Los Angeles herald., 1907-04-22
TEACH CHILDREN
TO SAVE PENNIES
EVEN THE BABIES BECOME
DEP0SlToRS
Bank at ST. Louis ls to Be Managed
by Youths-Patrons from Two
to Fourteen Years
Old
Special to The Herald.


slump in the pickle and pink candy
business over in the neighborhood of
Ninth and Carr streets, this city. The
pickle men who gives hours of time to
providing school children with big
round pickles don't sell as many as they
once did, and the pink candy merchants
sometimes have stock left on hand.
The Penny Savings bank, the real
baby bank of the United States, estab-
lished several months ago by the jew
ish Educational alliance, through its
superintendent Philip l.. Seman, who
originated the idea. is responsible.
Mrs. Max Hellman, her husban's sis
ter, Miss Florence Hellman, well known
in society, assisted by Miss Jeanette
Refs, manages the affairs of the bank.
AS soon as the bank has 1000 depositors
its officers and directors will be chosen
from among the children themselves,
and they will work under the direction
of those who now do all the planning.
The Penny Savings bank is chill
dren's bank for children. Its depositors
range in age from 2 years to Ia. When
they have reached the latter age they
graduate from the children's bank and
are encouraged to take out their money
and place it in one of the banks or
trust companies of the city or make
At present the bank has 1927 deposit
ors. Its banking hours are $3.50 to 5
o'clock on the afternoons of Tuesdays
and Thursdays. Deposits are made and
money drawn in the superintendent's
room at the Jewish Educational alli-
ance building.
The cash on hand is $263.50.
The first graduate of the bank is a
boy who has gone into business. He
nd
business, by means of which he sup
ports himself.
He attends school in school hours
and afterward goes about buying flour
bags, potato bags or any other kind of
bags he can find. These he afterward
sells. His is the largest single amount
kept at the bank. Each little depositor
has a purpose for which he or she
saves.
One little fellow, who is a good mu-
sician, as Is his father, is saving his
money in order that he may have a
vacation in the country. He is not
strong and he will be unable to con-
tinue his musical education unless he
gains strength. His father is pleased
with his idea and when school closes
the little fellow will go to a farm and
enjoy himself just like any other gen.
tleman who has a bank account.
It's the style to have bank account
among the children of that neighbor
hood. AS to the much-laughed-at
financial knowledge of my sex 1 am
pleased to say that the girl depositors
outnumber the boys. In the beginning
the girls alone made the bank possible.
The boys have found out how good 1t
is and are bringing their savings regu-
larly.
Know What Interest Is
Banking terms are becoming familiar
to the children. A little girl came In
with dime to deposit and Miss Refs,
who takes great interest in the children,
asked: Where did you get the dime?"
Saved cents, lent it to mamma,
and when she paid me she gave me
cents extra. That's interest"
One little girl came in and asked to
make a withdrawal shortly before
Easter. The children are always ques-
toned about their intentions in order
that they may net learn to save small
amounts merely to squander larger
ones. Amounts larger than a dime
may not be withdrawn without the
consent of parents.
In reply to questioning she said:
Its going to be holiday. / want to
to buy mamma present"
Another whispered to Miss Refs:
Were going to a wedding. I want to
buy my own things. 1 don't want that
papa and mamma should have all the
expenses"
Mr.. Seaman says the children find
just as much fun in saving money and
depositing it for future use as they
once did in spending 1t for much loved
pickles and candy.
The lesson they learn in saving goes
home to their parents and some of
Sfn ho MI ntc nF
their own in imitation of their chill
dren. Others give their children nickels
where they once gave them cents,
knowing that the money will be saved.
One Beautiful Incident
One of the sad yet beautiful incidents
of the Penny bank happened when an
accident caused the father of family
to go for weeks without work. The
funds became low and there was need
of food. The little daughter had $1S7
in the children's bank.
"That's for you, papa" she said when
she knew that the family needed it.
With her father she went to the bank
and happily drew out all her money
that her father might be helped.
Many of the girls are saving their
money for their graduation dresses.
Some Of them will finish the grammar
schools IN year or so, ana III tney
do without childish pleasures now
their parents will not have to go to ex-
ira expense for clothing at that time.
At least eight nationalities are repre-
sented among the depositors. The Ital-
ians are among the most saving. Since
the Jewish Educational alliance makes
no distinction as to race or religion in
it's work. number Of the children who
attend the different clubs and societies
are of Irish parentage.
A card system has been established
so that each depostor may know each
day just what his balance is Stamps
are used in keeping the individual
books, the denomination ranging from
1 to 25 cents.
Count Their Stamps
One little boy, who does not look old
enough to go to school, carefully counts
over his stamps each time that he
brings in his book. Children who leave
their money in the bank for six months
are paid interest and TO encourage
them to do so the interest is computed
on the amount In their bank at the end
of six months, the cent that was de-
posted one month before earning it's
Ill