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An 1865 South Carolina law declared that “no person of color shall pursue or practice the art, trade, or business of an artisan mechanic or shopkeeper, or any other trade, employment or business … on his own account and for his own benefit until he shall have obtained a license which shall be good for one year only.”56 One black veteran remarked of these laws, “If you call this Freedom, what do you call Slavery?”
The Color of Money: Black Banks and the Racial Wealth Gap
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