The Twin Falls times. [volume] (Twin Falls, Idaho) 1905-1916, 1916-02-15
80 es q . q = L 6 6 :
TALKS ON THRIFT
THE BANK AND IT'S DEPOsIToRs

This Is to be the centennial yeaf OF
the savings. bank. we shall hear much
of the savings bank, what 1t is and
what 1t does, and much of thrift, which
is the foundation on which it is built
1t Is but fitting that an institution
which has survived a century should
celebrate, for it has become ap essen
| tial part of our everyday life, and
whether we know it or not, we could
could not very well get along without
lit 1t is proposed to tell you in this
series (Which will run throughout the
year, something about the practical
side of the bank, what it does for the
individual, the community and the IA
tioD You may think that when you
nand in your money, and get a bank
book in return, that the matter is end
ed, but the wheels have just begun to
move and they grind a grist which
benefits you and the community more
than you may know
To single out the savings bank for
special attention would be very
worthy compliment to a very worthy
institution, but would do an injustice
to other banks, many of which per-
form, ! ma certain sense, the same
functions for the individual and serve
the community just as effectively as
does the savings bank, although IT
may be in different way.
AS a broad proposition bank is a
bank, in that it performs certain de-
finite functions irrespective of its
character, whether savings bank, bank
of discount or trust company, which
functions are: (a) to receive depos-
it's; CD to make loans, and (c) to is
sue bank notes, the latter Icing con
: fined to the national banks and feder-
al reserve banks.
1t Is well at the beginning of this
( series to make a distinction. Wher
? you open account with bank OF dis
2 count in its checking department yol
create a different relationship thar
: when you open account in the savings
5 department When you open check
t ing account in the savings department
say in the eyes of the law: "Thi
7 money is mine. 1 deposit it with you
( ii is now yours. l accept a credit OIL
your books and you are my debtor
: shall expect my money on demand
4 and make this demand by drawing
I checks on you" But when you open
t savings account. you say: II an
S willing to enter into special con
g tract with you. l will accept the pas
It book you give me as evidence of M
2, deposit with you, and agree to b
Il bound by the rules and regulation
=, found therein. I will not draw check
d on you, but will present the book a
: every withdrawal, and l also agree t
d give you notice Of withdrawal, shoul
d you require it as a necessary measur
e of protection"
l. In a mutual savings bank you go
g bit further and say: Take this none
S. and invest it for me. You are hi
a trustees to do this. The law tells 20
l. what securities you may purchase an
+, l expect you to obey the law. Pa
It your expenses, establish a surplus c
& guaranty fund to save me from losse
r by reason of depreciation of secur
10 ties or otherwise, and pay me the ba
1t ance as interest. 1t is may bank yo
IS simply run it for me-" You will Sc
ID by this process that you become
re partner in the savings bank and
sc creditor in the other.