The Hartford herald. [volume] (Hartford, Ky.) 1875-1926, 1907-03-20
A DOLLAR A WEEK.
How You Can Make 1t Grow
and Double Up if Care
fully Used.

According to the annual report of
/ the New York savings banks the num-
Der of depositols is now 2.753,295, and
the total of their deposits is over ST.
400 900 ,000,an amount greater than the
/ bonded debt of the United States.
These depositors, who outnumber
the inhabitants of Manhattan. Island,
are to be commended for their wisdom
/ If all men of small means were to fol-
low their example, the community as
! a whole would be much better off.
| There was not one savings bank fail
ure in the past year. There is not a
single savings bank now whose report
/ Is not credtable to its management
and whose solvency is not beyond
question.
In these days of get-rlch-quick
schemes, of mining stocks of specula-
ton in bucket-shops, poolrooms, on
the curb and in the Stock Exchange,
1t is most timely to turn to the saw
ings banks and to point out the super
iority to every man of small earn
ings and limited means of depositing
definite surplus regularly at inter-
est.
For a rich man to speculate is one
thing. He can afford to lose some
money. He has time for personal in
vestigation of the risk and he has the
power to enforce his legal rights. He
may win or he may lose, but in eth
err case the transfer of wealth Is not
a vital matter.
To all the men who work for wages
or on salaries, their only hope for q
peaceful old age and for a life free
from racking money cares is to pro-
vide beforehand for the future. They
should take no risk. When they
speculate they stake their family
future and their own peace of mind
against a few dollars. Even were the
chances equal-and in the case of 8
small man the odds are always again:
him-the risk which he takes is vast
ly disproportionate to any possible
gain.
Few men ever heard of progressive
compound interest and still fewer
know what it does. One dollar de-
posted in a savings bank which pays
4 per cent. will amount to 1919 in e
years. This is simple compound in
terest. But how many men know thai
if they deposit 81 every year, the val
Tie in 20 years will not be $2.19 but
$3O97?
Any man or woman who is earning
wages at all can save 81 week Thai
money deposited in a savings bank TO
20 years will amount to $1,612. A de-
post of So a week will amount to owe
$4,000 The annual interest on thi:
at per cent. would be 1920.
Thus the man who deposits 50
week in savings bank can, after q
years, draw out So a week and still
leave to his wife and children at his
death all the money that he deposit
ed and more than half as much more
There is no paradox or catch in this
1t is plain, simple mathematical
statement of what any savings bank
will do.
Every wife should read these fig
ures and go over them for herself
They are accurate. The only neces-
sity is to make the deposits regular
". If. instead of disseminating the
weekly deposits at 20 years they are
continued for 10 years more. every
dollar a week will have become $5S.3S
and the $52 a year will have become
over$3, 900 For every dollar which haC
been deposited 81 a week can then be
drawn out without impairing the prin
cipal, which has been doubled.
1t takes time to make money this
way, but the result is certain. There
is no secret about it, no mystery, nc
allurement, no dazzling speculation
All that it requires is industry and a
little self-denial every week. 1t pays
better than any gold or copper mine
than any poolroom or bucket-shop.
A Prayer for Ability.