Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1899-11-11
IOWA NEWSPAPERS.
A SCHOOL SAVINGS BANK.
[Keokuk Gate Clty.J

A SCHOOL SAVINGS BANK.
[Keokuk Gate City.l
The board Of education had some
very important matters under consid
Grafton at the regular monthly meeting
last night.
A resolution was passed putting the
penny savings system into operation in
the schools as soon as the necessary
blanks can be secured The effect Of
this wherever 1t has been tried is to
promote thrift among the children and
add greatly to the money saved in a
city. In Chicago the deposits this year
are double those of last year, and many
cities the size of Keokuk are finding
1t OF the greatest value.
The system contemplates that school
children may deposit money in small
amounts in savings banks and draw
interest on 1t, the whole machinery of
the transaction being made as simple
as possible consistent with perfect safe
ty and crosschecks on those who handle
the money. In detail 1t is as follows:
One day of each week to be desig-
mated the pupils of all the schools of the
city may, If they choose. leave with the
teachers any amount from one cent up
to larger amounts. Each pupil has
little passbook in which the teacher
enters the date and amount and her
initials. This is the pupils receipt in
compact form. These deposits are made
before school convenes in the morning.
In the forenoon the messenger of the
'State-Central Savings bank makes the
round of all the school rooms and on
each teachers desk finds blank filled
in with the names of all depositors of
that MORNING and the amount Deposit
ed by each. He checks this and signs
it in duplicate, leaving one copy for the
teacher and taking one to the bank.
1.-THE bank keeps set of books covering
the transaction and whenever a pupil
has reached a total deposit of SO the
account is transferred to the banks
savings department ledger and per
cent interest commences on the de-
post.
The cost Of the system to the school
district is practically nothing. The
bank furnishes most of the parapherna-
| liza and the board of education furnishes
| only the passbooks and some circulars
| and blanks to be sent to parents. These
/ will cost but a few dollars and pupils
| pay nothing.
| The circulars to parents will present
| the advantage of the plan to their
| children in teaching thrift and an ex-
PLANTATION of the plan. The application
blank which the pupil signs in the be-
/ ginning has a stub to be signed by the
| parent stating whether the pupil is to
be allowed to withdraw funds without
1 the consent of the parent. No pupil
need know what another is depositing
/ and each will have it's own business
| kept as private as the balances in bank
of men engaged in larger business in
Main street. The back of the passbook
will contain the following, headed
II This page Is for the children only.
i No one is too young to save. No one
lis too young to start a bank account.
i For children too young to attend
school the parents can open an account
at the bank, thus IN. child Will rave 9
good start before entering school.
Children, remember the time is com
4 ing when you will want to surprise
someone with a Christmas or birthday
4 present. Begin to save for that now
Some day, too, when you grow up YOU
will want to be business man lik'
your father That takes capital-mon
ey. Begin to save the money now.
:. Bring a deposit every week. If onl,
benny. Don't fail Habits are formed
by frequently doing a thing and Vol
can form the habit with penny a.
we'll as with dollar.
A child who deposits money in a say
ings bank every week during schoo
days will surely become a successful
and prosperous man or woman.