The daily telegram. [volume] (Clarksburg, W. Va.) 1901-1926, 1913-08-21
saving clubs.

the best way % accuiIulase
money Is to resolutely save and bank
fixed portion OF your income, no
matter how small the amount. -
Andrew Carnegie
Man is a gregarIous animal, and
he is prone to follow a leader-do
what others do. This is the funda-
mental principle underlying the
Christmas and vacation savings clubs
and other similar schemes to stfm:l-
fate a community OF interest In the
systematic building up of a surplus
The idea OF cooperation enters into
this plan, and a friendly competition
in saving takes the place OF a foc-
ish wing with one another Ia the
race Of extravaganza.
Many persons are SO constituted
that they need to put themselves
into the machinery of some such
scheme as this which will force them
to save automatically, as 1t were.
Perhaps the best known Of these
methods is the Christmas Savings
Club, which aims to make people be-
gin early in the year to save money,
ostensfbIy for Christmas presents,
but really for any purpose desired.
There are several classes in the
"Cyhristmas Savings Club" If you
Join Glass 5" you pay i've cents the
first week, ten cents the second week,
fifteen cents the third week, twenty
cents the fourth, and so on for fifty
weeks. Then two weeks before
Christmas the Santa Claus baIT.S OF
your choice mails you check for
s63.75, usually with interest. or
If Won are still fairly opulent after
christmas you may start in this class
by paying $3.50 the first week, ana
reducing the payments of five cents
n week. Then there are two. cent
and one cent classes, which return
$3.50 and $12.75, respectively, to
the member just before Christmas.
Over 500 banks conducted Christ
mas Savings Clubs in 1912, and tho
clubs were scattered throughout
many states. The Union Trust Com
pany, of Harrisburg, Pa, distributed
$85O,OOO to club members at Chris
mas time.
The working people Of England
are great patrons of savings clubs
all sorts of agencies being created to
enable them to save money that they
may have it to spend during the fes-
tive season OF the year. There are
clubs Of all kinds, ranging from the
shop club, to which the workingmen
lcontribute, to the little clubs run for
the purpose OF letting school chill
dren have a shilnng's worth of sweets
for a Christmas treat. There Is
hardly a workshop OF any Importance
| in London without its workmen
savings clubs, besides which there
l are many dividing clubs carried on
at public houses. and the deposits
amount In the aggregate to very
large sum. The Withdrawals begin
in the early days of December. and
IL is not uncommon for the banks to
pay out $1,46O to $2,433 to single
club.
Working girls in this country have
found the vacation savings fund verj
lhelpfuI. Miss Anne Morgan
daughter of the late ]. Pierpoint
Morgan, Is at the head of the execu-
tive committee of this fund, which
started with the idea of pointing out
wholesome, economical boarding
places for summer outings The
next step was to take care of the
savings OF the girls throughout the
year, 50 that the outings could DC
had without any slips between the
pay envelope and the two weeks
needed vacation. The work has nov
expanded so that it now teaches the
girls thrift in other directions.
Similar cooperative effort is mani