The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1902-12-26
SCHOOL SAVINGS BANK
The Benefits That Will Accrue to
School Children by Its Estab-
lishment.
lishlnent

this city has been discussing the
establishment OF a school savings
bank and interest the children of the
city in becoming patrons Of it.
There have been some Investigations
made along that line by correspond
ence with places where it is in vogue.
The following letter was received
from Mrs. j. Jones, jr., of Vermillion,
where the savings bank is in opera
ton. Mrs. Jones gives it a high
endorsement IN the communication
to the W. G. T. o., which is printed
in full below:
The description of the School Saw
iings Banks and their resulting good
in our schools is not a difficult task.
Most people know how to earn
money better than they know how
to save. 1t is not 50 much the lack
of ability to earn as it is the lack
of wisdom in spending wisely that
occasions poverty. If the paupers Of
our communities had only been in
structed in practical economy when
young, the most of them would not
have become public leeches. The
difficulty Of teaching thrift to men
and women who are ignorant of its
first essentials is great. But child
rem are daily impressed with the
habit Of economy as with arithmetic
or geography.
The School Savings Bank has done
a great work in this matter. The
little bank book taken home by the
child greatly interests the family.
Sensible parents frequently lie IN
less ons Of frugality from their child
rem. TO bring about these conditions
requires the co operation of the
school board and the teachers, the
parent, the pupil, and a bank. 1t
teachers work and greatly her re-
sponsibility. BY %instructing child
rem in economy and encouraging
them to wisely save their small earn
ings, we prevent them in many cas-
es in forming worse than useless
habits. We train and purify their
appetites unawares. ~Unwholesome
Sweets, chewing gum and cigarettes,
etc. will have little temptation to a
boy or girl who wants to have a good
bank account.
The collections take place in our
schools once a week, on Monday norm
ings before the lessons Of the day
are taken up. The teacher has a roll
book especially prepared to record
each child's deposit. Each pupil
who has money to deposit steps up
to the teachers desk with this money
and his little bank book. The
teacher verifies the amount, places
it to his credit in her roll book, makes
the same record upon the child's de-
posit card and indicates the amount
credited to each pupil on her de-
posit slip. This with all the money
collected that day is put into an en-
velope which, with the little bank
books, is handed to the s%uperinten-
dent who makes his rounds each
Monday afternoon and who deposits
the money in the bank to the credit
of each child. The bank in turn
no matter. how small his deposit.
Perfect freedom SO far as the teacher,
, superintendent, or banker is con-
cerned, is extended to each child in
withdrawing his money, but he is
encouraged in every reasonable way
) to let the money remain in the bank.
AS soon as the child has the sun Of
one dollar deposited he draws in
JereSt at five per cent the same as
the business man who may have a
, thousand dollars to his credit. And
now from the beginning Of our SyS-
J TEN about 260 children have deposit
| ed some money. In the little more
than two years that the system has
, been in operation in our schools the
children have deposited nearly $1,000
and after all the Withdrawals. there
e is in the bank to day to their credit
e nearly $500, which, we think, is a
pretty large argument in favor OF
J the system and the teaching of
ECONOMY and thrift.
We have had some interesting
| special cases during this time. AL
!. together it is not the children of the
s~o-called wealthy parents that are
i most regular and industrious in Sc
curing these little deposits, but we
have many children OF INDECENT par
: ents who have a nice little deposit at
= the bank. while the parents them
y selves had never thought before Of
G such a thing as a surplus. Last
spring one little boy OF eleven sum
mers had to his credit more thar
$27, while another had Over $50,
q One boy a year ago at the close OF the
d summer vacation brought in $l6, big
n IOulu SllFeI uOltdlS, dc LID odfNlSS
:. for the summer months. The most
d interesting case, however, who, witt
out the help of a single friend o.
e parent. earned his own living, in
n cluding his board and clothing, pass
ed through three years Of our schoo
work in less than two, and just be
fore graduation had to his credit ir
the bank over $50 Of his own ano
. well earned money. One objection
:, to this system may be urged: tina
children grow miserly. Many in
h stances have been given US where
e children have responded only to TIN
, call for help in times of suffering
a One of their greatest joys Of life i
the SENSE of independence, the pos
"a session Of some thing we may cal
n our own.
d Thrift is the Ian tern that will
light the way to comfort and sue
y cess. Let US. give it to our childerl
% for the greatest and broadcast charit.
y is that, which helps others to he'll
themselves.