Pullman herald. [volume] (Pullman, W.T. [Wash.]) 1888-1989, 1908-01-18

"Dld you know that the smallest
bank in the world is right here in st,
| Louis" 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 a 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-intcrestn for
tha originality of the idea which 1t
demonstrates and for the educa tlonal
and ethical work II has already accom-
plished, and though small in deposits
and depostors-nO child over "a 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
the bank the juvenile deposltors are
alss being taught accuracy and orderli-
ness, and II 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
peer families of the Ghetto have had
pleasures and comforts hitherto un-
known to them, because the pennies
that formerly went for indlgestible
sweets or big fat pickles are now saw
ed, and when a sufficient number OF
them have accumulated they are used
for ether larger and more lasting en-
joyments; and there Is one case in the
banks brief history where a boy saved
enough money-S32-to go into bust
ness for himself. That boy is now
educating himself and also adding his
mite to the general fund for the SUD-
port Of his mother and three small sis
terB.
Less than a year ago Philip T. 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 Proyident Bank Is really
remarkable institution, and Is the
only one of its kind In the world 80
far ms Is known. Its depostors are
all children under a years of age. and |
many Of them are scarcely more than |
babies. The youngest depositor at pres |
ent Is Israel Fellman. who not only |
cannot speak English, but is as yet I'M !
able to converse intelligibly In any Ian. |
guage. He Is not yet 6 months old, |
and his account to date amounts 10 |
nearly 80 cents. Many of the deDosl |
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 cnn boast of
having a whole big dollar" to ex-
change for the fascinating colored
stamps that are pasted in the bank
books.
Stamps are used to register the de-
posits instead of the usual entry sys-
TEN, because they are not only more
easily understood by the children, but
they seem TO have a stimulating ef-
feet. The height of every childs am.
billion seems to be TO get a yellow
stamp (the 81 stamp In his book,
and It Is one of the regular events OF
banking hours for the children to go
on in little groups to compare books
and see which has the most yellow
stamps. The stamps differ In color ac-
cording to their denominations, and
even those children estimate their own
accounts by adding the stamps In their
hooks In this wise:
1.-TWO nlckels. That's a dime. amt
it7 Two pennies, one penny. two more
pennies. That makes a nickel. got
q dime and a nickel in my bank book :"
No amount Is too email to be &C