658 6. The money that a child deposits must be the product of his own labor or reach him from a right cause. 7. The circular ought to inform the teachers and the public in general that school savings banks managed by wise leaders will become a most salutary agency in education. Its main object is to encourage the love of labor and to make a good use of its rewards. This is best encouraged by a proper love of money, which is powerful for good, if conscientiously used. 8. On the Friday previous to the depositing day the superintendent or the principal may prepare a brief address to the pupils at the closing exercises, which should embody the advantages and benefits derived from the practical lessons of thrift and economy and the dangers resulting from investing their pocket money for a great many unnecessary things. He should then inform the scholars that their teachers will be prepared the following Monday to receive all the sums from one penny to one dollar, and that these sums will be deposited the same day in the local savings bank in the name of each depositor, who will receive a regular bank book when his deposits shall have reached a dollar or above. After dismissing the school the same day, the superintendent or the principal will call a meeting of all teachers under his supervision. He will inform them of the steps already taken for the introduction of the system, and will convert that gathering into a drill class, in which he will fill the rôle of teacher, and they the rôle of pupils. Having a set of all the blank forms adopted, he may explain their use and purpose, and teach them in fifteen minutes more than they could learn in one month's practice. He ought to impress upon them that the system, directed by willing teachers, can not fail to be successful, and that by conducting the transactions of that system with punctuality and regularity the teachers will foster a habit in the pupils of being regular and punctual in all their acts. work, the example of the teachers will bear a healthy influence on the scholars. "The In this special school exercise, as in any other regular school best and most important part of every man's education is that which he gives himself." (J. H. Smedley.) Any common-sense teacher who can husband his or her pecuniary resources, and who is able to save a little for future emergency, has the qualifications sufficient to give to his or her class, when the opportunity is afforded, some useful information, hints, and suggestions to carry on successfully this new branch of education, which is not the least important on the class programme. The teacher who has at heart the success of this undertaking will not blush to head the list of his or her pupils by his or her weekly savings, which will prove a great incentive to the pupils and a very available friend to rely on at the closing of the school to cover expenses of the summer vacation. With these preliminary informations disposed of, let us step into a class room on Monday morning after the bell has called the scholars to order. At precisely 9 a. m., the time which was formerly the signal to open the schoolbook, prepare the slate, etc., that day and hour everything commences with the collection of the money that the children have saved, which they now entrust to the care of the teacher, who marks it next to their names on the roll. REGULATIONS. In calling a name, the child must say if he has anything to deposit: "Yes, one cent," or, "yes, five cents," or whatever sum he has. He must immediately arise from his seat and deliver his money with his weekly card (see specimen No. 1, pp. 661-2) to the teacher, who counts the money and inscribes the amount in the Monday column of the roll book, and upon the weekly card upon which the name of the pupil, the teacher, and amount of previous deposits are inscribed. In calling the roll, if nothing has been saved, the scholar must answer "no," and the teacher makes a mark to that effect, at the same time marking the attendance. When the teacher has concluded calling the roll and collecting the savings, she or he counts the money collected in the class to see if the amount corresponds with the total amount inscribed in the roll book. If the amounts tally, the money is immediately sent to the principal in a sealed envelope (specimen 5, page 664). This ends the teacher's work, except that, with the collection of the last Monday of each month, he or she will send to the principal on this same day a list (specimen No. 2, page 662) of all the depositors of the class, with name and amount, to be credited in the savings bank to each depositor who has contributed to the school fund fifty cents and above during the month. Sums less than fifty cents, although kept in the bank to the credit of the principal, will be credited to the "general fund" until the scholar has reached the sum fixed. Then it will credited to the scholar's account. As to the principal: He receives immediately after collection, in a sealed envelope, the amount collected by each of the teachers separately; he does not require a special book; the printed form (specimen No. 2) and received at the end of each month from his or her teacher is sent to the bank with the bank books of the pupils who have contributed fifty cents and above. That same list is returned the week after, from the bank to the principal, with the bank books of the pupils inscribed in the list No. 2, cited above. So, these monthly lists in his possession take the place of a special book. But, if he desires to keep a separate book to inscribe the weekly deposits of his or her teachers, the specimen No. 6, page 664, is well calculated to meet that need, and to save expenses can be easily made by hand. As for details of the weekly deposits by individual pupils, if he needs them, he can secure them by borrowing the roll books of the teachers. These roll books are the property of the school, and as such are preserved by the authorities as official records are. At the first general deposit of the money of a school, sent to the bank by the principal, he receives in