The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1921-07-07
EDUCATIONAL.
(By LILLIAN l.. CHLoUPEK)

Every public school well might in
clude in the education of children a
little instruction upon the folly of
boarding money at home instead of
putting it in a bank But the frequency
with which persons who do keep their
savings in banks are robbed because
they carry large sums from the bank
shows that the education of the bread
winner is incomplete unless it includes
instruction upon the value of checks to
safeguard savings.
The ease of Felix lombard, an Ital-
ian laborer, whose pocket was picked
of 800 which he had withdrawn from
a Chicago savings bank to make first
payment on home is a pathetic illus
tration of misfortune that is not rare.
A business man does not draw money
from a bank, put the cash in his pock ct
and proceed with it to a place of bust
ness at which he is going to make a
payment He writes a check, payable
to the order of the individual or firm
or corporation as the case may be. The
money is not exposed to the rapacity
of the pickpocket or highwayman,
Savings accounts are more numerous
in the United States nowadays than
they were formerly Wrecking of say
ings banks by defaulting officers has
become q far less frequent cause of
losses to depositorS, The patron of the
savings bank-a valuable citizen whose
interest should be Safeguarded in the
interest of general welfare has pro
lection under the law which he did not
enjoy formerly. But unless he uses
checks instead of withdrawing cash
from a savings bank and carrying it
about in his pocket his thrift may come
to nothing,
The habit of making payments by
checks upon an open account at bank
is pretty well developed. 1t is an cx-
cellent habit Every check which has
been through bank in payment Of bill
is a receipt, as well as a memorandum
which may be at some future time in
forming to the man who signed it. De
postors in savings banks, because their
accounts are not checking accounts: he
cause their intention is not to check
upon the savings account save when
using the fund for investment or for
som, other important end, haven't the
habit of writing checks,
Banks cannot be too Jealous in max.
ing it plain to the depositor in the saw
ings department that checks are safe
and that Withdrawing cash and carry
ing it about is unsafe There can be
no better educatiyc work for the in
crease of savings than that which inn
plants in the mind of the thrifty fear
of the consequences of carrying cash
instead Of using checks.
Any depositor of savings can so ar
range that he need not withdraw cash
to make an investment. He need not
withdraw cash for travelling expenses
if he is a European who has saved TO
provide the means for visit to his
former home With check upon a
bank he may buy travellers checks
which ma" be used to buy ANYTHING
from steamer ticket to luncheon in a
railroad station. His cash may be kept
safely under cover.
The losses Of those whose savings go
to pickpockets or highway robbers, aft
er having been withdrawn from banks
are avoidable as easily as the losses OF
the misguided savers who keep their
money in a sock under the floor and
lose it in a residence fire or hide bank
notes in an unused stove pipe from
which they go up in smoke when some
one builds a fire in the stove