Connecticut western news., 1909-03-11
THE CUMULATIVE DOLLAR

It would be surpr ising could 1t be def- nitely known how many young men there are in THE NEw's territory who are making no effort, whatever, to save money, young laen whose wages are spent as soon as they are received ard who, in many instances, are ill debt.
 These young men, for the most part, hold ordinarily profitable positions, have only themselves to support and there IS absolutely no reason why each should not have constantly increasing ac- count in a savings bank.
 They are intent on having good time," they scoff at the value and con- venience of bank account, remarking there is 'time enough for that, later, ,scoff at the suggestion of some friend that something should be laid away to meet the possible emergency of sickness, loss of employment etc. We heard one young man of this class remark not long since that money was ''meant to be spent" and that he would take his chances with sickness" as he had "never been sick yet" Twenty years from now, if that young man remembers those words, he will look back, with the utmost regret, upon the day when he spoke them. This is the sort of man who, when he reaches middle age, re- marks that there are many things he would do differently could he live his early life again. And one of the things he would do would be to save-his money when he had the chance. The man with a family depending upon him for support finds the money saving oppor- &unity very limited, particularly at this dime of high prices for the necessities of life, but there is absolutely no reason why 8 young man who is steadily em- ployed at fairly renumerative wages, should not be in possession of the proyerbial "nest egg"
 Some are wasting their money by spending it in ways that are detrimental to their moral and physical welfare or for articles which they do not really need. It is not to be understood that the young man or boy should deny him. self the necessities of life in order to save money but there are but few In stances when frivolities and luxuries could not be most profitably dispensed with
 The big, round, shining silver dollar, or the oblong bank note, is 8 wonderful thing when one stops to contemplate its possibilities and we believe that could some of those who are squandering their earnings be brought face. to face with the cumulative properties of this afore said dollar, a change in their views rela- tive to economy, f1ugallty and provision for the future would be brought about.
 In order to illustrate the point, we quote 8 few figures pertaining to the result of the steady and systematic sav- ing of small amounts of money.
 Five cents saved every day tan average of $1.50 per month) will amount to $182.50 ill ten years. If placed in a savings bank that pays four per cent in terest (and this is the rate nearly every bank in Connecticut pays) it will earn >S4O.O6 in interest or $222. 56 in ten years.
 Ten cents, per day, 70 cents per week $500 per month, $36.50 per year will amount to $365 ln ten years. At four per cent it will earn $80. 36 in interest or a total of $445.36 in ten years.
 Fifteen cents per day, $1.05 @ week $4.50 per month, $54.75 per year will reach total of $668.18 in principal and interest in ten years. Twenty cents a day with interest will amount to $89O.99 in the same length of time and 25 cents day to $1113.75, an amount sufficient to buy 5000 bond, bearing profitable rate of interest, and have enough re- the second thousand dollars.
 There certainly is no young man of the class we have indicated who cannot save five cents per day.
 The figures quoted are astonishing and they serve admirably to prove the truth of the adage that if one looks out for the pennies, the dollars will take care of themselves.
 It has beeu figured out that man, having deposited five dollars a week every week in a savings bank for twenty years, can draw out six dollars week at the end of that time and still leave for his wife and children at his death all the money that he deposited and surplus besides.
 Fifty dollars placed i'll a savings bank every year will amount to $1548 46 at the end of twenty years at four per cent interest, while at five per cent it will reach to $1735.96.
 The important fact to be kept con- stantly in mind about the growth of money is that it will not grow unless it is first saved, and then saved regularly.
 The above named money saving possi-