return a bank book in which is recorded the total amount deposited by all his teachers. When money is deposited, a bank ticket (specimen No. 3, page —) must accompany each weekly deposit to the bank. This ticket No. 3 is also used by the teacher in connection with the deposit list No. 2 at the end of each month by inscribing thereon the number of bank book, amount to be deposited, and name of pupils, and sending it with the pass books to the bank. Though the bank books of the scholars are sent to the bank once every three months for balancing, the principal need not send to the bank the pass book of a child who has not deposited fifty cents and above during the past three months. At their request, the principal will allow the little depositors to take their bank books home once a month, say on Friday, to be returned the following Monday. At vacation, or when a pupil leaves school, the bank book will be surrendered to the child, who may deposit or withdraw money directly from the bank, the cashier acting during the vacation for the principal. At the reopening of the school the principal will request the cashier of the bank to furnish him a list of the school banking operations performed during the vacation, and will inscribe upon his own journal the amount deposited or withdrawn by each pupil during the above vacation. With the view of reducing the clerical work in the bank and at the same time remedying the inconvenience caused by some depositors living far from the savings banks, the superintendent or the principal may receive on Monday morning, day of collection, the applications to withdraw part or all the money in the bank of scholar depositors. The superintendent or the principal will pay the checks presented with some of the money already collected that day, and will send such receipted checks (see form No. 4, page —) to the bank with the collection of the day. The amount of these checks will be received at the bank as cash and entered in the account of the principal or superintendent, and charged to the individual account of the depositors interested. The superintendent or the principal, acting as the de facto treasurer of the school, should render, at the end of each school term to the board of education, at its regular meeting, an account of all the banking transactions in his school during the term ending, stating the work done, number of depositors, amount deposited, withdrawn, and remaining due depositors, followed by remarks upon the advantages or the inconvenience offered by that system from observations taken during the last school term. THE PART SAVINGS BANKS PLAY IN SCHOOL SAVINGS BANKS. Now that we have described the details for the introduction of the school savings bank system, let us step into a savings bank which has arranged to receive the deposits of the scholars. Savings banks are regarded as benevolent institutions. Their object is to receive the savings of the working people and invest the same for them and make these savings earn money as well as labor does. The doors of savings banks are open to the people of all ages, color, and nationalities, and the healthful influence in the community is extended even to minors. In many cities and towns of our country, the savings banks have opened their doors to 20,974 pupils of 158 schools of America, and they have already received in deposits during the last few years $97,816.73 by the intermediary of teachers who act as their trustees in a certain measure. The moral influence derived from the gleaning of so many pennies, which previously were spent for unnecessary things often injurious to body, mind, and soul, is enough to make all those who are willing to see the future citizen more industrious, law abiding, and useful to himself and to the State, rejoice and assist in carrying on the good work. Drop into a bank on a Monday forenoon, which is lending a helping hand to this new juvenile and economic educator, and you will see enter a school janitor with a smile upon his face, and a box or a parcel under his arm, which contains the collection of the pennies saved during the previous week by the pupils of a school. The contents of these boxes and parcels contain many silent stories. It is a sowing of the seed which will produce a hopeful harvest. THE LEGISLATION OF SCHOOL SAVINGS BANKS IN CONNECTION WITH THE BANKS WHICH ARE WILLING TO RECEIVE THE DEPOSITS OF THE SCHOLARS. When the trustees of a savings bank have offered their coöperation to the school authorities to receive the deposits of the scholars by the intermediary of the superintendent or the principal of the school, it is advisable: 1. That the bank have a special ledger to record the scholar deposits, providing the number of depositors will amount to 500 and above. 2. That the bank give to each of the superintendents or principals sending the weekly collections to the bank, a separate bank book. The superintendent or principal will fill out a deposit slip (as sample No. 3, page 663) for the amount received from his school each Monday morning, then send the money together with his book and slip to the bank. The amount will be placed to his credit. The scholars having contributed one dollar are entitled to receive each a bank book, and as such, his future account in the bank will be treated the same as any individual account. The monthly list (sample No. 2, page 662) drawn by the teacher and sent to the principal with the collection of the last Monday of each month will include all the names of the several scholars with amounts which they are to be credited with. The list of all the teachers of a school will be sent to the bank by the principal. It is from these lists that the cashier of the bank will enter on each pupil's pass-book and on the bank's ledger the amount to be credited on the pupil's pass-book. The total monthly amount of the several lists of the same school will be deducted from the principal's pass-book and charged on the bank's ledger to the superintendent or principal's account, they giving a check for the same." The above manner of transacting school banking