Connecticut western news., 1909-04-01
SAVINGS BANK IN
 CANAAN'S SCHOOL
PUPILS LEARNING TO SAVE MONEY


 Results in Other Sections of the
 Country.
 A school savings bank has been in augurated at the Canaan school and promises to be a pronounced success The interest of the pupils is maintained by permitting them to conduct the busl- ness, the teachers, of course, having general oversight
 The process of establishing a school bank of this character is as follows:
 Having made init1al preparation and set day for collecting the first savings of the scholars. their parents and the public should be fully informed. This can be done personally by the teachers and friends of the system in private schools or country districts. In cities and towns it is wise to issue a circular addressed to the patrons of the school, stating facts of the proposed innovation and It's advantages, soliciting their assistance. The circulars should state that it is the desire of the promoters of the system that the children should be stimulated to industry and deposit the product of their own labor or self-denial; that the pennies are to be planted Ill a bank as the seed of future fortune and good habits, instead of, as is too often the case. i'll candy or cigarette shop, where they can produce only an ex- travagance of taste, which ripens into nothingness, intemperance and poverty; that the influence of their child, while bailding up h1s own stability by prac- tical method, will help those weaker than himself by example; that no tendency to penuriousness IS fostered,. it is he who hath that can honestly give; that school deposits are voluntary on the part of the pupil, but the advantage of the oppor- tunity are offered to all, and general CO., operation earnestly solicited.
 On the morning of the collection, which is properly Monday, the roll is called by the teacher; the child responds: "Yes, five cents'' Cor whatever his amount may be), or simply takes the money to the teacher without reply. She marks the amount on a School Savings Bank card opposite the proper date, fill ing out the card in the child's name, places the sum also on the roll book to his credit, and gives the card into the child's keeping. The card is always ill possession of the pupil as memorandum and receipt. The administration of the School Savings Bank system, after the first morning, occupies not more than fifteen minutes per week. When the teacher has completed the roll call, the money is placed in an envelope, marked with the amount, sealed and conveyed to the principal, who acts as temporary treasurer, if the school is graded.
 The first collection is deposited ill the local savlngs bank in the name of the teacher or principal, who receives i'll re- turn bank book in which is recorded the amount deposited as "General School Fund.-.
 A deposit list, copied from the teachers roll book, must be sent monthly to the bank in order that the accounts of the scholars may be indiyidualized.
 When 8 child has deposited $1, he is given bank book. and becomes, through the school a regular patron of the say ings bank. When his deposit reaches $2 or $5 (as the bank may elect), it draws interest at or more per cent.
 The pupils are allowed to take their bank books home for day or two at the close of every month. The family in- terest aroused by the monthly exami- nation of these bank accounts has in many instances, already noted, had tell jug effect, and older folks have learned lessons in thrift through their children.
 The scholars card, which is copy righted. is folded one. On the inside it has a date for each Monday in the school year that the deposits may be credited with figure. The back of the card reads as follows:
 Deposits will be received every Mon day only, at the morning session, by the teachers of each school. The amount will be delivered to the principal, who will deposit it in the local Savings Bank in the name of each depositor.
 One cent or upward can be received by the teacher. When pupil has @ deposit of one dollar or more, a bank book will be given, free or charge from the bank.
 Deposits of two dollars and over will bear interest of .. . per cent. per annum.
 The bank books of the pupils are in charge of the principal or teacher while they attend school. When the pupils leave school, and also during vacation