Before watching this film and certainly before judging it, there are things you should bear in mind. First, the quality of the actual celluloid leaves much to be desired, and the film jumps in places. Secondly, although by 1935 blacks had already made an enormous impact on American popular culture, this was primarily through music. Oscar Micheaux, who made this, was a rarity, so although by 2015 standards this low budget monochrome leaves much to be desired, it was not a bad effort for the son of a slave, even if he had been making films for more than a decade.
Yes, the script is a bit wooden, and the extended absurd cameo at the beginning about the book salesman is superfluously irrelevant and then some, but this was based on Micheaux's own experience. The film itself is a thinly veiled reworking of the murder of Mary Phagan by Leo Frank. Although there have been repeated attempts over the past hundred years to absolve Frank of this crime and put the blame on his Negro sidekick, the complete documentation from the case has now been placed on-line, and it is difficult to conclude otherwise than that fanciful as Jim Conley's story may sound, he was telling the truth.
That being said, certain agenda-driven special interest groups continue to beat the drum of anti-Semitism, with the absurd implication that in 1913 a low class Negro was higher up the food chain than a white, college educated businessman. Those same mischief-makers were very active when this film was made, so it is possible that the twist in the end of the story was formulated by Micheaux to avoid problems with distribution.