Five Mile Beach weekly journal., 1920-03-05
SAVINGS SOCIETIES
BENEFIT ALL WORKERS
Reduce Labor Turnover and
: Stimulate Production.

the employe? How does it benefit the
United States? Employers have dis
covered that a savings society reduces
the labor turnover, stimulates produc-
4ion and makes for better efficiency
among the workers. The employees
Gain an honest appreciation of fnan-
cial freedom and independence, in
sure themselves and their families for
q rainy day, and tie themselves to a
steady job. A savings society makes
for American citizenship. A man who
invests in the securities of a govern
ment takes greater interest in that
government and is more ready to up
hold it and it's institutions. He be-
comes more closely attached to l.,
and if he is not a citizen, he will aim
70 become one. Excerpts of letters
from business men prove these points.
"Now tina. the payments on Liberty
Bonds are winding up, we look for
even more savers among our employees
in 1920 than in the past year. We
have made a study of your Thrift plan
and will push it through" writes L.
]. Woodward, President of F~itzgibbon
& Crisp, Inc, Trenton, N. j., to W. ].
King. Chairman of Government Saw
ings Societies, Third Federal Reserve
District.
Regular group saving in industrial
plants is good business from the
standpoint of both employees and en-
ployers. In his report of January 16,
1920, President Woodward continues :
"you may be interested in the sue
cess of the Government Savings Soci-
ETY. installed in our plant by your
Mr.. Hopkinson, December, 1919.
1.-THE educational work of the thrift
plan as outlined in the Get the Habit
letters which we put out in the pay
envelopes of our 300 employees, proved
the stepping stone for weekly savings
by means of Thrift and Savings
Stamps. The savings averaged $4,000
q week.
"We continue to keep up the interest
by using the pay envelope Work and
Save inserts, etc, and believe that
the results already attained justify the
encouragement of the plan as good
business from the employers stand
point.
"Our experience has been that the
majority of employees now desire to
work harder so that they may earn
more in order to save and invest in
Government Stamps, where their
money is safe and secure against loss
or depreciation. All this helps greatly
to increase production"
That the instalment of these soci-
cites into the various business places
helps the workers to a regularly
and more easily, tends 20 stabilize
labor and makes for better citizen
ship, the following excerpt of a letter
from H. S. Taylor, Secretary of the
Savings Society of the New York
Ship Building Corporation, Is concrete
evidence:
"In our Lumber Shop, the labor
turnover was almost 100 per cent
every two weeks. The War Savings
Society secretary for thai department,
which, by the way, was made up en-
.tirely of colored people, paid little or
no attention to them, because it was
impossible to do anything in the line
of stamp saving. His girl friend hap
pened to be secretary of another de-
'partment showing very good results.
To compete with her, he Insisted thai
all the colored men in his shop be-
come savers. For a period of months
there has been almost no change in
the working force of his shop as a
result of his efforts.
Promotes Citizenship.
SIN the plate and angle shop, a de-
lpartment of about 500 men, having
many foreigners, a canvas was made
to find out men desiring citizenship
papers. OF all those who wished first
papers, every one was saving money
buying War Savings Stamps, while
everyone who refused was not buying
Them
Seventy-one out of eighty employees
at Alvah Bushnell Company, Philadel-
phia, saved and invested in Govern
ment Savings Stamps the sum OF
$4,000 in 1919. And for the month
of January, 1920, the same number
saved in stamps $4,000. Most of
these having paid off their Liberty
Bonds, turned to the Stamps. They
have the habit of systematic saving
aud safe investment.
"The Get the Habit letter has help
ed US to increase the membership in
our Savings Society over 100 per cent.
We now have over 80 per cent mem
bership. Our savings for the month
of January show an increase OF lzo
per cent over the best month OF las
year. This is gratifying to me, and
I attribute a considerable amount OF
this success to the timely work OF
organization" writes Mr.. Thomas Will
liam Dicker, Jr., Secretary of the a
iings Society at the Alvah Bushnell
Co., to the Savings Division Quarters.
1.-THE labor turnover is greatly re-