PRINTED FORM No. 3.

This is the ordinary deposit slip used by both principal and teacher. By the principal, in sending to the bank the weekly collection of his teachers, with the bank book he previously received from the bank in making the first deposit for the school under his charge. The bank book of the principal indicates the total amount the school is credited with to the bank, and also serves to free him from responsibility. Although he deposits the money of the school in the bank, he can not personally withdraw any. The same slip is also used by the teachers at the end of each month to inscribe on it the amount deposited by each pupil. Such slip is to be placed inside of the pass book of each depositor and sent to the principal who forwards them to the bank. The bank officers inscribe only the deposits in the bank books of the scholars and not the teachers nor the principal.

The blank check is delivered by the principal to the owner of the pass book who wishes to withdraw part or all the money deposited. The pass book must be presented to the bank with the check signed by the owner of the bank book, his parents or guardians, and the principal, without which the bank will refuse to pay the money called for.

THE PASS BOOK MUST BE PRESENTED WITH THE CHECK.

As soon as the savings of a class are collected, counted, and found to correspond with the total in the roll book, the money is put in one envelope, sealed, and indorsed as below, and sent to the principal, who makes the list of names and amount collected by each teacher. Six teachers, six envelopes (see Form 6 for principal's list). The total amount is recorded on a check, as No. 3, and sent with the money and his bank book to the bank, which bank book is returned by the deliverer of the same. At his leisure

time the cashier of the bank breaks the seal and counts the money. Generally the school janitor takes the money to the bank. Thus far no error or trouble has been experienced, although the system has been in operation five years.

This blank form has proven to be the most concise and efficient form for the principal or superintendent to keep the record of the weekly deposits of the teachers. It has been in use in the Third Ward school of Long Island City, by its principal, Mrs. Mary E. McGee, since 1885, and it seems to answer in every respect the needs of the superintendent or principal.

BANKING.

Third Ward school of Long Island City, September 9 to October 7, 1890.

NINE SYSTEMS OF TEACHING ECONOMY TO THE YOUNG AMERICAN.

1. The school savings-bank system as in operation in Long Island City, the basis of this pamphlet, will probably survive all others, and has, in fact, furnished the groundwork for the other systems now in vogue.

2. In 1886 the Provident Savings Bank of Baltimore was incorporated by the legislature of Maryland. The directors have adopted the stamp-deposit system which is yet in use in a few benevolent societies and Sunday schools of England and Germany. The lowest deposit is 10 cents. The deposit stamps are of the denomination of 10, 15, and 25 cents. One dollar of stamp deposit entitles the investor to a bank hook; $3 bears interest. The writer may venture to say here that if the board of education had agreed to introduce into their schools the school savings-bank plan, as has been proposed, and if the local savings banks had not refused their cooperation the directors of that institution might also have adopted the Long Island City plan. However, the stamp-saving plan has proven to be a success.

3. 1887. In the Pennsylvania School Journal for April, 1890, a description is given of a new system in practice in the schools of Pottsville, Pa., due to the genius of its principal, Prof. S. A. Thurlow. This system, though valuable in principle, could not conveniently be adopted in all localities. In many respects that system is built upon the same plans which regulate the transactions of the building loan associations. The eighty-eight scholar depositors (April, 1890) are stockholders. From the date of the organization, 1887, to April last the sum of $1,500 has been invested in stocks and deposits. Certainly such a system has some advantages if the school time allotted for intellectual culture or recreation is not impaired by the transactions of that association. Though the originator of that plan deserves public recognition for his endeavors in the cause of edu

cation, yet that system has objectionable features, for the consideration of which the writer asks to be excused for want of space.

4. November, 1888. The Penny Provident Fund of New York, was inaugurated November 15, 1838, by the Charity Organization Society. The Baltimore system was adopted. The deposit stamps are of the denomination of 1, 3, 5, 10, 25, and 50 cents. That society has 75 branch stations in New York. Up to July 1, 1890, $7,014 remained on deposit and there were 15,000 depositors. Three-dollar stamps entitle the depositors to their full value in cash, which he can deposit in any savings bank of his choice.

5. June, 1890, Detroit, Mich. Began the stamp-saving system also upon the plan in practice in Baltimore. Its introduction is due to the efforts of Mr. Edwin F. Mack, cashier of the People's Savings Bank, and under the management and supervision of that bank. One-dollar deposits and above draws interest. The following papers commend the system: The Detroit Free Press of September 13, and November 2, 1890; the Sunday Herald of Boston, October 5, and the Philadelphia Press of October 10, 1890.

