A Rationale for the Protest Against Banks Doing Business with South Africa

by George M. Houser, American Committee on Africa,
New York, New York, United States
Undated, about November 1966
Publisher: American Committee on Africa
7 pages
Type: Report
Coverage in Africa: South Africa
Coverage outside Africa: United States
Language: English
Withdrawal of accounts from banks that lend to South Africa is one of the few ways individuals or organizations can directly protest economic support for apartheid by U.S. financial institutions. The report calls attention to First National City and Chase Manhattan Banks because they are involved in a consortium that has provided a revolving fund of $40 million upon which the South African government can draw, they have loaned funds to South Africa independent of the consortium, and they are the only two U.S. banks that have branches in South Africa. • Policy of Engagement • Disengagement Policy • 1. The Moral Argument • 2. The Effectiveness Argument • 3. The Prestige Argument • 4. The Non-Necessary Argument • Personal Disengagement [Note on date: The report cites an October 22, 1966 New York Times article and was published before December 9 (see page 4).]
Used by permission Africa Action (successor to the American Committee on Africa).
Collection: George M. Houser (Africa collection), Michigan State University Libraries Special Collections