The Medina sentinel. [volume] (Medina, Ohio) 1888-1961, 1917-03-02
TALKS ON BANKING
HOW THE SAYINGS BANK HELP
(American Bankers Associationl

HOW THE SAYINGS BANK HELPS
The savings bank has been likened
to reservoir into which flow the little
streams, to be assesmbled into one
mass, out of which flows the larger
stream, powerful because of its vol
ume. The savings bank bestows its
greatest benefits upon the individual
and the community by this reservoir
process. Scattered dollars are impot-
ent dollars. A thousand dollars divid-
| ed among thousand! different men
are Of little consequences to the posses
sor or to the body as a whole, but
when the thousand dollars is the
property Of one individual, they be-
come of vastly more power than the
sum total of the individual units. The
congregated fund moves in one direc-
ton, and has common aim, whereas
the scattered dollars all have different
ends and aims.
The beneficial work of the savings
bank can best be seen by simple il
lustration, drawn from actual fact and
in process in savings banks every day.
Let us assume that hundred people
have deposited. ten dollars each in a
savings bank, thereby making fund
of thousand dollars under the con-
troll of the banker. One of the mem
bers of the group wishes to erect a
house, having the land paid for. He
applies to the bank for a loan of a
thousand dollars and is granted the
use of the money deposited by the 9th
er members of the group. The carpen-
ters, masons, plumbers, painters, etc.
are employed and the fund begins to
do it's work. Each workman depends
for his pay upon the savings bank,
which will make advances from time
to time as the work progresses. Not
alone the men who are directly en-
plOyed, but the material dealer who
furnishes the brick, stone and mortar,
the lumberman and the iron worker
wherever material is produced or man
ufactured the stimulus of this opera
tion is felt,
The bulk of the money goes to labor,
to be spent for food, clothing, shelter
and amusements, and all the indus
tries that cater to the wants of man
feel the benefits. 1t passes from hand
to hand, down through the courses of
society until eventually it finds its way
back to some bank foR similar oper-
alton.
When school district issues a
block Of bonds to build new school
house, a city for street pavements,
sewers, water, parks, etc. the same re-
suits fOllow-labor gets the benefit.
And from the portion that is not used
for immediate satisfaction Of the
wants Of men, q portion finds its way
back into the bank to be united with
other thrift dollars to benefit the mass
es.
When II is remembered that q sim
gle savings bank in New York has on
It's books today over seven thousand
open mortgage loans, representing
forty million dollars thus placed in cir
culation, the far-reaching effects Of the
savings bank will become manifest.
We might well claim the savings
bank to be builder Of cities for it has,
through century been assembling
money from the many TO lend to the
few, to be passed out again through
| the pay envelope for the benefit Of the
many. w M
Every time you enter a well-kepi
home, cross d well-paved street, walk
! in the park, draw a cup Of water, send
your children to school--yea, Il may
be tear open your pay envelope, ycr
4 may owe a debt OF gratitude to some
| savings bank for furnishing the money
that made Ill these things possible
| You can best pay your debt By joining
| the "arny Of the cOntentedn who uss
the savings bank as the reservoir Il
store their savings, 70 be passed on
Iagain with the savings Of others 70
the benefit Of mankind.