Evening journal., 1922-12-23
SCHOLARS SAVE
WHILESTUDYING.
10,587 Students Have $9,6O2
to Credit in School Thrift
Bank
DIR. WARD SENDS
REPORT TO BOARD

Wilmington's school children are
. establishing a record ip thrift. ac-
cording to the report OF DIR. David A.
Ward, superintendent OF schools. Re-
port on school savings as presented
TO the board shows that IS per cent.
Of the $4,000 school children are
practicing thrift and while there has
been but six banking days. deposits
so far total s9,6O2.69 with 10,5S7
accounts.
DIR. Ward in his report on the
thrift program said:
school banking as a method OF
teaching thrift has developed within
the last few years. In the system
attic saving OF money in bank ac-
count encourages the habit OF thrift
and contributes to the development
of better citizenships.
THE growth of school banking
has been very rapid within the last
four or five years. The year 1921
22 there were more than a million
pupils carrying individual bank ac-
counts in the United States. These
accounts were distributed in all
parts Of the country and represent
400 school buildings, in which
regular banking systems were in op-
Grafton.
There has been a tendency to
standardlze the methods of banking
along two lines-the convenience OF
the teachers, and the protection of
the pupils A special committee rep
resenting the savings bank division
OF the American Bankers Associa-
tion made a careful study of exist
ing plans with a view to developing
a standardized method. That com
mittee's report, which was adopted
by recent general convention OF the
association, states the following
principles:
q. A passbook system. which
will be operated by actual collections
of money in the schools on certain
days OF the week, the amounts TO be
entered in a school folder, or school
passbook
-. The transfer OF these school
b funds to be made to individual ac-
counts opened at the bank, after an
acceptable amount has been accum-
g. The active cooperation OF.
teachers, with an optional feature
whereby high standing pupils may
act as tellers and cashiers within the
respective grades. in order to relieve
the teacher OF the detail duties re-
quired.
-. No recommendation is made
for any particular passbook system,
but II the secretary OF the savings
bank division is requested 10 furnish
a complete system with forms pre-
pared. he can recommend any plan
that complies with the above re-
quirements and that meets with the
approval Of the executive committee
Of the savings bank division.
"5. 1t is recognized that any
complete and detailed system with
all official forms prepared would be
impractical at this time. and that Il
Is better to reach an agreement on
the general principles OF school saw
ings as viewed from information and
statistics already collected. leaving
some room for Improvement
The Wilmington school savings
system began operation on Novem-
Der 10, which was the first bank day.
"Fhe system in operation in Will
mington conforms in method TO the
principles adopted by the American
Banking Association quoted above.
1T is worthy OF note that the Ar
tisans' Savings Bank. after a very
careful investigation OF the methods
and success Of school banki.g in
other cities consented to undertake
the handling of this work, knowing
that II would be necessary to operate
the system at a financial sacrifice,
at least for a considerable time. Il
is highly commendable, when a
banking institution is willing to In
crease its expense and enlarge Its re-
sponsibilities without a prospect OF
immediate financial gain. In operat-
ing the school savings system this
bank opens the opportunity to thou
sands OF children TO form habits OF
thrift, which will contribute to a
higher standard of citizenship in
and its officers are wor-
thy Of heartiest congratulations for
the far-sighted and generous public
service being rendered by this insti-
tuition"