6. October, 1890. An association called the "Stamp Saving Society," composed of a few prominent citizens of Boston, has introduced (October 15), in that city, the stampsaving system upon the plan in practice in New York. (See American Banker, October 16, 1890, and Philadelphia Press of October 10.) No interest is allowed on sums less than three dollars.

7. October, 1890. Mr. J. Butler, cashier of the People's Savings Bank of West Bay City, Mich., introduced the Baltimore system of stamp savings in his city. (See American Banker, October 4, 1890.)

8. In the School Bulletin of Syracuse, for October, its genial editor, Mr. C. W. Bardeen, informs his readers that in his next number (November) he will give the text of the interesting pamphlet of Prof. John McMullen on "School Money." Mr. McMullen describes a school bank established some time ago in his school, where four of the oldest boys were appointed president, cashier, etc. Paper money was used as a medium for the transaction of business among the scholars. The merit of that system consists in its originality and the perusal of that pamphlet could not but give genuine pleasure on account of the pleasant and witty way in which he has described the method. 9. Pratt Institute, Thrift Association, Brooklyn, N. Y. The popularity of that institution does not need description. It is sufficient to say that there the young people's instruction is based on an appreciation of the dignity as well as the value of intelligent handicraft and skilled labor. It endeavors to give opportunity for complete and harmonious education, in the embodiment of which the inculcation of the habit of thrift and self-reliance is one of its valuable features. As the majority of the pupils of the institution are ready, in leaving the institution, to enter in the world's activities, a system has been devised to meet the need, and one higher in character than the one used in the public schools. Below is a summary sketch of the practical working of that system:

In the early part of 1889 nine prominent and responsible business men who have proven their ability to successfully manage large enterprises, formed the Thrift Association. The aim of the association is to aid in the work carried on at the institute, but it is not conducted by the institute nor responsible for its financial transactions, though the firm of Charles Pratt & Co. have executed a bond in the sum of $500,000 to indemnify and protect all persons having financial relations with the Thrift Association. The object of the association is to promote habits of thrift to help people, especially the young, to become prudent and wise in the use of money and time.

In

The plan adopted has much of the feature of that of the building and loan associations, with the exception that it offers more security for depositors. The investing shares of the association, to which no liability attaches, are $150, payable at the rate of $1 per month for ten years. The monthly payments on each share amount in ten years to $120, and the accumulated interest at the rate of 5 per cent. per annum to $30, making $150 in all, in addition to which, provided the installments are regularly paid, each share, at the end of ten years, will be entitled to a premium of $10 more. other words a monthly payment of $1 will amount, with interest and premium, to $160 at the end of ten years, or about 6 per cent. per annum on the subscription paid to the association; $150 in one sum pays up a share in full, and when this payment has been made the interest is payable half-yearly at the rate of 4 per cent. per annum, the holder being entitled, at the end of ten years, to the same premium as that received by persons who pay for their shares by installments. The shares can be withdrawn at any time. Shares may be held by minors and any person, whether connected with Pratt Institute or not, is entitled to the benefit of the association. They contemplate the introduction of stamp savings for young scholars.

Those who are interested in the welfare of the rising generation may watch with interest and profit the progress of such an association with the view of extending the benefits to other institutions.

STATISTICS OF THE SCHOOL SAVINGS BANKS IN EUROPE.

An accurate table of the operations of school savings banks in Europe would have proved a valuable adjunct to this contribution, but the writer will give below what he has been able to reach:

Italy. Statistics to December 31. 1888, from official report of 1889: 5,401 post-office savings banks; 87.764 depositors; due to them, $92,939.41.

Belgium.-Statistics to December 31, 1889, from official report of 1890: 5,259 school savings banks; 212,037 depositors; due to them, $78,213.42.

France.-Statistics to December, 1887, from official report of 1888: 23,375 school savings banks; 161,387 depositors; due to them, $2,421,229.62.

Liverpool.-Statistics to November, 1888, from official report of November 20, 1889: 75 post-office savings-bank branches; 8,710 depositors; due to them, $7,721.

Hungary and Germany.-School savings banks are entirely in the hands of private associations, and statistics could not be conveniently got.

Russia, Switzerland, Netherlands, England and her colonies.-As the annual report of the postmaster-general of these countries does not contain a column separate for the money of the schools, it became impossible to give the statistics of school savings banks.