The daily morning journal and courier., 1907-03-14
A DOLLAR A WEEK.
How to Make It Grow and Double Up
 If Carefully Used.

If Carefully Used.
 According to the annual report of the New York savings banks the num- Der of depositors is now 2,75S,295, and the total of their deposits is over $1, ,OOO, 900, an amount greater than the bounded debt of the United States.
 These depositors, who outnumber the inhabitants of Manhattan Island, are to be commended for their wis dom. If men of small means were to follow their example, the community as whole would be much better off. There was not one savings bank failure in the past year. There is not a single savings bank now whose re- port is not creditable to it's manage .nent and whose solvency is not be- yond question.
 In these days of get-rich- quick schemes, of mining stocks, of specula- tion in bucket shops, poolrooms, on the curb and in the stock exchange, it is most timely to turn to the sav- ings banks and to point out the super iority to every man of small earnings and limited means of depositing a de- posting definite surplus regularly at interest.
 For rich man to speculate Is one thing. He can afford to lose some money. He has time for personal investigation of the risk and he has the power to enforce his legal rights. He may win or he may lose, but in either case the transfer of wealth is not vital matter.
 To all the men who work for wages or on salaries their only hope for a peaceful old age and for life free from racking money cares is to pro- vide beforehand for the future. They should take no risk. When they specu- late they stake their family's future and their own peace of mind against a few dollars. Even were the chances equal-and in the case of a small man the odds are always against him-the risk which he takes is vastly dispro- portionate to any possible gain.
 Few men ever heard of progressive compound interest and still fewer know what it does. One dollar deposit- ed in a savings bank which pays 4 per cent. will amount to $2.19 in twenty years. This is simple compound inter- est. But how many men know that if they deposit S1. every year, the value In twenty years will not be $2,19, but $3O.97?
 Any man or woman who is earning wages at all can save $1. week, That money deposited in a savings bank for twenty years will amount to $1,612. A deposit of $5 week will amount to over $S,000 The annual interest on this at per cent. would be $s2O
 Thus the man who deposits $5. week in a savings bank can after twenty years draw out $6 week and still leave to his wife and children at his death all the money that he de- posted and more than half as much more. There is no paradox or catch in this. It is plain, simple mathemati- cal statement of what any savings bank will do.
 Every wife should read these figures and go over them for herself. They are accurate. The only necessity is to make the deposits regularly If, in- stead of discontlnuing the weekly de- posits at twenty years, they are con- tinued for ten years more, every dol lar a week will have become $5S.3S and the $52 year will have become over $3,OO0. For every dollar which has been deposited two dollars week can then be drawn out without impairing the principal, which has been doubled.
 It takes time to make money this way. but the result is certain. There is no secret about it, no mystery, no allurement, no dazzling speculation. All that is requires is industry and little self-denial every week. It pays better than any gold or copper mine, than any poolroom or bucket-shop.- New York Evening World.