Williston graphic. (Williston, Williams County, N.D.) 1895-1919, 1916-03-30
SCHOOL SAVINGS BANK
SYSTEM FOR WILLIST0N
FIRST INSTITUTION OF KIND IN
THE STATE WILL OPEN HERE
ON SATURDAY,, APRIL 1ST

For several months the City schools
have had under consideration the es-
tablishment of school savings bank
system. A change in the system
adopted has delayed the actual work
but all supplies are now at hand and
the bank will be started at once. The
plans are that large number Of
school pupils shall start their savings
accounts on Saturday, April first.
With their characteristic enterprise
and desire for the promotion of all
activities for community good the
three banks of the city have joined
their forces with the schools and are
pushing the schools Savings Bank
system enthusiastically.
So far as statistics show, Williston
will be the only city in the state hav-
ing School Savings Bank system in
which all the banks of the city unite
with the schools. This union of in
terests together with the encourage
ment from the homes should make .
record of children's savings that will
be of worthy proportions.
Under this new plan no money is
brought to the schools at all. Pupils
are brought directly in contact with
"their bank and learn to make de-
posits by themselves and to have their
own pass books.
The system is simple and uncom-
plicated. Each pupil wishing to
start savings account and become
thereby a member of "The All The
Year Thrift Club" goes to the bank
of his choice and upon the deposit Of
dime is given a small envelope
bank. This he takes to his own home
and upon it makes a record each
time he makes deposit. When he
has saved one dollar by putting the
coins in this envelope bank, he returns
to the Bank and is given pass book
or credit slip showing a credit Of one
dollar and ten cents-the ten cents
being the dime he had deposited at
first as an evidence Of good faith.
Again he returns home with his en-
velope-bank to save a dollar as soon
as possible at which time he goes
back to the Bank and increases his
deposit.
At the schools the pupils are known
as members of either of two groups:
and "Depositors." The
Savers are those who have secured
their envelope bank from the Bank of
their choice and are starting to save;
the Depositors are those who having
saved their first dollar have received
their deposit slips or pass books from
the Bank. Many children already
have money Of their own, perhaps
kept in top banks at home. 1t is
hoped that these will all be encour-
aged to place these funds in the Saw
ings Bank account. Records are
taken at stated intervals at the
schools, of the number of Savers and
and records are made of
pupils accounts, in such way as to
prevent any embarrassment. Some
forms of competition will be arrang-
I'd for the further encouragement of
;he plan.
J. P. Morgan when asked, "What
s the best collateral in the worlds"
~ members of a congressional COM
nittee before whom he was testifying,
'eplied, "Character." And Americans
n common with the rest of the world
IRE beginning to realize how large a
'art genuine thrift-not parsimony
should play in character building.
saving is said to be greater factor
n the accumulation of wealth than
S the ability to earn. Statistics in
icate that. but three men in a hun
red in this country are worth a thou
and dollars.
But a larger value of the thrift
abit" than the mere money saved, is
ound in the lessons of self control
aving, planning, foresight, and many
ther allied old fashioned virtues that
re beginning to be recognized as the
Dundations of commercial principles.
The City Banks have arranged that
II School Savings Bank Depositors
hall receive five per cent interest
every six months, on
leir savings.
The successful issue that is hoped
n as the outcome of this movement
I the part Of the Public Schools is
1T that several children may be
'und who have rather striking
mounts of money in their own names
-laudable as that condition may be-
1T rather is it desired that several
1ndred children shall be encouraged
save their neckels and their dimes
re and there, learn the lessons of
Continued on Dape 10Y