Show SCHOOL SAVINGS BANKS A million and a quarter dollars is on deposit in school savings banks in the united states according to a bulletin just issued by the bureau of education this money is distributed among pupils who thereby learn lessons of thrift for use in later life belgium has the honor of originating igina ting the school savings b bank a system t according to the Lul bulletin letin prof laurent of ghent belgium iii in 1873 began the work among s children for amelioration of poverty and the improvement of individual and national life his work soon attracted attention of the leaders of education in other countries A native of belgium john henry thiry put the school savings banks on a permanent footing in the united states mr thiry established banks in long island city N Y and the new york schools under supt bupt maxwell have been among the most successful advocates of the system mr efforts in behalf of school savings banks have been continued since his death in 1911 by mrs sara louisa of philadelphia who has aided in the compilation pi lation of the bureaus bulletin on the subject several methods in vogue for collecting and banking the savings of the children are ed usually the cooperation of a well established savings bank in the school community is first secured forms and blanks are provided by the banks when the amount reaches one dollar the child is given a bank book and becomes through the school a regular patron of the bank when the deposit reaches 3 or 5 as the banks bank select elect it draws interest at 3 or more per cent among the cities where the school savings banks have lone done notable work are pittsburg pa where over has been deposited since the introduction of the system chester pa has now on deposit over toledo ohio established the system in 1911 and has deposited since then over with reported as still on deposit atlantic city N J has on deposit over pupils in grand rapids mich deposited in the several years s since ince establishing the bank and have drawn out in that time only the bulletin suggests that there can be a stimulating relation between the U S postal savings system and the school all over 10 years of age children who have spent their pennies and nickels in candy shops and are 10 years old declares the bulletin are not likely to hold their cards until aey they accumulate the 1 to be exchanged for a certificate of deposit school savings banks are needed to prepare young people to profit by the postal savings banks |