The Chesterfield advertiser. [volume] (Chesterfield C.H., S.C.) 1884-1978, 1919-06-19
SCHOOL SAVINGS BANKS

Last year In working out the
school savings-bank system there
were in Richmond 9,793 depositors.
Of this number $3.50 were white
and 3,113 colored The amount de-
posted was $27,164, making an aver
age Of $2.77. From this amount $18,
822 was withdrawn, most of which
was put into w. S.
This, it is pointed out, is merely the
result of the first year of the school
savings-bank system, and far larger
results have already been achieved,
although no report is thus far avail
able for the present year. However
it is not only the amount of money
that these children save that is the
aim of the system, but the far more
available lesson of thrift that it teach
eS.
President Wilson has said: "I doubt
if many good by-products can come
out of war, but if out of this war our
people learn to save, the war will be
worth all it has cost in money and
materials"
And it is generally agreed that one
of the best ways to reach the people
is through the children.
In the Fifth Federal Reserve Dis
trict banking plan has been invent
ed to simplify the teachers part of
the savings-bank system. Teachers
everywhere reported difficulty in
keeping records of the small change
turned over to them in savings for
thrift stamps. Various methods were
tried until the penny savings book
was devised. For every cent depos-
tied the teacher stamps in the book
miniature picture of Franklin, with
the reminder "A penny saved"
Whom twenty-five penny payments
have been made in this manner the
| pictures are cancelled, in exchange
for Thrift Stamp. Pupils are urg-
| ed to bring savings accounts to a
point whore they can purchase at
| least one War Savings Stamp, bear
| ing interest. The lesson taught by Il
nation wide distribution of stamps
| is considered Of even more import
ance than number Of stamps sold
The penny savings book is con-
| stant inspiration to the child to save
Between its covers, in addition to the
space set aside for t he penny re-
| receipts, are messages from Carter
Glass and from "Uncle Sam Simple
| language is used in urging the child to
| save.
What do you want to be when you
grow up?"is one Of the appeals to
the child.
"Tou want to be somebody, and
| you want to be somebody important,
don't you? Then you must begin to
save money. That is what all rich
and successful and important men
and women in the world have done"
| Saving is important as means to
an end; boarded money means no
good to anybody, it is explained. The
child is asked to put away the pennies
for summer camping trip, Il college
education or any one Of the thousand
and one things that growing boys and
girls dream of. A sound thrift mes
sage in lasting form is thus put into
the hands of the children in an attrac-
tive manner. The interest of the
parents is found to be stimulated by
the observance of the thrift habit in
the younger members of the family.
The War Loan Organization of the
Fifth Federal Reserve District has
adopted as its goal, in the savings
campaign, "A war savings society in
every class ROOM. This, of course,
is the simplest and most direct way
of teaching the children future
citzens-"the habit of thrift Of in
telligent saving and Of careful in
vesting."