SAVING THE PENNIES.

Auckland Star, Volume LVII, Issue 159, 7 July 1926, Page 9

SAVING THE PENNIES.

SYSTEM FOR THE SCHOOLS

ENCOURAGING THRIFT

EAIILV LSEUINXINU OF b( LiOLE. As a first step in the direction of establishing school savings banks the Auckland Education Board adopted a repoi t that was placed before it to-day by a special sub-committee. The report recommended that the authority of the board be given to a scheme that was outlined in tlie report, and that the Auckland Savings Hank be allied to inaugurate it at an early date.

The report stated that the proposal of the saving;-; bank had been disctis-ed with representatives from the Headmasters' Association. Two meetings had been held. At the first meeting tlie accountant ot tlie savings hank explained the proposal fully; and tlie Chief Postmaster asked that the Post Office Savings Bank representative be heard in order that the merits of that system might be made dear to the members of the sub-committee.

The headmasters were willing to give every assistance, to a scheme which was considered workable. The rival schemes were fully discussed, and it was resolve.l that, provided the Headmasters' Association fell ill villi the \ jpw t> f their representatives, the si-lioiiw put forward by the Auckland Saving- liaiik be adopted.

The Post Oliic-p scheme was one authorised by the Education Act of 1577, and. except ■:; Otago, had never been used. It had the advantage that it could be adopted in all schools in the province, but it had tin- disadvantage of having to be dealt with by stumps and. whilst it might be worked in small country schools, would be difficult to carry out in large city schools. The Working of tje Scheme. The Auckland Savings Bank scheme was roughly as follows:—Tim account was opened by any child in the school, and a day in the week was set apart in each school, and a time fixed for collection. Tile class teacher collected the money from the children and entered the amounts on a form. This, together with the money, was handed over to the headmaster. An officer of the bank visited the school at a given time on the same day, collected the cash and entered it up in each child's savings bank book. It was suggested that, for safe custody, these books be retained by the class teacher unless the parents desired otherwise. If the child desired to withdraw money it must be done at the Savings Bank. The bank agreed to allow interest at 4.V per cent on every ten shillings banked in place of a pound. The scheme was considered a good one. It would encourage the children to practice thrift, and would not entail much work on the part of the teachers. The bank whs anxious to make it a success, and modified its first proposal in the mode of working in order to lessen the work thrown on the school teacher. Advice has been received that the Headmasters' Association fully endorsed the proposal and would do its best to make it a success. The subcommittee recommended that the authority of the board be given to the scheme, and that the bunk be asked to inaugurate it at an early date. It was fully realised that the success of the scheme would depend to a great extent on the teachers, and the committee appreciated the goodwill which the headmasters had shown towards it, and had not the slightest doubt that all teachers in the service would do their best to further the object, no one being more fully alive to the great need for the teaching of thrift amongst the children than the school teachers who had charge of them. The report was adopted.