions of dollars in credit lines from China, Brazil, Portugal, Germany, Spain, and the EU to rebuild Angola’s public infrastructure. The global recession that started in 2008 temporarily stalled economic growth. Lower prices for oil and diamonds during the global recession slowed GDP growth to 2.4% in 2009, and many construction projects stopped because Luanda accrued $9 billion in arrears to foreign construction companies when government revenue fell in 2008 and 2009. Angola abandoned its currency peg in 2009, and in November 2009 signed onto an IMF Stand-By Arrangement loan of $1.4 billion to rebuild international reserves. Consumer inflation declined from 325% in 2000 to about 10% in 2012. Higher oil prices have helped Angola turn a budget deficit of 8.6% of GDP in 2009 into an surplus of 12% of GDP in 2012. Corruption, especially in the extractive sectors, also is a major challenge.

Angola tourism destinations

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Source: Economy overview provided by CIA Factbook