Negro banks, as a rule, have failed because the people, taught that their own pioneers in business cannot function in this sphere, withdrew their deposits.

E. B. Grimke did not welcome Woodson's ideas.

A founder of Journal of Negro History Woodson has been cited as the father of black history. Carter Godwin Woodson (December 19 1875 – April 3 1950) was an African-American historian author journalist and the founder of the Association for the Study of African American Life and History. Woodson was one of the first scholars to study African-American history.