The Bridgeport times and evening farmer., 1921-05-23


 ton with the development of industrial saw ings and home economics.
 The Society for Savings of Cleveland had striking exhibit of the operations of it's home economics bureau. There was also an exhibition by the Western Saving Fund so- ciety of Philadelphia, illustrating its system of conducting sub-ofT1ces.
 It should here be stated in connection with the latter exhibit. that the States Of Penn sylvania and Massachusetts now permit savings banks, application, to install re- cciving stations Sar deposits in industrial plants. Not many banks have taken ad- vantage of the new law, but what has been done indicates progress.
 The posters are going out to factories throughout the State of New York, and in a short time doubtless will find their way into plants all over the Union- The design is not only to cali attention to the advantages or thrift but also to educate the working man and woman in the use of savings banks. Helping ETi,Iiars of Workers Who
 Never Entered Savings Bank
 Cautiously enough. there are millions of toiIers who never have seen the inside of a savings bank Who would conceive that within a stones throw of Uz1ion square, III the heart of New York city, is factory en- blowing 900 girls, the leaders of whom were scared out of savings bank where fhey had gone to open accounts? (BeleVers III d money trust, take note!) It seems that the factory managers are progressive and urged the employees to patronize q nearby savings institution Forthwith a number visited the bank, but speedily returned It was not only too imposing and awe inspiring for girls whose knowledge cf architecture had been derived from observation of dingy rooms in Allen street but the routine ques- tfons of the bank clerks were too much TOT some of the would-be depositoTs.
 The factory manager grasped the sltua- ton and offered to act as sgen. for the girls 1T, receiving their savings and 0epos1tng them in the bank This plan found instant approval, and for some time regular savings have been made .5rI this fashion.
 Similar conditions prevail in other cities At Waterviiet ] asked 8 Erinly fellow in a large steel rn!ii # he put money ii1 tha bank ''71o boss; it's too far t;fS-'- the aEiS7|e: 4 workman in 8 bleaching plant at Water ford said Et5at the savings I5&:lf YSllsE,t open a. convenient hours. In Frey 2 cellar turner told 1re that :: took too much time standing ir1 line at the bank on pay days. Obviously. the savings banks under their present node of operation do not meet the requirements oT the great mass oF workers.
 One Of the posters shown tha exhibit is designed to arouse interest on the part of the employer. It begins: "A bank within your organization" The employer Is reminded that he initiate a savings plan, and correspondence js invited with the Saw ings Banks Association. The -atter has industrial s5epar trnent whose purpose 1t is to assist the employer in bringing. in a friendly way. the facilities of inc rawlings bank to the employee Naturally there is
  ttrely free to save or not. The essence of the plan isfo offer each employee the coIot- tunity to save by 6 written authorization to his employer to deduct fzKn his pay specified each pay day and place 1t to his credit in q bank. E'he employee iE1di- cates if he wishes the passboos held by the employer, the bank hir:1self. Employees may, of course, at any lime make supple mental deposits and decraase altogether suspend the amount of treir oeductiCEs.
 While few employers have taken advaz1- tage of the plan, large corporation. the New York Telepnone Company, inalgurated 1t on March 10. Each of the 47o0e en- ployees in the State received ls'ter from the president announcing inc nam outlines of the project Within few days roc en- ployees Of the company sent it author1za- tions for salary deductions under tEis plan.
 Tn strong contrast with the progressive attitude outlined is the position taken by other large employers The president of one of the greatest railway systems said centy that he wouldn't take the trouble to put in any savings plan. If our workers want to save they can go to the bank" This truly is 8 remarkable view in light of the crying need for greater thrift and sta biIity in industry.
 mercantile house in New York city, employing 2.00o people. takes the ground that E. is useless to adopt a thr48t Sys- tenn, because tEe employees did not appre- ciate what the firm did for them when it consented to purchase Liberty bonds during the war ana permit the employees to sub scribe for them by wage deduction sys- tenn. Yet in the next breath the general manager Is fond Of telling visitors that he has S10,010 a year salesman who never saves a cent; that of his two stenogra- phers is always broke, and the other saves systematically and has a. nice bank account! Many Promoting Thrift Respite
 The Lack of a General System
 In spite Of a lack of general agreement on the best way to promote thrift in in duStry, however, the more open minded employers realize that a saving employee is more stable and turns out better work.
 At the Harlan plant of the Bethlehem Shipbuilding Corporation in Wilmington the Morris Plan has been effectively used Elm ployees make weekly payments toward the purchase of S10O instalment investment cer- tif1cates Throughout the country there are over 102 Morris Plan companies. They re- rort savings of SIS 100000 at this time. In January S750, 900 of savings were made in this way in New York city.
 Upward of 100 of the largest industrial manufacturing and transportation corpora- tions of America have adopted the National Thrift System. This may be described as a semi official institution, operated by the "a tional Thrift Bond Corporation, under the supervision of the Banking Department Of the State Of New York In the four years of it's operations several hundred thousand men and women for the first time have succeeded in saving a little money each week out of their pay. In this manner they have saved perhaps total of S15, ,000, 900, in cluding the Liberty bonds acquired by them through the system.
 The savings movement is an economic force making directly for social betterrnent It can be furthered bys teaching simple and attractive good sense and elementary eco