Characterizing "rather low intelligence of the Negro population" (not educational attainment, but "intelligence") as "likely correct" is shocking. But it's also not an uncommon perspective on HN. Lots of "The Bell Curve" truthers here.
I think educational attainment and intelligence are correlated, and understand the quote to be in relation to a specific group, time, and place (and not race as a category).
Individuals arent statistics, but environmental circumstances have profound impact on cognitive development and intelligence measures.