Of COURSE this party of history effects racism today! We do not exist in a bubble, human beings and our lives are an intricate web of everything that has led up to our existance. I benefit from my anglo history and the fact that my ancestors were even allowed to "pull themselves up by their bootstraps." Unfortunately, people of color continue to feel the effects of a history of oppression. Not only are there systematic injustices, there is an injustice of mindset. We are influenced by the beliefs of our parents - especially if we don't actively work to change. White people's presumed supperiority gets passed down each generation even if it is not spoken.
Additionally, I am continuously appalled that these parts of history are completely left out of education (at least in my predominately white school). America's nastier side needs to be spoken of and learned from in order to have any hope of becoming better.