The Kendrick gazette. [volume] (Kendrick, Idaho) 1892-1968, 1908-01-17

did you know that the smallest /
bank In the world Is right here in St |
LOUISE" asked an official of one of |
the large st. Louis banks. There is a
bona fide banking institution in this
city with total deposits for the whole
period of It's existance Of only little
over $500, and its entire business is
conducted by one woman. 1t Is the
children's bank In the Ghetto, and
though 1t Is one Of the most interest
ing financial institutions in the city
1t is such tiny affair that you could
easily put the whole works in your
hat and still have room for your head"
The little bank referred to Is an in
teresting nstitution-interesting for
the originality of the Idea which 1t
demonstrates and for the educational
and ethical work 1t has already accom-
plished, and though small in deposits
and depositors-no child over IA years
of age Is allowed banking privileges
there-it Is very far from small in the
scope Of Its influence, and is really
one Of the most important economic en-
terprises now being carried on In st.
Louis. Through it's influence 800 chill
dren have learned many lessons Of
economy, self-denial and generosity.
lessons which they are putting into
daily practice, TO the great benefit of
all with whom they come In contact.
BY means Of the system employed by
| ~ ~ nh ho f,,un
also being taught accuracy and orderli-
ness, and If they are old enough to COM
prehend the instruction are given an
insight Into the elementary principles
Of modern business methods. Through
the agency Of this little bank many
poor families Of the Ghetto have had
pleasures and comforts hitherto IN
known to them, because the pennies
that formerly went for indigestible
sweets or big fat pickles are now saw
ed. and when a sufficient number Of
them have accumulated they are used
for ether larger ana more lasting en-
Joyments; and there Is one case in the
! banks brief history where boy saved
enough money--$32-to go into bust
, ness for himself That boy is now
educating himself and also adding his
mite to the general fund for the sup
port of his mother and three small sis
tiers.
, Less than year ago Philip L. Sc
man. superintendent Of the Jewish Edu.
cational Mission at Ninth and Carr
streets, established the bank for the
' purpose Of teaching economy and indie
pendence to the children among whom
his association works
The Penny Provident Bank is really
; remarkable institution, and is the
; only enc Of its kind in the world. so
far ~ is known Its depositors are
all children under IA years of age, and
many Of them are scarcely more than
babies. The youngest depositor at pres
cannot speak English. but is rs yet un.
; able to converse inteIligibly In any Ian.
guage. He Is not yet months old,
and his account to date amounts to
nearly 30 cents. Many of the deposi-
tors who appear regularly on banking
days and stand in line patiently wait
ing their turn to deposit the money
which they hold tight In their sticky
little fists, are so tiny that only their
eyes are visible above the cashiers
table. Some of them can make out
. their own deposit slips, and some can
not, but all know very well what they
, are doing and why they do IT, and
the child who brings two pennies lays it
down with his book with as much of
an air as do those who can boast of
= having whole big dollar" to ex-
change for the fascinating colored
stamps that are pasted in the bank
s hooks.
Stamps are used to register the de-
S posts Instead of the usual entry sys-
: TEN, because they are not only more
8 easily understood by the children. but
l. they seem to have stimulating ef-
s feet The height of every child's am
bition seems to be to get yellow
n stamp (the 81 stamp in his book,
and It Is one Of the regular events of
banking hours for the children to 90
OF In little groups to compare books
g and see which has the most yellow
stamps The stamps differ in color &C
l. cording to their denominations, and
d even those children estimate their OWL
n accounts by adding the sta mps In their
;, hooks In this wise:
T. Two nfckels. That's a dime, aim
(, TT Two pennies, one penny. two more
5, pennies. That makes a nickel. 1 got
|, dime and a nickel in my bank book =
No amount d too small to be &C