Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1923-01-18
SAVINGS ACCOUNT FOR ALL
CHILDREN URGED BY PARKS
State School Superintendent
Says Thrift vii! Engender
Spirit Of. LiberaIity in Later
Years
A savings bank account for each

A savings bank account for each
child in every family in Georgia"
was urged Tuesday in an open letter
to. Georgia parents from DIR. NJ. M
Parks, state per!ntendent Of
schools, who called attention to the
fact that Wednesday is the ami
versary of the birthday of Benjamin
Franklin, the great apostle Of
thrift and frugality.
The child who learns self-denial
and self-mastery probably will have
mere inclination for liberality in
later years than the spoiled child
who selfishly spends everything on
himself and who denies himself moth
ing" said DR.. Parks.
"wednesday, January II, is the
anniversary of the birthday Of Ben
jamin Franklin, the great apostle
of thrift and frugality. On this ap-
propriate occasion, let me urge par
ents of Georgia to encourage their
children in thrift. If possible every
child ought to have an account in
the savings bank.
HAS your child learned one OF
life's great lessons-the lesson OF
self-denial? Has you child learned
to practice thrift? Has your child
a personal savings account in the
bank? If so, 1 congratulate you. II
not, let me urge the establishment
of an account as soon as possible.
MAY / tell you of the practice
in our own family? We have four
| f,hjl6rpn Tim nIpUn1
old Each one has his own person
al savings account. We began ear
| ly. When the child was one year
| old, I went to the savings bank and
| deposited in the child's name 81
When the child was two years old
1 deposited 81. When the child was
three years old, 1 deposited SO. When
the child was four years cd, I de
posted 81. When the child was five
years old, 1 gave the child a check
for SIS and, accompanying the child
to the bank, showed the child how
to deposit the money.
Children Learn Early
And so, each child in our home
on the birthday among other pres
ents always expects for it's savings
account a check for as many dol
lars as the child is years old. The
| eleVenyear-old child gets $11. The
| twenty-five year old boy gets 500
| dollars and so on, This particular
| birthday check is never speint--it is
understood from earliest childhood
that this particular birthday present
must go in the savings account and
| that the savings account must not
be drawn out or spent until the
child is twenty-one or older.
1.-The young child likes the plan
and the plan sticks. Train up a
child in the way he should CO.
"Other savings are added from
time to time. Some Christmas pres
ents are in money and frequently
they go to the savings account. The
| boys earn extra money, which goes
to the savings account. Sometimes
the boys were told that for every dol,
lar they would make and put in the
savings account another dollar would
| be given them.
"The plan has worked we'll. The
children have learned to spend and
to save their own money. They have
| enjoyed the responsibility and the
success. The parents have scarcely
missed the donations, spread OUT as
| they were over so many years. AnG
now each of the five children has
over 81 900 to his or her credit. The
| boy who graduated at college CAME
out with his diploma and with his
| training in savings and with his per
sonal bank account still over 1900
Even the little eleven-yearold girl
has over $1,000 to her credit, Santa
Claus and relatives having helped
her on her bank account. She re
Gently remarked that she believed
| she had enough money to buy three
Ford cars and pay cash. And all
| her accommodations began with the
81 present put in the savings bank
on the day she was one year old
| Just ten years ago.
IF the 81 900 is left untouched
and not drawn from or added to,
then the 1000 at 4 per cent com
pound interest, in eighteen years
would amount to $4,000. When the
child becomes forty-seven years of
age, by compound interest it viii
amount to $4,000. At the age of six
tyefive years it,will amount to $4,000,
and if the child lives to be as old as
Mrs. FELTON, the 81 900 at per cent
compound interest will have grown
to $4,000.
Not Selfishness
"a proper spirit Of saving and self
mastery does not mean selfishness.
Several years ago the little girl was
offered her choice of two coins hid
den in a clasped hand. She said, 1
will take the smaller, papa, and let
you have the larger. When the
hand was opened, there appeared a
nickel and dime, and according to
her choice the dime was hers. But
she refused to take the dime. She
took the nickel and left the dime.
saying: I will take the nickel, papa,
because since you have so many
things to buy, you need the money
more than I do
Pardon these personal illustra-
tons. But in our family we have
received so much happiness from the
children's savings account, that J.
wish many other fathers and moth
ers would try the plan
1T is said that many Of our Geor-
gia children at home, at school, ana
J,,Ir Lonh