The A.F. of L. and the “New Radicalism”

Archive Report

  • The announcement that John L. Lewis, president of the United Mine Workers, will head a new $1,000,000 labor bank to be opened at Indianapolis, coming on the heels of the opening of the sixteenth labor bank in this country, gives a new turn to the labor banking movement which heretofore has received little support from the “fighting” leaders of organized, labor.
  • The names of the existing labor banks, their location, the organizations behind them, the dates on which they were opened, and their approximate resources are given in the following table:
    Washington, D. C. Mount Vernon Savings BankMay 15,'20$2,969,456
    International Association of Machinists
    Cleveland, O-B. L. E. Cooperative Nat'l BankNov. 1,'2024,738,972
    Brotherhood of Locomotive Engineers
    Tucson, Ariz.-Cooperative Bank & Trust Co.May 31,'21400,000
    Local unions and farmers' organizations
    Hammond, Ind.-People's Cooperative State BankOct. ...
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