Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1913-09-03
PUPILS SAVING
Their PENNIES
School Bank Which Has Proves
So Successful Will Be Used
Again This Year.

The School Savings bank plan which
has been in operation in the public
schools for the past few years, is to
be continued again this year. Tomor-
row morning Robert Mitchell of the
State bank will visit the schools for
the purpose of leaving supplies and on
Friday the usual weekly deposits will
be made.
1t is interesting to note that on Sept.
l, 1911, there were 996 depositors and
deposits amounting to S4,563.3S; Sept.
/, 1912, 1929 depositors and $S,152.3s
in deposits and on Sept. of this year,
1,4S0 depositors and S13,19S.49 in the
bank.
City Superintendent II. B. Hayden
has the following statement to make
relative to the School Savings bank:
At meeting of the board OF edu-
| cation in December, 1910. the school
management was authorized to estab-
lish a system of savings among the
children of our public schools.
This savings system has now been
| in operation in our schools since jan
uary, 1911, and we are much pleased
with results. A Commendable number OF
our pupils are personally interested,
and they are forming the habit of sys'
tematic saving, and the amounts
thus laid aside are steadily increas-
ing.
School savings banks have been for
many years in successful operation in
Europe and the United States; and
through them many children have been
trained to habits of thrift and economy
that have been help throughout theil
lives.
This is the purpose of this move
ment in our schools-to give to the
children an appreciation of the rea
value of money, and impress upor
them the Importance of the habit, es
tablished early in life, of laying aside
a portion of such money as they ma.
earn or otherwise acquire.
We believe that too many children
look upon money as simply the mean
for procuring temporary pleasure, an
thus early form the habit of spending
it unwisely. But we also believe tina
under the counsel and encouragement
of their teachers many of the childrel
are already being led to save little b.
little for some really beneficial us
much of the money which would othe,
wise go for things that do them n
good. In the aggregate a splendi
amount has been saved and lin
army of savers has been organized,
1t is not the purpose to urge childre
to make large deposits, but rather I
save Systematically their pennies an
. their small amounts. The bank wi
=, accept deposits of fifty cents or nor
= at a time. This deposit may be a
!, cuhulated at school by the children
penny or more at time.
The working of the system is ver
simple. Each Friday forenoon til
children will take to school their pc
Z MES or other savings, and will depos
Il them with the teacher, who will issl
9 a penny stamp for each cent paid
Il by the child. These stamps will |
Il pasted into a folder" holding fiji
d stamps. This folder" when file
viii be taken to the State Bank
1 Rock Island and deposited by Il
child, the parent accompanying him
X the bank if he so desires. But Il
bank will use the same courtesy al
q consideration in dealing with the chi
depositor as with the adult
Il Money once deposited in tho bal
can only be Withdrawn with the &C
% sent and written signature of the pt
10 ent :.
le Interest at the rate CT per ce
o. per annum will be allowed on all {
W posits remaining three months.
es AS this school savings bank syste
Re is established solely for the good
E. the children. the cooperation OF p
ents is earnestly solicited. Each chi
depositing money viii bring fro
school his stamp folder" showing
S penny stamp for each penny depositt
ST His bank book, issued by the Sta
n Bank of Rock Island, should be Ike
*. ct home. Thus the parent may s
as at all times that due credit is Civ
IS for all savings. We earnestly requt
m your cooperation and assure you
an ours.