The Idaho Republican. [volume] (Blackfoot, Idaho) 1904-1932, 1908-03-13
YOUR SAVINGS.
CONTINUED from page ID

The feuuy FTONiucHI ruhu. ~ 10
philanthropic work, being conducted
with no idea of profit or gain. This
is the plan: Stamps of the same size
as the souvenir exposition postage
stamps, and of the denominations OF
one, two, three, five, ten, twenty-five,
fifty cents and a dollar, are sold at
stations established in many parts OF
the city. Anybody may become de-
positor. All you have to do is to buy
one stamp, and it may be one-cent
stamp. You are given cardboard
book in which the stamps are pasted
and which the depositor keeps. The
stamp is the only record OF deposit,
for there is no bookkeeping. AS
soon as one book Is filled the deposit
tor gets another and the amount de-
posted in the old Is credited in the
new. No interest is paid on these
stamp deposits, because the idea of
the Fund officers is to encourage the
depositor to begin a regular savings
bank account as soon as he has saved
$40 in stamps. Then he can begin
to get interest for his money. The
money is withdrawn on the surrender
Of the card-book If all the amount of
the stamps in it is desired. If only
a part of the deposit is wanted stamps
representing that part are punched
or Cancelled.
Any responsible person in any part
of the United States can start a
branch station of the Penny Provi-
dent Fund. A capital Of $25 for the
FIRST purchase of stamps is all that is
required. The money received on de-
post is usually ample to buy enough
stamps to keep the station going.
Beginning originally with the PEN
MES of the poor of New York city,
the work of the Penny Provident
Fund has spread to other cities and
states. Today there are 265 branch
banks with eliza depositors. Last
year $106,67S was deposited, much
of it in pennies. Since the establish
ment of the Fund $1,318,927.35 has
been deposited.
You find the stations in many cur
ious and unexpected places. They are
in big department stores, in social
settlements, nurses settlements, IL
braries, dispensaries, boys clubs and
kindergartens. A Brooklyn laundry
has a station as part of its welfare
work for the employees. Typical of
the wide scope of the work there Is
branch at the Hampton Institute for
Negroes at Hampton, Virginia. 1t is
called the Afro-Americah Penny Saw
ings-Bank. The Fund sends collec-
tors at the lunch hour to many of the
New York department stores to sell
the clerks stamps. In this way it
goes direct to the people who cannot
come to the banks.
Collection Savings-Banks.
In this connection it might be in
teresting to cite one of the helps
siven to small savings in England by
what Is generally known as the
House-to-House Collection Banks.
Many people do not save because they
are lazy and do not want to go to the
bank. There are others who need a
personal appeal and a regular remin-
der. They are reached by collectors
OF savings who have been aptly called
wandering consciences."
These collection banks are fire.
quently adjuncts of church work.
They are absolutely non-sectarian and
DO not require an attendance at
church to obtain the benefits. There
is parish collector who makes his or
her rounds every Monday morning
collecting the savings. Any amount
from a penny up is received. These
are recorded in the depositors book,
which is furnished free of charge. For
the benefit of those who have to work
and cannot be at home when the col
lector calls, deposits are received in
the evening at the church institute
or parish house or some other desig-
mated place. No interest is paid on
these collected deposits, but the Off
GERS are willing at any time to trans
fer the account to a postal savings
bank. The funds thus received are
deposited with the postoffice, and
bear interest at the rate of 2k per
cent year, which is sufficient to pay
the expenses.
There are various other small saw
ings agencies both in this country and
In England. They include fuel,
clothing and other kinds of savings
clubs. In England there is even a