The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1891-05-18
SAVINGS.

year Sl,l33,OuO worth were colheo, yet
there is q great scarcity in all the trade
centers. By some their disappearance
Is attributed to the little pocket savings
banks that have come in vogue. These
portable banks are SO contrived that
they cannot be opened until they con-
tam fifty dimes, and the theory is that
the process Of accumulation is going on
in millions of pockets all over the Il
try. If this is a true explanation OF it,
the little pocket cylinder is a great
economic factor. If some system could
be devised by which the acoumulations
from this source could pass untouched
into the savings banks, it would be a
great benefit
There is no doubt but that the Amer
lean people, as population presses and
wages decline, are arousing to the i'm
portance of practicing greater economy
and they no longer despise the small
savings. The establishment here in
Helena of another strong savings bank
is one Of many signs OF the times. Sim
liar institutions are being opened in
other cities and all do a successful bust
ness.
The agitation for postal savings banks
is increasing every year and the post
master general has just issued an elab-
crate report Of seventy-two pages on the
subject, including a draft of a bill which
provides for the issue by the govern
mont Of postal savings bank stamps in
denominations ranging from ten cents
to one dollar. A card is to be issued, on
which these stamps shall be affixed, and
when4twenty dollars worth Of stamps
are acquired the depositor is to get a
certificate bearing "a per cent interest.
Much objection has been urged to
comforting increased power upon the
federal government and to further COM
plicating the already complex machinery
of state, and it may be some time before
the postal bank is a reality. Meantime
the popular appreciation Of the import
ance of the small saving grows, and in
New York city such practical men as
Abram s. Hewitt, ex- Secretary Fairchild,
G. G. Beaman, and other financiers, have
filed a public want by establishing the
Penny Prevalent fund, whose operations
are interestingly described in the New
York Sun.
It was the design Of the organization to
the saving of small sums
among it's proteges by providing a place
Of deposit for even SO small an amount
as one, two and five cents, and stations
were established at the ten different
branch Offices of the society for carrying
out the plan.
So popular did the work become that
outside organizations were allowed to
come in from the churches, the missions,
the industrial schools, and the working
girls clubs, until there are now 1913 sta
tions Of deposit, 1909 depositors, and
$lo,464.65 on deposit in the different sta
tions. There are no hired clerks il
these stations, the work all being done
by voluntary charity. The depositors
are quite fairly divided now between
children and grown people, and, though
it is the desire of the society that all ac
counts Of So shall be transferred to tn
savings banks, many poor people refus
to take out their money.
The plan of the work resembles tina
SO long practiced in England; l, :, 5, 1C
25 and so cent and 81 stamps are sol
to the depositors, pasted in the littl
book given to zach person, aud remain
the guarantee of the amount due unit
it is needed and drawn out again. Whe
S. or $40 accumulates the depositors al
helped to open an account in a saving
bank, and the United States and Yves
Side Savings banks, New York, ha,
placed the stamps on sale at II of the
windows, where sums of one cent up Wi
DO received, and as soon as one dollar
accumulated the depositor will receive
regular passbook. This work necess
tates the addition of only one clerk, al
it is hoped that othor banks will tai
it up.
The Sun gives many interesting illu
trations of the working of this instit'
ton. One poor woman succeeded
saving about so in this way, and Wit
her husband deserted her a short Tin
e she was able to start lodgings wi
the fund.
A little girl whose father is very
temperate meets him every pay day b
fore he reaches a saloon, and coaxes
the money she can from him. This S
divides among her little brothers a
sisters, and all is placed IN deposit. \
long ago the father, through intemp'
ance was discharged from his work, a
the money thus accumulated by t
children paid the rent until a new 81
alton could be found.
Another little girl has managed to 8;
enough in pennies and nickels to I
for having her fathers grave put in
Ger.
The working girls clubs are some
the largest contributors, n club all
having raised $500 in the last year. NJ,
of tie money is drawn out at Christn
and during the summer vacations,
the purpose of the society is only
save for some such need and not elm
to hoard up money in a misery mann
Such institutions could easily be
tablished in every city in the coun