, 1888-05-03
CHILDREN'S SAVINGS.
rhs FIRST SCHOOL IN AMERICA
10 ~eACH PRACTICAL ECONOMY.


tho - tom OF sc"ooi savings "~"HN ~
Explained by Catherine Baldwin--How
the Pennies Are Gathered Iu--rhs Re.
,..
The system OF school savings banks as
explained by Catherine Baldwin In Har.
per's Bazaar ia ono of the most practical
and sensible schemes that have been nut
forth for some time, 10 being really prob
able that the quality claimed for 1t, that
''school banks are to the lesson In thrift
what pen. ink and paper are to the lesson
In writing" IL in 10, No better lesson can
be taught a child In any branch than q
lesson in 'conseauences Childlen, and
for that matter children of q larger
growth, have to be taught the conso-
quences of this, that or the other folly be-
fore they learn to shun them, ana there ~
no reason why teaching them the conse'
quences OF wisdom should not be lesson
equally strong A child that learns that
pennies saved mean something great
deal better than STICKS OF candy ana penny
ices-perhaps whole week IN the coun-
try or even goat teain--is learning
valuable lesson, Ihe amount or money
saved may not be great, the sum may oe
spent whenever 1t amounts to ~ or 90
but the small capitalist Is learning the
valuable lesson OF the Buddhists-sel1
control, rs well rs thfllt, the hrst OBJECT,
Ihe nrst school In America 70 ADOPT
this savings bank plan did so In 1850, the
principal, woman, too, by the way, re-
cogni2ing how great power lay ben ind
30 apparently u simple beginning out
OF 4oo scholars AUS are uepositors, ana
they saved from March, 1850, 10 january,
ioS', Ss,oo@, ah a'eraGe Oh Fo'oI 10 o"Cn
chlld. On jan i, 1851 seven schools III
the United states adopted savings banks,
small beglhiing Wheh compared 10 lhe
number OF the same organizations in
Europe II Is true, but beginning never
theiess' france the oniy country WITH Il
natlonal system, mas, MISS Baidwln says,
s4,ouo OF THESE banks, whose savings
emounteu 10 nearly Ss, fUo,oou
SCHOOL BANKS METHODS
The modus opeiandi of a school bank is
ms follows, told in our authotity's own
words:
"Having arranged with sore savings
bank to receive deposits. the principal Of n
school gives notice to the several classes
that every Monday morning their teacher,
when calling the rel. will receive their
small savings from one cent up to fifty
cents). On making the first deposit "A
pupil is given a cnrd with his or her
name date and amount DEPOSITED re.
ceipted by the teacher: this card the pnpi
keeps presenting it every time n depnSit
is made, the card having da0es for the
whole school year.
"After the first few COLLECTIONS when.
like any other new drill, child,vn are swk.
ward. 'f,fteen minutes is sunirjant IN VA.
ceive n class Of fftv, The tnachar nm.
points some brinht mnil colIert,r sch,
takes the card and money from .ach cb,Id
the money. receipts the card and returns
it to the scholar The ordinary roll hook
seryes M n record hook Enr i,stnnca n
name is called Lame Smitb, SLs - 90
answer Three cents and three cents is
entered in the savings column opposite
Jane Smiths name II nothing has been
saved cross so indicates, and merely
attendance Is marked. The 'principa
who is the de facto treasurer. req U Tres a
special book for names of depositors and
amounts saved, ms the savings OF ali
classes are handed to him, and he sends
them each day to the savings bans, get,
ting q receipt for the whole amount
When pupil has saved twenty five cents
tor any other sum agreed on he is given u
bank book and becomes u regular CON
tributor-although interest is rarely paid
on very small sums--and until lie receives
book his name does not 90 on the
journal of the savings bank, but his
savings are kept TO the credit of the prin-
cipal in what Is called general fund .
These pupil bank books kept by the prin-
cipal are sent to the bank monthly to be
balanced. They can be taken home at
regular dates TO be shown to parents: and
during vacation, or when a pupil leaves,
he receives his book. Money can be
drawn out at any time, with the consent Of
parents or guardians, by procuring the
principals signature. After leaving
school permanently scholar Gun still
continue to use the school blank hook for
other savings"
THE INFLUENCE OF BARrs
.ynmnIcs ~ a cbiId'a rocorr,jn,r ,i'