Evening journal., 1920-02-13
THRIFT BASED on FAMILY EFFORT.


THE family group as the unit saving anC
thrift rather than the Individual deposors in Nhe
savings banks Is the basis for certain new phases OF
savings banking. That applies fully Wilmington al
It does to any other community
The object Is evident Not only does It emphasize the
value OF family budget emphasized by the banks
during the recent National Thrift Week, to
better understanding between the various members OF
the family money matters Considerable experience
is available in savings banks Of Cleveland and Pitts
bursh, where calls for information home economics
averaging 100 per week each city In Maine
expert is operating under the auspices OF the stale
Chamber Of Commerce and Agricultural League being
each OF the cooperating banks during days each
| MONTH
The American Bankers Association Savings Bank Sec
ton, announces special Investigation Of this recent de-
parture from custom and is formulating plans for its
extension to other banks through the following committee
appointed by s Fred Strong Of New Haven, president
of the Savings Bank Section:
Messrs. w. D. Longyear, chairman, vicepresldent
Security Trust and Savings Bank, Los Angeles; f. K
satteree vce-ehairman president Franklin Savings Bank
New York City; Howard Bddulph, treasurer Bloomfield
Savings Institution, Bloomfield Joseph r. Noel, prcsden.
Noel State Bank, Chicago; Louis Bez treasurer State
Savings Bank St Paul; obermayer president Greater
New York Savings Bank Brooklyn; John w. B. Brand,
treasurer Springfield Institution for Savings Springfield
Mass John p Krby president Provdent Savings Bank,
Estheryille. Iowa; Leo Day Woodwork. secretary.
Nassau street. Nes9aYork CityA
In commenting upon this additional service by the
American Bankers Association President Strong refers
to the very evident need for the closest possible co-opra
ton between all the members Of the family circle and
to the very evident neglect in the past of the need for
listing the active interest of the women In the homes
President Strong continues
THE purpose and function Of savings banking is be-
coming more evident from year to year The need for
institutions devoted to the collection Of savings and TO
their investment In longterm ow-rate securities for the
support OF industries and commerce. well asfor the
financing of the government never more evident.
The performance of this function has been greatly facill
taed by the rapid increase in deposits which is being re-
ported by savings banks in all parts Of the country
Aside from their strictly business features the saw
ings banks certain public aspects which
being emphasized We may refer TO the promotion Of
savings the Development Of savings systems IN
industrial plants and The further expansion Of work in
economies, None Of these services can be expected
to be pronoben doafs and cents TO thebanki although
they may be Of ncaeuabe value to the individuals and
families concerned.
non the other hand, there is no element in our com
munlty life which has deeper interest in this type Of
public service than have the banks Furthermore, II
offers most desirable field for expenditure of funds
available for general publicity and perhaps the bank less
than any other institution organized for profit looks to
its publicity and advertising for direct Fesuits.
1T Is the purpose Of the saNngsgBank Section to de-
velop the work home economics by its member insti
tulions both active associate. Many inquiries are
already being received Theseeton has the assurance OF
hearty cooperation from all parts 81 the country"
The function of the home economics department In /
up to-date savings banking is thus INDICATED in booklet
from savings and trust company in Pittsburgh.
bank should be mora to the citizens Of the com
munty than place for the depos.ting and with
irawa Of money The relation between the banker and
the individual should be as close and confidential as
The relation between physician and patient
Thousands Of people visited our banks for the first
.yyhen they came to make payments their Liberty
Bonds In many cases il was their first trip to any bank
rhey were Interested. They wanted to know things.
Yet often they were afraid or ashamed TO ask. The
questions that they did ask simple they were from the
viewpoint Of the banker proved that the rank and e Of
Industrious men and women have had neither the time
aor the opportunity to learn the many ways in which a
bank can be useful to them in their everyday living
The Home Service Department has been established
largely to encourage people So ask questions, to offer
Dractcal suggestions about the business Of getting along
N the world to answer questions however simple about
their financial affairs and TO help them budget their in
come and so make spepdng more than mere matter Of
impulse
The direct benefit to the particular institution is of
secondary importance Whatever helps the community
helps every individual and organization in the community.
Raymond B. Fosdick under-secretary general OF the
League OF Nations and American representative in the
eague machinery resigned the United States
las not accepted the league And s the heart Of the
world beats on.
It's good thing for senators that they not paid
~ piece work.