The Washington times., 1925-08-15

OFFERED BY
BANKS
Financial institutions Spend
Literally to Preach Doc
trine of Thrift
By RICHARD HATTOM

- BY RICHARD HATTOM
Few people look upon bank as
an educational institution. Possibly
bank officials, themselves, do not
consider their work in any way re-
lated to education in the generally
accepted meaning OF the term. The
only degree a bank can confer is
the degree Of comfort and assur-
ance as to the future which must
come to every man or woman who
knows that there Is a stable saw
ings account resting securely in
some strong financial institution.
But, taking life as it comes. this
degree Is worth more to q greater
number of people than are the
degrees OF Master of Arts. bachelor
of Science and others that the stu
dent earns in his university course.
The edIica9ion which comes from
connection with a reliable hank
IS. one Of the gn1ost important fea,
lures Of American life. Possibly
the most important thing that
banks and bankers ARE teaching the
American public today is thrift, the
habit Of saying. Every effort is
made by banks to promote the habit
OF saving among their customers.
Great sums of money are expended
yearly by financial institutions in
telling the story of the advantages
OF q savings account and reliable
banking connection.
Preaching Thrift
The average citizen would be
vastly surprised 70 learn the amount
OF the yearly bill for teaching the
public that 1t is better to deposit a
part Of the weekly wage than to
spend It all every week. Hundreds
OF publications, from attractiveIy
prepared magazines, through week
ly pamphlets down to the ordinary
hand btlI are printed and distributed
at the expense of our banks for the
sole purpose Of carrying to the
public the doctrine OF thrift, of
setting aside something for the
rainy day or old age.
Naturally, banking is a business
and 1t is automatic that advertising
Il one of the vital elements of
business life. Therefore, it may be
said that in spreading the propa
ganda OF thrift the hank is merely
advertising itself. Such a con-
clusicn. however. would be mis-.
take. There is something far more
aitruistic. far more unitarian. in
the average bank advertisement
than merely an attempt to gain
new business. To be sure. the more
business q bank handles. the more
its stockholders prosper. This is
perfectly just because a bank is
q business and not a charitable
institution and those who have in
vested In bank st6ck, who have
made bank accommodation possI.
bic for thousands. have the right
to receive a proper interest on
their investment.
An Educational business
But, II banking is business It
IL an educational business, utili.
tartan business, and the hundreds
Of thousands Of pieces of literature
spread from one end of the couss-
try to another by banks that are
conducting. through this means,
one of the largest correspondence
schools in the world, constitute
complete course in thrift whcih. If
learned by the millions Of possible
students, VIII Be worth quite as
much in the years to come as is
the average college education to the
average student.
4ASES are luuuu1STaDl0 examples
they may be found by consulting
any ban wherein reading a bank
pamphlef or q bank advertisement
has resulted in the starting OF a
savings account which has de.
veioped to such an extent that the
depOsitor reaches an old age of
independence instead OF years OF
dependence.
Possibly the highest degree of.
fered by the great banking univer-
gity IL that OF "A. t." assured in
dependence. There. are few people,
indeed, who would not prefer the
degree of "A. L. to that OF "a. B."
or n. E." or "Ph. D." or &C. E."
Fertunatiy, however. it Is quite
possible for those who desire more
than one degree to win the "a. IL
along with the academic .designa-
tions. ALL that is necessary is to
pursue the courses in thrift and
savings and wise investment Of
fered by the banks to graduate into
perpetual economic security.
It has often been said that Il.
nance has no soul. This is but one
more OF the great misconceptions
OF life and Of business. The aga.
demic- educational institution is tiss-
ignated the Alma Mater, the Soul
Mother. and it's degrees are held to
be a great, honor by those who
have won them through years of
application. 1t would seem that
there might well be equal honor IN
winning the degree offered by the
banks, the degree of assured indie.
pendence, and that nothing could
come nearer being the Soul Mother
to the average human being than
the institution which made this de.
gree, possible.
Bank literature, hank advertising,