The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1908-09-16
School Savings Bank: Origin Benefits
From SATURDAY EVENING POST

! the cbiId's name. This money. when
| collected, is placed in an envelope,
! which is sealed and signed by the
| teacher. who writes the amount out
side Then it is sent to the prlncI-
/ pal who is not permitted TO open the
| enyeIoDe. When all the envelopes
| from the various classes have reached
l him he sends them to a savings bank
/ for deposit in the name of the school
! Accompanying the envelope on every
fourth Monday is a detailed list. giving
the name of the pupil and the amount
deposited BY him each week. This list
goes to the bank and the child's name
then goes on the books of the institu-
ton If the child so desires he can
have a book regularly made out in his
name and he can draw interest.
The pupil can draw out money after
he has -deposited So, but only with a
check signed by the parents or by the
principal. Many precautions are taken
to prevent the misuse of the money
If II is known, for example, that the
mother of the depOsitOT is addicted TO
the use of liquor her signature Will
not be honored on a check
Every child gets a school deposit
book as soon as he begins his deposit.
In this book is written the amount OF
every weekly deposit. This, there
fore. is the record of savings for the
child in case he does not have d book
at the regular savings bank. On the
back of the school deposit book are
the following regulations, the book
here quoted from being that of the
Long Island School Number 4. where
the system was first introduced:
Deposits will be received every
Monday only at the morning
session. by the teachers of each
class The amount viii be deliv-
cred to the principal, who will
deposit it the same day in the
Long Island City Savings Bank
in the name of each depositor.
One cent or upward can be re-
ceived by the teacher. When a
pupil has a deposit of one dollar
or more. a handbook will be
given, free of charge, from the
bank Deposits cannot be with
drawn till amount reaches So
and then only on the second
Monday of each month, except
in cases of sickness or removal
from the city, but if the deposit
should be Withdrawn and the
amount has been less than So,
the bank will charge ten cents
for the bank book
Deposits of So or over Will bear
interest.
The bank books Of the pupils
are kept by the principal as long
as they attend school II they
want to leave the school, or at
vacation, the book will be given
to them. and they can withdraw
their money, but they Will re-
quire the presence of their father
or mother, and the signature of
the principal During the sum-
mer vacation of the school de-
posts may be made or money
Withdrawn from the bank direct,
the cashier acting during that
time for the teacher; but if the
applicant is unknown TO the
cashier he must be identified be-
fore receiving the money.
Some idea Of the extent of the /
school savings bank may be obtained /
when it Is stated that at the Long /
Island City school where The system /
was first introduced the average
amount collected every Monday morn /
ing is 1925.
The statistics which are collected /
each year by Mr.. Thirty show. accord |
ing TO the latest reports. that there /
are now III, 900 depositors. The larg