affairs has been in operation in a great many schools and banks the past few years with success, but by way of reducing the clerical work in the banks, it is advisable that a bank having 2,000 scholar depositors and above, their weekly deposits should be allowed to accumulate and the transfer to the pupil's pass-book take place only at the end of every quarter. This question is left to the judgment of the school and bank authorities as also the one relating to the interest to be allowed to scholar depositors. In most of the post-office savings banks in Europe no interest is allowed to individual depositors for sums less than five dollars, nor for a period less than a month. The average rate of interest is 24 per cent. In Italy the savings banks do not allow interest to depositors. In concluding the above remarks relating to school savings bank legislation the writer may add that he has run slightly over the most vital points, but, of course, some of its minor details will be always left to the judgment of school and bank authorities and to the discretion of superintendents and principals. The rules laid down here for the limitation of weekly deposits, as well as the amount fixed entitling a pupil to receive the regular bank book, may be altered so as to make them compatible with some local peculiarities. But under any circumstance the time fixed to receive the savings of the scholars can not be changed, viz, precisely at 9 o'clock every Monday morning at the opening of the morning session; if it should be decided to have the collection of the savings taken outside of school time, or even to allow an officer of the local savings bank to interfere in the school rooms with the collections, better not to introduce the system, for it would be unfair to overtax the teacher, and at the same time deprive the scholars of their recreation time. School banking being considered as an important factor in education must be prac ticed under the supervision of the teacher and in conjunction with the other school work. The presence in the school of an agent of the bank to collect the savings of the children would rob them of the educative value expected. Though the writer did not intend at first to indulge in criticism, nor in laudation, he considers as a matter of justice and fairness to acknowledge before all the friends and advocates of school savings banks that from 158 schools of 34 cities of 7 different States of the Union which have adopted the system, none has shown more enthusiasm for the cause than the school boards, the superintendents, principals, and teachers of the 48 public schools of 9 cities of the State of Pennsylvania, who have inaugurated the system since December 30, 1889, in less than a year. The coöperation and liberality of the officials of the banks in that State is also unprecedented. A FEW WORDS ABOUT THE BLANK FORMS ADOPTED. • Out of 1,065 school banks now in practical operation in schools of the United States, 532 are using the blank forms which we describe in the following pages. These forms have been considered by the most competent judges superior to those now in use in Europe. The 216 school banks in 48 schools of the State of Pennsylvania have also adopted the same forms. The writer has no doubt that in the near future these forms will receive an official recognition, because they seem to cover all the ground for the practical working of the plan. The roll book is the first needed form. It is not necessary to represent it here. Any system of roll book will answer the purpose for recording the school savings bank here. PRINTED FORM No. 1. (Outside; for inside form see p. 662.) Pupil's weekly card.—This card is given to the pupil when he makes his first deposit, and the name of the depositor, the teacher, and the amount deposited must be inscribed thereon. The scholar retains the card and it must be presented every Monday if a deposit is to be added. The cards are generally furnished by the school board. In the hands of the scholars such a card has proven the most efficient means of inducing them to make a start in the work of saving and continuing it afterwards: "Take care of the pennies and he dollars will take care of themselves." One cent or upward can be received by the teacher. When a pupil has a deposit of one dollar or more, a bank book will be given free of charge, from the bank. Deposits should not be withdrawn till amount reaches $3, except in case of sickness or removal from city; but if the deposit should be withdrawn, and the amount has been less than three dollars, the bank will charge ten cents for the bank book. Deposits of one dollar and over will bear interest quarterly. During the summer vacation of the school, deposits may be made or money withdrawn from the bank direct, the cashier acting during that time for the teacher. "The masses know how to earn better than they know how to save." "Good principles and good habits are in themselves a fortune." Copyright to J. H. THIRY, Of Long Island SCHOOL SAVINGS BANK OF LONG ISLAND CITY. THIRD WARD. Account with ERNESTINE E. MCGEE. EMMA LAWRENCE, Teacher. Depositors are requested to keep this card always clean, remembering that cleanliness is next to Godliness. "The habit of saying is an essential part of a true practical education." This list is sent at the end of each month, with the last collection of the month, to the superintendent or principal by every teacher of a school, with the bank books, and must contain the names of the depositors and amounts collected during the month, to be credited in the bank. These lists are sent to the bank by the superintendent or principal whenever transfers to the children's bank books are to be made. These same lists are returned by the bank to the superintendent or principal a couple of days after, with the pass books of the little depositors, who are allowed to take them home the last Friday of the month, to be returned the following Monday. DEPOSITED in the LONG ISLAND SAVINGS BANK, to the credit of the following pupils of Grammer B Class, Third Ward School of Long Island City. |