Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-11-25
SCHOOL SAVINGS BANK
Principal Riordan's Object
Lesson in Frugality.
PUPILS AS DEPOSITORS
LITTLE GIRLS SERVE AS TELLERS
AND BooKKEEPERs.
Institution Conducted on Strict Bust
ness Principles-Basis Of Future
Financial Stability.

| rooms, great vaults of steel or costly
houses in which to transact the business of
| the concerns. AS great books have been
written in garrets by thinly clad and hun
| CRY authors. whose labor was performed
| on rough board table, so a corner of a
room in the Greenleaf Public School build
ing, with small pretensions to elegance, Is
| producing beneficial results, the outcome Of
which cannot be foreseen.
| Four years ago Principal Raymond Rior-
| dan determined to add another practical
object lesson Of life's experiences to those
| he had already developed and he started a
| bank 1t was to teach the children the
| nature of such an institution and the bene-
| fits to be derived from the regular saving
of money. 1t was to demonstrate to them
the truth of the homely saying: "If you
| take of the pennies the dollars will
| take care of themselves"
| Principal Riordan determined that the
| bank should be conducted by the children
| The office fitted up by boys and girls
| who had received manual training. The
| woodwork was constructed by an embryo
| carpenter and latticework of iron strips
was made by another boy. But the orna-
mental gFillwork, placed in the center Of
| the partition that shut off the counting
room in a small corner, was contrived by
| girl and gave evidence of the ingenuity Of a
| trained mechanic.
Books Printed by the Pupils.
Bank books were needed, and in order
| that additional interest should be taken in
| every branch of the enterprise Mr.. Riordan
| had them printed by the children. The
ledger was about the only thing In the
| establishment that was bought outright,
| but its use was confined to the pupils.
| During the last three years the aggregate
| Of the deposits in the bank amounted to
1 o,,1 CIV thn oar,Nn Sc he
| present school year about s160 has been
| put in safe keeping in small amounts. Not
| only the scholars Of the Greenleaf building,
| but former pupils who still live in the
| neighborhood. are allowed to deposit, and SO
| continue the habit they formed in earlier
| years The deposits usually amount to
| from two to twenty-five cents. and an &C
| count may be opened with penny.
| Each depositor has book containing de-
| posit slips and checks, each with a stub
| attached for keeping the account in the
| book. When he wishes to place money in
| the bank the depositor makes out his slip
| and leaving 1t in the book, hands 1t to
| the teller. The teller removes the slip and
makes a duplicate entry on the stub. At the
end Of the day the bookkeeper makes en-
| tries of all the deposits In permanent
over to the principal for safe keeping. The
| money can be drawn from the bank as 1t
| may be needed.
Mr. Riordan's Views.
IT fnd," said Mr.. Riordan. in discussing
| the system with Star reporter, that IL
| the children know they can get the money
| at any time they are more apt to leave It
| In the bank than would be the case II they
were obliged to take 1t at stated time or to
| give notice in advance. II they were al
lowed to take 1t out only Saturday even
| ings many of them would think they might
| want the money during the week and would
| take It In order to make sure they would
| have 1t. Knowing they can get it at any
time, they leave 1t in. and the anticipated
| emergency may not arrive"
| At the end of each month a statement Of
their financial status Is made to the parents
| of the children.
| People who have visited the school and
| have seen the eager faces of the children
| as they stand In line to make their deposits
| often ask how they get the money they ac-
| cumulate. The deposits are made by both
| boys and girls. Many of the boys sell news
papers. and every morning they stand up in
line waiting their turn to deposit their prof
| its, keeping out only enough to make their
purchases Of papers the next day Some of
| the boys do chores for their neighbors in
| the evening or clean out yards, split wood
| or perform some one of the hundred useful
acts that make 1t possible, for boy to earn
| few nickels.
One boy of the school works at the fish
| wharf every Saturday and gets fifty cents
| for his days labor He also works there
every evening, and for which he receives
half of his earnings to his mother and the
other half he puts in the bank. That may
| sound like stock story in one of the books
for good little boys, but 1t is a fact In this
| case. That boy stands well in his school,
and great things are expected OF him, as he
| has shown the essential elements of success
in life.
The money that is deposited by the girls
Is made also by work done out Of school
| hours. They do all sorts Of little tasks In
housework, and the pay they get goes into
| the bank.
Deposits Chiefly Earnings.
Some of the money brought to the school
Is given TO the children by their parents to
be deposited, but the greater portion of It Is
earned by honest labor. One boy gets five
cents day for practicing on the piano.
His mother wants him to learn to perform
on that instrument, and the boy can only be
induced to do the hard practice necessary
by money incentive. But every morning
he brings five cents to the school, and he Is
building up an account which by and by
will be drawn on in order to buy some use
full article.
While Mr.. Riordan Is teaching the children
| the advantage Of saving pennies, he does
not wish them to become 'stingy." 1t Is not
that they are not to spend money, but that
| they are to spend their money to the best
advantage, which he seeks to have them
understand.
I'VE have a clearing day before Christ
mas. he said today, "and all the children
get the money they have saved. That al
| lows them to buy Christmas presents with
the money. 1t has been my thought that
they could do nothing better than that with
their savings"
Again at the close of the school year there
Is another clearing day. But throughout
the year the boys and girls now and then
take out money. Some of them save their
pennies In order to be able to purchase some