The Washington times., 1926-09-07
VACATION EAT IS
Up SAVINGS
BY RICHARD HATTON

Where is your money?
What has become OF the earn
ings OF the last 365 days2
Have you any more money to
day than you had one year ago?
What is your standing with youl
bank?
The end of the simmer vacation
season has been reached and most
people are now settling down to
the long period Of hard work which
means q regular monthly income,
According to some authorities the
general tendency of the times is to
assume greater financial obligations
than can be conveniently carried
to the end that the margin of safety
Is reduced and the available bank
balance is below the normal amount
that should be set aside out of the
monthly income.
Tt is said that during the sum-
mer months many have reduced
their bank balances in order to
clear off old indebtedness. This
is a healthy sign. It is not a
healthy sign IL bank balances have
been reduced in order to take on
oyer-burdensome debts. Investment
IS proper when made with caution
and when only reasonable amount
Of income is pledged for periodical
payments.
Investment may become disastrous
&c made at the expense OF savings
account or q comfortable checking
balance in q bank.
Like Row Of Blocks
Al prominent local banker stated
kecenfIy that the general tendency
to assume exceptional financial
Oblieations had resulted in q condi-
ton which might be hkened to q
row Of blocks which win stand per.
kectIy upright until the block at
the end OF the row falls. Then
down go all the blocks in the row
and the little fellow with only q
few dollars to drop finds that ne
has lost it along with the general
npsetting Of the entire row.
This condition, this upsettlng OF
fhe row OF blocks always follows q
period OF initiation. When the row
Kunables, there is no better or more
certain salvation than g savings ac-
count or q maintained balance at q
bank which entities the depositor
Is that consideration and assistance
that only q bank can render in
kimes Of stress.
II has been asserted that $80,0O0,-
300 was spent in the State OF Maine
alone upon summer vacations. Many
times $s0, ,000, 900 was undoubtedly
spent by the people OF the county
IInon their summer pleasures. There.
Is nothing wrong with this spending
provided the income for the rest
i,f the wear was not nortgaged
iInon q few weeks OF enjoyment.
nhere is something radically wrong
With the American people, how
ever, if millions upon millions OF
hoIlars OF savings deposits are being
spent upon pleasure at the expense
81 permanent saving aecounts
With the return Of the more nor
hal days OF the fall and winter sea-,
son there comes again the thougnt
f the Christmas saving account,
the vacation savings account Tor
he-4 year. These are excslleat saIe-
guards and many Washington banks
Rffer special accommodation to
those who desire to adopt this
method OF providing for the Yule-
ETde holiday expenditures or the
hext summer,s trip. It is tar bet
Ter to have the cash In advance
than to mortgage the following
years income. 1t is better to make
10 debts than to spend y year
sIearing of a dead horse. !"
Need Regular Savings
Tn addition to the special savings
kccounts. however, no family can
feel financially secure, can claim
h be making economic progress,
hnIess ii Is carrying permanent
kayings account that is growing
month by month, accumulatlng
Regular interest and providing that
kreat element In business stability
Ind community standing, the con.
lidence and backing OF q recognized
financial institution.
Possibly the savings OF lase year
are ali gone. Maybe the vacation
trip or the unnecessary luxurles
were worth It. That Is matter
Of individual opinion. Possibly
some people find stimulation IN M
aebtedness that saps their weekly
wage or their yearly income. Tne
great majority Of thinking people.
however, realize the advantages OF
systematic saving. To these sub
etantial citizens the banks Of Wash
sngton offer most attractive posi-
bilities.
A regular savings account, a
Christmas Savings account, a Va.
xGaLlOue SdN1U8B ACSOOHbs All -
them, or any one of them lead
b.way from the dread specter Of
debt, from the enervating bug-a-boo
OF the dead horse" and, eventually,
to what is. possibly, the greatest
Of all human comforts, financial
Independence and an assured
future.
These are matters worth con-
eidering. worth consulting q banker
about now that playtime Is over.
Read the financial advertisements,
select q good bank, start an ac-
count Of some kind and step out
along the road to peace Of mind
and independence.
President Francis M. Savage, OF
the Central Savings Bank, spent
the holiday on the Eastern Shore
OF Maryland.
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