All the other banks that belonged to this clearinghouse were given aid and survived the Great Depression.28 W. E. B. Du Bois noted that the bankers’ association “could have saved the bank and saved it easily without loss or prospect of loss. Yet the Binga Bank was allowed to fail because owners and masters of the credit facilities of the nation did not care to save it. Binga was not the kind of man they wanted to succeed.”29 On July 31, 1930, Illinois bank auditors closed Binga’s bank, and his depositors lost most of their savings.30
