Durham’s Historical Impact: BLACK WALL STREET

Three men began the economic building of black Durham: a minister with college training, a physician with professional training, and a barber who saved his money”- W.E.B. DuBois
In keeping with this month’s theme of “Civic Engagement/ Employment,” Aging Well Durham honors the spirit of community self-reliance and empowerment by highlighting Durham’s “Black Wall Street.”
Three trailblazing entrepreneurs defied the legalized discrimination of Jim Crow laws to create a vital place for Black businesses to flourish in Durham in 1906. John Merrick, the barbershop owner along with the physician, Dr. Aaron M. Moore, formed the business that would become the hub – North Carolina Mutual Life Insurance Company. (Dr. Moore was also the first Black physician to practice in Durham.) Merrick and Moore hired Charles Spaulding who became the Company’s general manager and president after Moore’s death.
Visionary and determined, the three positioned the Parrish Street neighborhood to become the economic hub for Durham’s Black community. Black Wall Street provided investment opportunities and small business loans to entrepreneurs who previously could neither apply for or receive a loan. Durham’s Black Wall Street meant Black people having access to financial independence through business and home ownership.
To read more about this example of community-led civic engagement and employment in Durham, here are some links: