Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-12-24
BY GEORGE E. LLOYD
On Trend Of Thrift

WlTHlN the year there has been striking
w increase in saving. according to George
r.. Lloyd, director of the savings department
OF the Federal Reserve Bank for the Third
district.
This has been manifested both in the great
volume of money that has come into the
various banks of the state, says Mr.. Lloyd,
ana IN the enormous number of new de-
postorS.
since last year" Mr.. Lloyd snid. there
has been an increase Of 20 per cent in de
nosltS IN savings banks throughout the state.
Inc amount of money in dollars and cents
would run up to many millions of dollars.
one OF IN" most striking features of the
movement has been th" Indication, in many
ways. that it is likely TO be- an increasingly
permanent one. As an example. most Of
the banks aud many other institutions fus
tered by the Federal Reserve Bank inau-
gurated during the year Christmas savings
funds. The significant fact remains that
within the district fully 81 per cent of the
funds which matureda,t this season of the
year were not used for Christmas shopping
or other expenditures. but were immediately
transferred TO som" other permanent form of
saving or Investment. Thus many who had
never saved before gor their first taste of the
fruits of thrift at this time aud have liked
1t so well that they are making il II perma-
nent habit.
Manifested in Other Ways
In many other ways the THRIFT habit is
''"' :" " SNi4tIHI NHN' tue
various war savings movement, nrc still
going on. Banks finding that rncouragcmept
of the habit has brought results in greatly in
creased deposits, are fostering all sorts of
savings propositions Individually aud col
iectlVcly many groups hay" grown rapidly
ana progressed long way. Ih"r" are Scv-
eral thoUSahd savings clubs or their cquiva
lent IN 'hc dlS'rict al present
AS sign that lhIN movement is going
10 De EXTENDED INTO III" next generation. the
School savings plan has attained great mo-
mehtHm ana auGufS wei l"r years to come
ieGple generally ar" coming 10 realize more
ana more that II h"H within their power to
become polChtlaI CAPITALISTS
Ath0ugn thG thrift movement had its in.
ceptl0n during the stress Of war, when Lib
ertH ljohaS ana thrlit stamp, were sold to
help IN" cause; the luII fore" Of the move.
i%henI % nus Only o'gHh |" max" itself apparent
durlns IN" laSt SIX months or 50,
t,udnio} ln 5n" periou Hl i"iSr prosperity that
l0HoWcu our entry mt" the war and during
the, year ana halt that followed there was
as Is G'h'raIlE known. Il period Of great cx-
traVhSah'r, pnrlhg mat ino a thrift move
heht r"!ld maze Dnl mn" Acacway. But
"heh inns PERIOD OF Imitation had run its
CourS" ana d"naIIoil b"ramr I'll" order Of the
aaE, INC s'ul" OF lhe pubII' mind was ready
Tor thrllt.
Strike Against IIigh prira.
"'rhis mazda it.eIf ,rorif..
strike against hiph prirrs ,Io, u! ln' sLI"ht
iobogganing and is ttiII forri',,, ,I"rn'u mem
ward. Of course, when his JTnotiII,n, TnotiIn GOWN Wn,
Is completed and condition, ,'','' "','n pTrlo"
normal it gorS without s'',f',, "",r pack TO
viii be II rraJiustmeut, Jusi' VIZ W., 'Eat G thcrr
will take is the question. ''' '''''' '''"t